Industry
Retirement | 4 Aug 16
UK pension transfers back under the microscope
The UK regulator is planning to take a fresh look at how it calculates levels of redress when unsuitable advice is given on the transfer of defined benefit (DB) pension schemes. While advisers claim it’s not just DB schemes that are facing issues, with some defined contribution (DC) pension transfers also proving problematic.
Standard Life suspends property-linked life bond withdrawals
Customers with investments in Standard Life’s assurance bonds have been told they cannot access their money if any part – however small – of their funds are in ill-fated UK commercial property funds.
Belize offshore bank sees a run on deposits after Fatca probe
An offshore bank in Belize, owned by prominent UK businessman Lord Ashcroft, has seen a sharp outflow of deposits following a US crackdown on tax evasion.
Singapore regulator sets up fintech advisory panel
The Monetary Authority of Singapore (Mas) has set up an international technology advisory panel (Itap) to discuss fintech developments around the world and how Singapore can harness new technologies to enhance its financial services industry.
HSBC and Standard Chartered shares jump despite profit slides
Shares in HSBC jumped 3.6% in London on Wednesday despite it revealing a 29% slide in profits to $9.7bn (£7.3bn, €8.7bn) for the first half.