Asia
Luxembourg deepens ties with China, signs up two more banks
China Everbright Bank and Shanghai Pudong Development Bank, have confirmed plans to set up a presence in Luxembourg to serve the European market which, when given regulatory approval, will bring the total number of Chinese banks in the Grand Duchy to eight.
Australian banks fined $136m over advice failures
Australia’s financial services regulator has told the country’s ‘Big Four’ and leading wealth manager AMP to repay at least A$178m (£111m, €125m, $136m) to more than 200,000 customers after charging them for financial advice they did not receive.
Farringdon to launch Shariah-compliant robo-adviser in Asia
The Malaysian-based wealth management firm, Farringdon Group, said it plans to launch Asia’s fist Shariah-compliant robo-adviser in December.
China – the source of fintech disruption?
Disruption of the funds management industry through the application of financial technology (fintech) is likely to come from mainland China, according to ICI Global, the international arm of the Investment Company Institute.
IFA bdhSterling denies a fall in demand for Rops
The director of the newly-rebranded bdhSterling has revealed that the advisory firm has seen a dramatic increase in the number of clients looking transfer their pension into a recognised overseas pension schemes (Rops).