Asia
Insurer AMP faces two class action lawsuits
After a bruising appearance at Australia’s Royal Commission, AMP has been served with two class action proceedings, while the firm’s interim chief executive offers a mea culpa and shareholders reject pay proposals.
Former boss of Chinese insurer Anbang jailed for 18 years
The ex-chief executive of China’s beleaguered Anbang Insurance Group has been sentenced to 18 years in jail for corruption and fraud and will have assets worth CNY10.5bn (£1.2bn, $1.6bn, €1.4bn) confiscated by the state.
Vanguard to unveil first China ETF in Hong Kong
Despite a spate of China ETF delistings in Hong Kong, Vanguard is about to launch its first China-focused exchange traded fund in Hong Kong.
Aussie advisers to pay for Royal Commission clean up
Financial institutions and advisers will be hit with higher levies after the Australian Government announced additional funding for two regulatory bodies to support their work with the ongoing Royal Commission.
ANZ scraps financial planner bonuses
Australia banking giant ANZ has announced it will stop paying bonuses to financial planners selling its products, as it looks to change its banking practices in response to a royal commission focussing on misconduct in the sector.