Industry
Around 70% of Singaporeans are underinsured, says Prudential
Around seven in 10 Singaporeans have not increased their life insurance cover in line with their rising income levels, leaving them at risk of being under-insured in the event of a crises, insurer Prudential has warned.
Guernsey’s Providence fund ordered to be wound up
The Royal Court of Guernsey has ordered the winding up of Providence Global Ltd, the parent company of locally registered Providence Investments Funds and its manager Providence Investment Management International.
People Moves | 23 Aug 16
PEOPLE MOVES: Zurich, EFG, Rathbones
Zurich names a new head for its global divison in Hong Kong, while Switzerland’s EFG appoints a chief executive in Singapore. The Guernsey regulator hires a new lawyer to its decision’s panel, and BMO expands its European sales team.
Tax & Regulation | 23 Aug 16
UK ombudsman pledges to tackle scammers of £755m fraud
The UK’s Financial Ombudsman Service (Fos) has set out the scale of fraud carried out in the country’s financial services sector, pledging to work with other regulatory bodies such as the Financial Conduct Authority to crackdown on scams.
China’s regulator continues fund house crackdown
The China Securities Regulatory Commission (CSRC) put 73 private fund firms under administrative supervision measures in the first half of this year after illegal or irregular activities were found.