Tax & Regulation
South Africa sets out commission ban under RDR
South African regulator, the Financial Services Board (FSB), has revealed details on how it will implement a cap on commission payments as part of the country’s Retail Distribution Review (RDR).
EU regulators under fire as email of ex-UK rep revealed
The widespread distribution models in many European countries are not understood properly by the European Securities & Markets Authority (Esma), making parts of its new product governance rules “unworkable” for financial advisers, according to Fecif’s secretary general Paul Stanfield.
Boss of £23m biofuel scam jailed for eight years in Cambodia
The chairman of a collapsed biofuel investment scheme has been convicted of fraud and sentenced to eight years in prison by a Cambodian court.
Middle East | 4 Jan 17
DFSA rules out ban on commission, Insurance Authority update
The Dubai Financial Services Authority (DFSA) has no proposals to ban commission, according to chief executive Ian Johnston.
LM directors escape legal sanctions in Australia
The former directors of the collapsed Queensland-based fund manager LM Investment Management (LMIM) did nothing wrong, an Australian court has ruled.