Tax & Regulation | 7 Aug 12
controversial cayman tax axed
A controversial tax in the Cayman Islands appears to be off the table after a viable alternative was offered by the private sector.
800m vote of confidence in threadneedle
Threadneedle has won a mandate in excess of $800m with South African Investment manager Stanlib, running global and emerging market equity portfolios.
Middle East | 7 Aug 12
confusion as uaes esca unveils funds rules
Asset managers in the United Arab Emirates said today that they were struggling to get clarity on new regulations covering investment funds that were unveiled at the end of July by the Emirati Security & Commodities Authority.
standard chartered hid dealings worth 250bn
London headquartered bank Standard Chartered has been accused by New York State’s financial watchdog of hiding 60,000 transactions worth $250bn with the Iranian government, which it said left the “US financial system vulnerable to terrorists, weapons dealers, drug kingpins and corrupt regimes”.
European fund mergers slow lipper report
The European mutual fund industry continues to consolidate, with 875 funds withdrawn from the market in Q2 and only 417 new products launched, according to the latest Lipper research report.