PEOPLE MOVES: S Africa taxman, Fidelity Int’l, Charles Stanley
Allegations of money laundering and corruption have brought down the chief of the South Africa Revenue Services’ business and individual tax division. Senior changes at Fidelity International put a new face in charge of its continental European business, while Charles Stanley is targeting improved intermediary relationships with two hires.
OMI keeps distribution deal as Old Mutual exits LatAm
South Africa-headquartered Old Mutual is selling all of its businesses in Latin America to a Singapore-based firm but has confirmed that Old Mutual International will continue its long-standing relationship with regional distributor Aiva.
Hong Kong regulator targets big guns
In separate moves, Hong Kong’s Securities and Futures Commission (SFC) this month has gone after UBS, Deutsche Bank and brokerage firm CLSA for regulatory breaches.
Brexit threat to Gibraltar may trigger sector exodus to Spain
Brexit poses a significant threat to financial services in Gibraltar but re-domiciling to the Spanish side of the border could spare the sector.
IFAs among 24 firms UK compensation scheme declares in default
Three advisory firms, along with 21 other financial businesses, were declared in default by the Financial Services Compensation Scheme (FSCS) in February.