Europe
Carmignac slams MiFID over jeopardising
Edouard Carmignac has said the plans to ban rebates to independent financial advisers proposed in the Markets in Financial Instruments Directive (MiFID) will put Europes open architecture distribution model in serious jeopardy.
WMA doubts RDRs future in a MiFID worlsd
The Wealth Management Association (WMA) has cast further doubt on whether the UK’s Retail Distribution Review (RDR)and the upcoming Markets in Financial Directive (MiFID II) will be able to coexist, as it attempts to cope with the latter’s “horrendous” consultation period.
german banks in us sanction fine talks
The US authorities have begun settlement talks with Germany’s Commerzbank and Deutsche Bank over their dealings with countries blacklisted by the US.
Lyxor looks to European loan market
Lyxor has launched a senior debt fund that will focus on investments into the European loan market in a bid to capitalise on high yielding debt.
DeVere’s Green sells majority stake in STM Group
De Vere Group chief executive, Nigel Green, has sold a majority of his shares in QROPS provider STM.