Industry
Ex-Citibank HK banker penalised for copy-and-paste signature
A former Citibank senior personal banker in Hong Kong has been penalised for copying and pasting a client’s signature into a document to deceive the bank into accepting the signature as genuine.
Japanese insurer to replace staff with AI system
A major Japanese insurance firm is to lay off 34 staff in its payment assessment department and replace them with an artificial intelligence (AI) system this month to improve operating efficiency.
South Africa to bring in 50% cap on upfront commission
South Africa’s Financial Services Board (FSB) will limit upfront commission to 50%, with the remainder set to be paid on an “as and when” basis as further details emerge on how the regulator will introduce the first set of Retail Distribution Review (RDR) measures.
Best Practice | 5 Jan 17
Zurich launches UK adviser platform with multi-application tool
Insurance giant Zurich has launched a protection platform where UK advisers can apply for multiple policies in one application.
European robo-adviser plans UK launch promising 20% returns
European wealth management firm Novofina will launch in the UK this year bringing “state-of-the-art” algorithms which it claims can deliver 20% returns for investors.