Tax & Regulation
Australia’s Westpac taken to court over advice failures
Australia’s financial services regulator is taking legal action against one of the country’s biggest banks for giving financial advice that failed to put the “best interests” of its clients first.
Middle East | 22 Dec 16
Are game-changing UAE regulations sinking in yet with advisers?
There will be a massive impact on the financial services industry if the UAE Insurance Authority’s proposed clampdown on fees and commissions comes into effect in 2017, says Philip Cernik, chief marketing officer of Friends Provident International.
People Moves | 21 Dec 16
Ex-BlackRock fund manager goes to jail for insider dealing
A former fund manager at US giant BlackRock, Mark Lyttleton, has been jailed for one year after admitting two counts of insider dealing.
North America | 21 Dec 16
Canadians using offshore tax amnesty to name advisers
Canadian taxpayers wanting to use voluntary disclosure programmes (VDP) should have to identify advisers who helped them avoid paying tax, the Canada Revenue Agency’s (CRA) Offshore Compliance Advisory Committee has recommended.
North America | 21 Dec 16
Cayman Islands plans beneficial ownership platform
The Cayman Islands will gazette two pieces of legislation before Christmas that will pave the way for the jurisdiction to create a platform where overseas authorities can access information on the beneficial owners of companies and other financial entities.