Convoy execs arrested for suspected corruption
Three senior executive of Convoy Financial Services, one of Hong Kong’s largest IFA firms, have been arrested on suspicion of corruption and eight properties raided, the Independent Commission Against Corruption (ICAC) has confirmed.
10 Chinese banks oppose new asset management rules
New rules from China’s Central Bank that look to tighten regulations in the asset management industry have reportedly been opposed by 10 national joint-stock banks.
UAE questions US omission from tax haven blacklist
Dubai wealth managers have questioned why countries like the US and Switzerland have been left off the EU tax haven blacklist but the UAE has been included.
Hong Kong IFA firm Convoy halts trading following raids
Trading of Convoy Financial Services shares have been suspended on the Hong Kong Stock Exchange (HKSE) following multiple reports authorities have raided offices, homes and arrested executive directors.
Aberdeen gets Chinese onshore license
Aberdeen Standard Investments has secured registration as a private securities investment fund manager, making it one of only eight foreign asset management firms to gain the licence.