Industry

Companies | 21 Apr 16

Sovereign Group, an international wealth management and retirement planning provider, has acquired UK-based MW Pensions, a specialist in Self-Invested Personal Pension (Sipp) schemes, for an undisclosed amount.

People Moves | 21 Apr 16

Aviva UK Life has promoted from within to fill the chief financial officer role that will be vacated by John Lister when he retires in September. Axa IM is bolstering its EM division with a new head of EM fixed income, while Wells Fargo AM has poached an executive VP from SSGA who will lead the firm from June.

Asia | 21 Apr 16

The Australian Bankers Association (ABA), which represents all the country’s major banks, has unveiled a sweeping review of product sales commissions and product based payments with a view to removing or changing them where they lead to poor customer outcomes.

Tax & Regulation | 21 Apr 16

A British land bank scam which sold investors small plots of land at hugely inflated prices has been ordered to pay its victims £21m ($30.1m, €26.5m) after losing a Supreme Court appeal which challenged an earlier ruling, the Financial Conduct Authority (FCA) has revealed.

Tax & Regulation | 20 Apr 16

New rules proposed by the UK tax office for a planned secondary annuity market, expected to open in April 2017, will allow more people to participate than previously expected, experts said.