North America | 2 Mar 17
US Labor Department proposes 60-day delay to adviser reforms
The US Labor Department has proposed a 60-day delay for the start of the fiduciary rule, which requires financial advisers to act in the best interests of their clients, in a move signalling a possible derailment of the controversial reforms.
Regulations to revamp Malaysia’s life sector, says Zurich
Malaysia’s life insurance industry, traditionally dominated by agency business, is set to see “rapid changes” once the country brings wide-ranging regulatory measures, according to Philip Smith, chief executive of Zurich Malaysia Bhd.
Tax & Regulation | 2 Mar 17
Isle of Man to officially wind up Nicaraguan bamboo fund
The Isle of Man’s financial services regulator is looking to officially liquidate the stricken Eco Resources Fund, which convinced 189 investors to put $61m (£48m, €57m) into building a bamboo plantation in Nicaragua.
Tax & Regulation | 1 Mar 17
UK eyes Budget ‘death tax’ proposal to fund elderly care
The UK is considering introducing a ‘death tax’ as part of a move to overhaul how Britons pay for care in their old age.
Investment | 1 Mar 17
UK court bans directors of Australian, Lithuanian wheat scheme
Two directors who ran a wheat-based investment scam have been banned from acting as directors by the UK’s High Court, after failing to account for more than £500,000 ($621,465, €586, 572) of investors’ money.