Industry
Best Practice | 14 Jul 17
Offshore bond top-slicing – the devil is in the detail
Advisers and clients could be caught unaware by a little-known change to offshore bond top-slicing, warns Rachael Griffin, financial planning expert at Old Mutual Wealth.
EU warns regulators to stop ‘letter box’ investment firms
A European watchdog has urged a crackdown on investment firms setting up ‘letter box’ entities across the continent in the wake of the Brexit vote.
PEOPLE MOVES: Vanguard, Aberdeen, AJ Bell
Vanguard has identified its new chief executive, while Aberdeen Asset Management has appointed a head of Luxembourg and named two heavy-hitting independent non-executive directors to the board of Aberdeen Life. AJ Bell has a new technical director.
Generali puts $50bn German life book up for sale
Italian insurer Generali has put its $50bn (£38bn, €44bn) closed book German life insurance unit up for sale as part of a worldwide restructure of its European operations, Reuters has reported.
Tax & Regulation | 14 Jul 17
FCA fines compliance officer for pension transfer failings
The UK watchdog has fined a compliance oversight officer after two companies he worked for gave unsuitable advice to around 500 customers who transferred £12.7m ($16.4m, €13.6m) out of their DB pension schemes.