China’s fund association lashes out at marketing gaffe
The Asset Management Association of China (AMAC), the fund industry’s self regulatory body, has sharply criticised an online fund marketing campaign launched by a wealth management arm of e-commerce giant Alibaba, involving 16 fund managers.
Guernsey wealth manager swoops on $1.7bn in US assets
Guernsey-based European Wealth, an integrated wealth management group, is to acquire a US broker network with US$1.7bn (€1.44bn,£1.29bn) assets under management and re-brand itself.
Oxford Risk partners consultancy to evolve risk tools
Oxford Risk and behavioural finance consultancy Centapse have entered into a partnership to develop new risk profiling tools in a bid to become “the essential reference point for financial advisers”.
Rogue Sipp adviser lands Sesame with fine over Cape Verde fund
UK network Sesame has been ordered to compensate a pensioner after one of its advisers invested his Sipp into an unregulated Cape Verde fund and hid the commission.
Ex-Chelsea defender sentenced to jail for tax fraud
Former Chelsea and Real Madrid defender Ricardo Carvalho has been sentenced to seven months in prison and fined €142,882 (£128,222 $167,717) for tax evasion.