Europe
BNP Paribas AM buys majority stake in Belgian robo-adviser
BNP Paribas Asset Management has acquired a majority stake in Gambit, a Belgian fintech firm that will become the preferred partner for robo-advisory solutions for BNP’s retail and wealth management networks.
ANALYSIS: ECB taper edges closer
Just a few months ago, market watchers were convinced the ECB would soon announce it would begin to cut its asset purchases. But even though the European economy has since powered ahead, it now appears unlikely that a detailed tapering announcement will come this year.
Malta watchdog orders trust firm to halt business
The Malta Financial Services Authority (MFSA) has ordered Confiance Malta Ltd to “immediately” transfer its trusts and fiduciary business to another local provider after it fell short of expected standards.
Emerging Markets | 6 Sep 17
Norway oil fund to reduce allocation to EMD, corporate bonds
Norway’s sovereign wealth fund intends to reduce its exposure to emerging market currencies and corporate bonds as it seeks to simplify its fixed income benchmark.
Alternatives | 4 Sep 17
Fecif calls for harmonisation of EU product distribution rules
The legislative barriers restricting the cross-border distribution of funds across Europe have to be removed and replaced with harmonised rules at EU level, the European Federation of Financial Intermediaries and Financial Advisers (Fecif) says.