North America | 24 Aug 16
Campaign group calls for Fatca exemption for US expats
American Citizens Abroad (ACA), a campaign group for US citizens living overseas, has called on the US Treasury Department to amend Fatca regulations which would allow US expats to hold bank accounts exempt from the stringent reporting standards.
Around 70% of Singaporeans are underinsured, says Prudential
Around seven in 10 Singaporeans have not increased their life insurance cover in line with their rising income levels, leaving them at risk of being under-insured in the event of a crises, insurer Prudential has warned.
People Moves | 23 Aug 16
PEOPLE MOVES: Zurich, EFG, Rathbones
Zurich names a new head for its global divison in Hong Kong, while Switzerland’s EFG appoints a chief executive in Singapore. The Guernsey regulator hires a new lawyer to its decision’s panel, and BMO expands its European sales team.
Emerging Markets | 23 Aug 16
BlackRock goes overweight EM
US fund management giant BlackRock has joined the ongoing shift into emerging markets by upgrading the asset class to overweight in its asset allocation outlook.
Tax & Regulation | 23 Aug 16
UK ombudsman pledges to tackle scammers of £755m fraud
The UK’s Financial Ombudsman Service (Fos) has set out the scale of fraud carried out in the country’s financial services sector, pledging to work with other regulatory bodies such as the Financial Conduct Authority to crackdown on scams.