Tax & Regulation | 5 Jan 17
UK upholds use of controversial APNs to tackle tax avoidance
HM Revenue & Customs (HMRC) has said it will continue to use accelerated payment notices (APNs) to combat tax avoidance schemes, despite concerns that the penalties are “morally questionable”.
US policy drives Bank of Singapore’s glum outlook on China
Potentially aggressive US trade policy and China’s expanding credit are top concerns, according to Richard Jerram, the Bank of Singapore’s (BoS) chief economist.
Fidelity obtains first ‘private fund’ licence in China
Fidelity International has become the first global asset manager allowed to launch investment products in mainland China through a wholly-owned local subsidiary, in the latest move by Beijing regulators to open up the country’s capital markets to foreign firms.
Aisa International moves into South Africa with fee-based firm
Cross-border financial planning firm Aisa International has expanded into South Africa after being granted a licence by the country’s financial services regulator.
Best Practice | 4 Jan 17
US funds must disclose fees under DoL adviser reforms
US mutual funds will be required to fully disclose all their fees and asset allocation as a result of the Department for Labour’s (DoL) upcoming investment advice rule, according to the Securities and Exchange Commission (SEC).