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Singapore’s already delayed commission cap still not in place

Singapore’s already delayed commission cap still...

Singapore’s 55% cap on commission payments “has still not been practically implemented” despite being due to come into force in January 2017, an industry source told International Adviser.

Published : 2, Feb 2017
ETF Securities drops Hong Kong asset management licence

ETF Securities drops Hong Kong asset management...

UK-based ETF Securities has decided not to renew its asset management licence in Hong Kong, following a number of high-profile delistings in city last year.

Published : 2, Feb 2017
Agnostic investors embracing Shariah products

Agnostic investors embracing Shariah products

Agnostic and ethically-minded investors are increasingly turning to Shariah compliant products with asset managers happy to meet demand, says Jad Shams, head of Mena for Mirae Asset.

Published : 2, Feb 2017
IoM life industry discloses extent of commission complexity

IoM life industry discloses extent of commission...

When it comes to disclosing commission, Isle of Man-based life companies have revealed at least six different ways they pay intermediaries and asked the regulator to be clear on what it wants them to disclose, according to industry responses to a consultation paper.

Published : 1, Feb 2017
Ex-adviser jailed for Cambodian biofuel scam faces SFO action

Ex-adviser jailed for Cambodian biofuel scam faces...

A former financial adviser currently serving six years in a UK prison for his part in a collapsed biofuel investment scam, is facing further enforcement action by the Serious Fraud Office (SFO) after missing the deadline to pay a confiscation order.

Published : 1, Feb 2017
IoM regulator confirms two commission disclosure deadlines

IoM regulator confirms two commission disclosure...

Life insurance companies on the Isle of Man must provide broad commission disclosure from 1 January 2018 and policyholder specific commission disclosure from 1 January 2019 under the proposed new Conduct of Business Code.

Published : 1, Feb 2017
Why life insurance wrappers still benefit expats in the UAE

Why life insurance wrappers still benefit expats...

The benefits of life insurance wrappers still outweigh direct investment in funds for expatriate customers in the UAE despite the significant regulatory change underway, says Philip Cernik of Friends Provident International.

UK investigates overseas pension transfers in scam crackdown

UK investigates overseas pension transfers in...

The Financial Conduct Authority (FCA), the UK’s financial services regulator, is currently investigating overseas pension transfers as part of a move to tackle widespread investment fraud, according to Paul Davies, director of advisory firm bdhSterling.

Published : 31, Jan 2017
Six year-end tax issues for non-doms in the UK

Six year-end tax issues for non-doms in the UK...

The approaching tax year-end applies equally to those born in the UK and to foreign expats living there. This year, expats may have even more to consider given the new non-dom rules coming into force from 6 April 2017, warns Old Mutual Wealth’s financial planning expert, Rachael Griffin.

PEOPLE MOVES: LGIM, Brewin Dolphin, US SEC

PEOPLE MOVES: LGIM, Brewin Dolphin, US SEC

Legal & General Investment Management has created a new head of personal investing for its UK direct business, while Brewin Dolphin’s chief operating officer is to depart. The exodus continues from the US Securities and Exchange Commission.

Published : 31, Jan 2017
 SJP to launch Rowan Dartington in Asia by end of June

SJP to launch Rowan Dartington in Asia by end...

St James’s Place is set to roll out services from discretionary fund manager Rowan Dartington across its Asian operations during the first half of this year, according to Mike Gravestock, international partnership director.

Published : 31, Jan 2017
Spain under fire to harmonise tax regimes across regions

Spain under fire to harmonise tax regimes across...

Pressure is mounting on the Spanish government to introduce a nationwide tax system to address “substantial tax disparities” between the country’s 17 autonomous regions.

Published : 31, Jan 2017
Spain retains wealth tax quashing hopes of ‘promised abolition’

Spain retains wealth tax quashing hopes of ‘promised...

Spain has confirmed there will be no changes to income or wealth taxes in 2017, despite political instability in recent months giving hope that a controversial wealth tax would finally be lifted.

Published : 30, Jan 2017
Qnups in retirement planning: a case study on Peter

Qnups in retirement planning: a case study on...

In this second instalment on Qnups in wealth planning, the director of Isle of Man-based pension provider Optimus, Martin Hall, runs through a case study where Qnups are the right solution for the client.

Published : 30, Jan 2017
IRS trawls for US tax evaders in Panama firm probe

IRS trawls for US tax evaders in Panama firm probe...

A federal court in the US state of Montana has authorised the Internal Revenue Service (IRS) to serve a ‘John Doe’ summons in a bid to uncover details of US taxpayers who may hold offshore accounts established by a Panama firm to evade paying tax.

Published : 27, Jan 2017
EM bond funds to watch based on their AuM

EM bond funds to watch based on their AuM

There has been little movement in the top ranking global emerging markets bonds funds in terms of their assets under management in the past 12 months.

Published : 27, Jan 2017
PEOPLE MOVES: Standard Life, Quilter Cheviot, Crowe CW

PEOPLE MOVES: Standard Life, Quilter Cheviot,...

Standard Life’s chief executive for UK and Europe Pensions and Savings is to retire, with Quilter Cheviot’s chief executive announcing similar plans. Audit, tax and advisory firm Crowe Clark Whitehill sadly announced on Friday that its national head of private clients has died.

Published : 27, Jan 2017
Newcomer EM bond funds to watch

Newcomer EM bond funds to watch

The evolution of the EM bond fund asset class has seen recent launches emphasise either flexibility, blended strategies for instance, or specific areas of the market, such as short duration funds.

Published : 27, Jan 2017
EM bond funds to watch based on their three-year performance

EM bond funds to watch based on their three-year...

The November sell-off in emerging markets debt was more severe for the local currency part of the market, so it is no surprise that hard currency debt funds were among the top performers through November 2016. 

Published : 26, Jan 2017
HMRC loss in IHT case unlikely to change pension transfer rule

HMRC loss in IHT case unlikely to change pension...

A court ruling against HM Revenue & Customs on a case about inheritance tax (IHT) is unlikely to change the current two-year exemption rule on pension transfers, said Rachael Griffin, financial planning expert at Old Mutual Wealth.

Published : 26, Jan 2017

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Isle of Man to investigate collapse of Nicaraguan bamboo fund
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New Earth’s fund manager expected to pay creditors in full
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Panama Papers law firm bosses arrested and denied bail
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British expats living in Europe face Brexit backlash
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