Tax & Regulation | 7 Apr 16
Asset managers should practice what they preach, says FCA
The Financial Conduct Authority has gently warned asset managers that they need to be clear in product descriptions and manage funds in line with stated strategies, following a review.
Tax & Regulation | 7 Apr 16
FCA gives banks one week to reveal any ‘Panama Papers’ link
The Financial Conduct Authority (FCA) has given banks and financial institutions until next week to declare any links to Mossack Fonseca, the law firm at the centre of the ‘Panama Papers’ controversy.
Barclays HK and Singapore wealth businesses sold to OCBC
Oversea-Chinese Banking Corp’s (OCBC) private banking subsidiary, Bank of Singapore, is to acquire Barclays’ wealth and investment management (WIM) businesses in Singapore and Hong Kong for around $320m (£226.5m, €281.2m).
People Moves | 7 Apr 16
PEOPLE MOVES: Axa, Investec, Miton…
Axa Group has announced a high-profile return and a senior appointment. A new role of managing director UK has been created at Investec Wealth & Investment, while significant departures have been announced by Miton and Argonaut.
Latin America | 7 Apr 16
Panama president vows to improve transparency with ‘panel of experts’
In a televised address, president Juan Carlos Varela has said that Panama will create an international ‘panel of experts’ to help improve transparency in its offshore financial industry, in the wake of the ‘Panama Papers’ scandal.