Best Practice | 6 Oct 16
CISI defends industry against UK PM’s crackdown on advisers
The Chartered Institute for Securities & Investment (CISI), a UK professional standards body for the financial services industry has defended advisers against British prime minister Theresa May’s pledge to crackdown on the profession for helping the rich avoid tax.
Harlequin Property enters insolvency to ‘protect investors’
Harlequin Property SVG, the company behind the £400m ($509m, €454m) overseas property scheme, has officially entered insolvency proceedings, a decision likely to result in hefty losses for thousands of investors.
People Moves | 6 Oct 16
PEOPLE MOVES: SLI, UK, Kames, Sun Life, Edge Investments
SLI has hired a new emerging market portfolio manager as UK government hires former Aviva UK chief executive as its older workers tsar. Sun Life in Hong Kong appoints new head for its high net-worth clients (HNW) division as specialist investment house Edge recruits two new industry heavyweights.
STM launches Australian expat super fund
The STM Group has launched a Gibraltar-based Australian superannuation scheme targeted at the expat market as part of a broader move into Australia’s retirement market.
Tax & Regulation | 6 Oct 16
Providence Global-owned Lumiere Wealth to be wound up
Jersey-based IFA firm Lumiere Wealth, which is majority owned by Providence Global, is to be wound up after a hearing held by the channel island’s Royal Court.