Europe
Ocorian expands fund services reach with Lux acquisition
Financial services provider Ocorian has agreed to buy MAS International, an independent fund administration company operating primarily in Luxembourg and Mauritius.
EU warns regulators to stop ‘letter box’ investment firms
A European watchdog has urged a crackdown on investment firms setting up ‘letter box’ entities across the continent in the wake of the Brexit vote.
Generali puts $50bn German life book up for sale
Italian insurer Generali has put its $50bn (£38bn, €44bn) closed book German life insurance unit up for sale as part of a worldwide restructure of its European operations, Reuters has reported.
Spain bows to pressure to introduce nationwide tax rates
Spain has unveiled plans to reform its nationwide tax system amid mounting pressure on the government to address “substantial tax disparities” between the country’s 17 autonomous regions.
France to push ahead with cuts to wealth tax
French president Emmanuel Macron has promised the government will press ahead with promised tax cuts overruling earlier suggestions by prime minister Edouard Phillippe that key campaign policies would be postponed until 2019 as France struggles to contain its public deficit.