Asia
Singapore bans star dealmaker as banks fined £5.3m over 1MDB
An ex-Goldman Sachs banker is facing a ban from Singapore’s securities industry , while Standard Chartered and Coutts have been hit with record fines for their roles in Malaysia’s 1MDB scandal.
Australia’s IOOF considers buying ANZ’s wealth business
Australian-listed financial services firm IOOF Holdings has indicated it is interested in buying the ANZ bank’s domestic wealth management business.
St James’ Place doubles adviser numbers in Asia
St James’s Place has expanded its presence in Asia as it moves from servicing expats and looks to target the region’s high net-worth individuals (HNWIs), said Mike Gravestock, partnership director for Asia and international.
Smaller firms likely to bear the brunt of HK fee disclosure
Hong Kong’s enhanced fee disclosure proposals should not have a big impact on banks and fund houses, but may impact smaller intermediaries, according to industry players.
Singapore’s 55% commission cap ‘good news’ for some advisers
The impact of Singapore’s 55% cap on commission payments may not be as severe or restrictive as once thought, and may even see some advisers slightly better off, an industry source told International Adviser.