Tax & Regulation | 18 May 17
UK finds 40% of advice provides ‘unacceptable’ disclosure
The Financial Conduct Authority (FCA) has found “unacceptable” levels of disclosure in over 40% of the financial advisory sector as it releases the results of its Assessing Suitability Review.
Asia and Middle East spur 11% growth for RL360°
Isle of Man-based RL360° reported a spike in new business growth of 11% in 2016, driven strong sales of regular premium plans in Asia, Latin America and the Middle East.
UAE unveils crackdown on banks selling insurance policies
The UAE Central Bank is cracking down on insurance products sold via banks after receiving a growing number of mis-selling complaints.
Prudential Asia CEO stepping down, replacement confirmed
Tony Wilkey is to step down as chief executive of Prudential Corporation Asia. His replacement has been named as Prudential’s group chief financial officer Nic Nicandrou, who will subsequently be replaced by Deloitte UK’s Mark FitzPatrick.
Adviser and his wife convicted of £1.7m property fraud
A “heartless” adviser and his wife have been found guilty of swindling people out of £1.7m (€1.9m, $2.1m) after the longest trial in UK criminal history.