Pimco fined $20m for misleading investors on active ETF

Pimco fined $20m for misleading investors on active...

Investment manager Pimco has been fined nearly $20m (£15.9m, €18.9m) by the US Securities and Exchange Commission (SEC) for misleading investors about the performance of its actively managed Total Return ETF.

Published : 2, Dec 2016
France looks to tighten rules for asset managers

France looks to tighten rules for asset managers...

France’s markets watchdog has set out rules to limit the repayments asset managers make to investors when markets are stressed, making it the latest regulator to shine a light on the industry.

Published : 2, Dec 2016
UK politicians slam HMRC over lack of tax relief scrutiny

UK politicians slam HMRC over lack of tax relief...

British MPs have criticised HM Revenue & Customs (HMRC) over its lack of scrutiny on whether tax reliefs are being used effectively, raising doubts about plans to digitise its services.

Published : 2, Dec 2016
Northstar unveils index linked range with capital protection

Northstar unveils index linked range with capital...

Bermuda-based Northstar Financial Services has launched an S&P 500 index-linked product which will carry a 100% capital return guarantee.

Published : 2, Dec 2016
Singapore bans star dealmaker as banks fined £5.3m over 1MDB

Singapore bans star dealmaker as banks fined £5.3m...

An ex-Goldman Sachs banker is facing a ban from Singapore’s securities industry , while Standard Chartered and Coutts have been hit with record fines for their roles in Malaysia’s 1MDB scandal.

Published : 2, Dec 2016
AxiomSL opens Dubai office in Middle East expansion

AxiomSL opens Dubai office in Middle East expansion...

AxiomSL, a firm specialising in regulatory reporting and risk management, has announced it will be opening its first Middle East office in the the Dubai International Financial Centre (DIFC).

Published : 2, Dec 2016
Hargreaves Lansdown hails its ‘biggest fund launch ever’

Hargreaves Lansdown hails its ‘biggest fund launch...

The HL Select UK Shares Fund launch on Friday has been hailed as its biggest ever by Hargreaves Lansdown.

Published : 1, Dec 2016
PEOPLE MOVES: Zurich, MBMG, Close Brothers

PEOPLE MOVES: Zurich, MBMG, Close Brothers

A Zurich stalwart has been hired to the Middle East to head up the life insurer’s retail distribution team, while Bangkok-based advisory firm MBMG announces a departure. Close Brothers appoints a new business development director, who will work closely with UK advisers.

Published : 1, Dec 2016
IFA fined £234k for ‘McDonald’s advice’ on doomed Harlequin

IFA fined £234k for ‘McDonald’s advice’ on doomed...

The head of a UK IFA firm, which was one of the biggest sellers of the ill-fated Harlequin Property investments, has been fined £233,600 (€274,259, $291,491) for the poor advice he doled out to pension clients.

Published : 1, Dec 2016
UK launches financial adviser apprenticeship scheme

UK launches financial adviser apprenticeship scheme...

The British government has approved a new specialist financial adviser apprenticeship standard and will offer employers up to £9,600 ($11,979, €11,270) in financial help toward the training of a competent adviser.

Published : 1, Dec 2016
Tilney targets advisers with ‘smart beta’ range

Tilney targets advisers with ‘smart beta’ range...

UK wealth manager Tilney for Intermediaries is planning to launch a new range of ‘risk graded, low cost multi-asset funds’ in the first quarter of 2017.

Published : 1, Dec 2016
Australia passes law to slash upfront life commissions

Australia passes law to slash upfront life commissions...

The Australian government has passed a law that will significantly reduce the upfront commissions paid on life insurance products and cap ongoing charges.

Published : 1, Dec 2016
Dodgy Sipps claims to drive up FSCS levy on UK advisers

Dodgy Sipps claims to drive up FSCS levy on UK...

The UK’s Financial Services Compensation Scheme (FSCS) has warned it may impose an interim levy on life and pension advisers over the increasing number of claims related to self-invested personal pension schemes (Sipps).

Published : 1, Dec 2016
Trump Tantrum hits emerging markets

Trump Tantrum hits emerging markets

Investors took their money out of emerging market (EM) assets in November at the fastest pace since the 2013 Taper Tantrum, according to the Institute of International Finance (IIF).

Published : 1, Dec 2016
Oil spikes after OPEC strikes first deal in 8 years

Oil spikes after OPEC strikes first deal in 8...

The price of Brent crude oil surged above $50 (£40, €47) per barrel as rumours became reality that OPEC members had finally reached an agreement.

Published : 30, Nov 2016
Director of collapsed IFA firm banned after £4m goes missing

Director of collapsed IFA firm banned after £4m...

The director of a bankrupt UK-based IFA firm, who also ran a trading room, has been disqualified for eight years for failing to account for more than £4m ($4.9m, €4.6m) of client’s money, the Insolvency Service has revealed.

Published : 30, Nov 2016
Woodford IM and L&G to fund UK start-ups

Woodford IM and L&G to fund UK start-ups

Woodford Investment Management (IM) and Legal & General’s principal investment arm have taken stakes in a £150m ($187m,€176m) venture platform to support UK digital start-ups at all stages of the funding cycle.

Published : 30, Nov 2016
South African IFA firm to expand adviser training school

South African IFA firm to expand adviser training...

Cape Town-headquartered IFA firm Carrick Wealth is expanding its flagship Invictus programme, a training academy launched earlier this year aimed at the company’s would-be advisers.

Published : 30, Nov 2016
Australia's IOOF considers buying ANZ's wealth business

Australia's IOOF considers buying ANZ's wealth...

Australian-listed financial services firm IOOF Holdings has indicated it is interested in buying the ANZ bank’s domestic wealth management business.

Published : 30, Nov 2016
Brewin Dolphin hit by 18% fall in pre-tax profits

Brewin Dolphin hit by 18% fall in pre-tax profits...

Brewin Dolphin has posted a 17.9% fall in pre-tax profits as it has published its preliminary annual results for 2016 in a year that included a “challenging” first half.

Published : 30, Nov 2016

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