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China to crack down on ‘barbaric’ life insurers

China to crack down on ‘barbaric’ life insurers...Lock icon

China’s insurance regulator is to introduce measures aimed at curbing the investment activities of life insurers following a string of high-profile suspensions over stock market speculation.

Published : 14, Dec 2016
UK to make 'polluters' pay in FSCS levy shake-up

UK to make 'polluters' pay in FSCS levy shake-up...Lock icon

The UK regulator has proposed changing the financial compensation scheme to make riskier, so-called ‘polluter’ firms pay higher levies.

Published : 14, Dec 2016
ANALYSIS: Are the bulls about to charge?

ANALYSIS: Are the bulls about to charge?Lock icon

If the fund managers surveyed on a monthly basis by Bank of America Merrill Lynch are any indication, animal spirits have returned.

Published : 13, Dec 2016
Gibraltar must 'act fast' to meet Rops reforms

Gibraltar must 'act fast' to meet Rops reforms...Lock icon

Overseas pensions offered from Gibraltar are most at risk of losing their 'recognised' status when the UK brings in a new rule requiring such products to be regulated in the country where they are established.

Published : 13, Dec 2016
Harlequin Property wins $11.6m claim against former accountants

Harlequin Property wins $11.6m claim against former...Lock icon

Harlequin Property SVG, the company behind the £400m ($509m, €454m) overseas property scheme facing ruin, has won a $11.6m claim against its former accountancy firm Wilkins Kennedy.

Published : 13, Dec 2016
PEOPLE MOVES: Generali, Ravenscroft, Old Mutual

PEOPLE MOVES: Generali, Ravenscroft, Old Mutual...Lock icon

Italian insurer Generali has appointed a country manager for Italy and named a group chief investment officer. Ravenscroft has a new group managing director, while Old Mutual Wealth is to bid farewell to a company veteran.

Published : 13, Dec 2016
RL360° gains Malaysia licence, opens office

RL360° gains Malaysia licence, opens officeLock icon

RL360° has opened a new branch office in Kuala Lumpur, Malaysia, after it was granted a license by the Labuan Financial Services Authority (LFSA).

Published : 12, Dec 2016
Mike Coady departs deVere Group with ‘immediate effect’

Mike Coady departs deVere Group with ‘immediate...Lock icon

Michael Coady has stepped down as managing director of deVere United Kingdom, deVere Mortgages and as chairman of UK Workplace Solutions; the three deVere Group brands in the UK.

Published : 12, Dec 2016
Six things the UK gov’t can do to deter pension scammers

Six things the UK gov’t can do to deter pension...Lock icon

The UK Government’s proposed ban on pensions cold-calling will deter scammers but must be just the start of a concerted effort to drive fraudsters out of the market, says AJ Bell.

Published : 9, Dec 2016
 Axa launches global parental leave policy

Axa launches global parental leave policyLock icon

Insurance giant Axa is to introduce a global parental leave policy for its 166,000 employees across 64 countries.

Published : 9, Dec 2016
Departures continue with SEC enforcement head to step down

Departures continue with SEC enforcement head...Lock icon

The US Securities and Exchange Commission (SEC) has confirmed that enforcement director Andrew Ceresney is to leave the agency by the end of the year, the latest in a series of high-profile departures from the regulator.

Published : 9, Dec 2016
Hong Kong regulator ramps up disciplinary action

Hong Kong regulator ramps up disciplinary action...Lock icon

Disciplinary action taken by Hong Kong’s Securities and Futures Commission (SFC) kicked up a gear during 1H16, rising 66.7% from last year.

Published : 9, Dec 2016
FCA sets deadline to end closed life book ‘poor practice’

FCA sets deadline to end closed life book ‘poor...Lock icon

A tighter framework for closed books of life and pensions business has been unveiled by the UK’s Financial Conduct Authority (FCA) after uncovering poor practices in parts of the industry.

Published : 9, Dec 2016
Rothschild exits Hong Kong amid Asian private bank closures

Rothschild exits Hong Kong amid Asian private...Lock icon

The exodus of private banks from the Asian region continues as Edmond de Rothschild (Suisse) announces that it plans to close its Hong Kong branch.

Published : 9, Dec 2016
Singapore’s AAM on life after being acquired by Old Mutual

Singapore’s AAM on life after being acquired by...Lock icon

Old Mutual Wealth’s shock decision in February to buy AAM Advisory, the largest expat-focused IFA firm in Singapore, has in some ways felt like “having a tooth removed”, according to chief executive Matthew Dabbs.

Published : 9, Dec 2016
PEOPLE MOVES: Swiss Life, Columbia Threadneedle, Legg Mason

PEOPLE MOVES: Swiss Life, Columbia Threadneedle,...Lock icon

Swiss Life’s chief executive for Switzerland is to depart next year, with his successor already identified. Columbia Threadneedle has also named a chief executive, tasked with covering Emea and asset management. Legg Mason’s head of UK sales is set to depart, with a search underway for his replacement.

Published : 8, Dec 2016
Pioneer suspends two fixed income fund managers

Pioneer suspends two fixed income fund managers...Lock icon

Global asset management firm Pioneer Investments, has suspended two top fixed income fund managers at its Dublin-based operation, industry sources have confirmed.

Published : 7, Dec 2016
Regulating Rops will ‘level playing field’, say providers

Regulating Rops will ‘level playing field’, say...Lock icon

The UK’s plans to change the way overseas pension schemes are taxed and regulated have been welcomed by some providers, who say the changes will level the playing field between Rops and UK pensions and increase consumer protection.

Published : 7, Dec 2016
HMRC tightens noose on advisers who enable tax avoidance

HMRC tightens noose on advisers who enable tax...Lock icon

HMRC is to go ahead and issue hefty fines to financial advisers found guilty of helping their clients avoid tax, as it sets out clear guidelines on who exactly will be affected by the move.

Published : 7, Dec 2016
UK's plan to review portfolio bond ‘anomaly’ welcomed

UK's plan to review portfolio bond ‘anomaly’ welcomed...Lock icon

HM Revenue & Customs' plans to review personal portfolio bonds (PPB) and potentially correct cases where British expats are left with ‘inequitable’ tax charges when they return to the UK, have been welcomed by industry.

Published : 7, Dec 2016

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Axa Life Singapore ordered to pay $3m over bad reference
Axa Life Singapore ordered...Lock icon

Axa Life Insurance Singapore has been ordered by the...

Ex-IFA jailed for stealing £1m from client pension funds
Ex-IFA jailed for stealing...Lock icon

A former UK adviser has been jailed for six years and...

UK to limit right to transfer pensions but will include Qrops
UK to limit right to...Lock icon

As part of its crackdown on pension scams, HM Treasury...

DeVere’s Europe expansion continues with first Austria office
DeVere’s Europe expansion...Lock icon

DeVere Group is to open its first office in Austria...

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