Industry
Chinese asset manager becomes second biggest HSBC stakeholder
The asset management arm of China’s Ping An Insurance has become the second largest shareholder in HSBC after a recent acquisition pushed its stake over the 5% stock exchange notification threshold.
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.
International financial adviser hits £1bn milestone
International professional services firm Mazars is to add £300m in assets following the acquisition of RCL Consultancy from The Embark Group.
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.
Best Practice | 7 Dec 17
Offshore advisers fear new regulatory burden from HMRC
Offshore advisers have given a cautious thumbs-up to additional requirements to tell HM Revenue & Customs when they set up complex offshore schemes but have expressed concern that legitimate schemes could be targeted as well as abusive ones.