Tax & Regulation
Saudi Arabia gets a new bankruptcy law
Saudi Arabia is planning to follow the United Arab Emirates in introducing a bankruptcy law to help its efforts to boost foreign investment into the oil-dependent economy, according to the Al Arabiya news channel.
Lux fund body hits back at politicised scrutiny of delegation
Growing scrutiny of European fund managers delegating portfolio management to other EU countries is motivated by “political reasons”, the chairman of the Association of the Luxembourg Fund Industry (Alfi) told International Adviser.
Guernsey regulator warns client risk is ‘ignored’ by advisers
The Guernsey Financial Services Commission has warned that investment risk is still incorrectly explained or ignored altogether by financial advisers.
EU single market to be ‘fragmented’ by MiFID II, says KPMG
Stark differences in regulatory interpretation among the 28 members of the European Union means that far-reaching reforms covering all aspects of the financial markets could end up defying their purpose and result in a “fragmented” single market.
Indonesia hunting for hidden wealth
Indonesia’s mammoth $368bn tax haul has been followed by new regulations aimed at tracing and taxing money that was not declared during the nine-month amnesty that ended in March.