Industry
Macquarie clients with A$1.3m pushed out of private wealth
A cull of advisers and a shift in strategy have put clients of Australia’s Macquarie Group with less than A$1.3m (£724,000, $977,000, €829,000) of assets in limbo.
Six Singapore advisers banned for mis-selling
Former Prudential, AIA and Citibank employees have been prohibited from providing financial advice services in Singapore, after they were found to have mis-sold investment products.
Isle of Man ‘constraints’ key to Hansard Bahamas move
Hansard’s strategic move to set up a licenced company in the Bahamas was partly driven by the Isle of Man’s sweeping Conduct of Business Code rules which go live in January 2019, the London Stock Exchange-listed company chief executive Gordon Marr has revealed.
7IM becomes a pension provider
Seven Investment Management (7IM) has launched its own self-invested personal pension (Sipp), making the firm an official pension provider.
Investment industry in limbo as HMRC appeals Hargreaves tax win
The UK tax office’s decision to appeal a £15m tax ruling in favour of financial services firm Hargreaves Lansdown has left the investment industry in limbo over discounts provided to investors in funds.