Industry
EU probe into Spanish expat fines delayed – Blevins Franks
An EU investigation into a Spanish law, which requires every expat to declare all their foreign assets worth over €50,000 (£39,353, $56,762) or face heavy fines, may drag on for years, European advisory firm Blevins Franks has revealed.
Elian sold to Dutch firm Intertrust
Jersey headquartered fiduciary services company Elian Group is to be sold for £435m ($627m, €553m) to Dutch trust and corporate services provider Intertrust.
Feifa labels Priips regs ‘unworkable’
Paul Stanfield, head of The Federation of European Independent Financial Advisers, has slammed the key information document (Kid) as “unworkable”, warning that implementing it in its current form would reduce choice for consumers.
People Moves | 7 Jun 16
PEOPLE MOVES: Axa, Walker Crips, L&G
Axa promotes internally to fill chief operating officer role for its Asian operations, while Walker Crips hires ex-Nutmeg head of compliance. Rowan Dartington appoints new investment manager in its London office, as China’s GFI gets new chief investment officer.
Tax & Regulation | 6 Jun 16
Strabens Hall claims PI payout ends insolvency threat
International IFA firm Strabens Hall says it no longer faces “inevitable insolvency” due to £1m in claims over ill-fated investments in the collapsed Connaught Income funds after reaching an agreement with its professional indemnity insurer.