North America
North America | 2 Nov 16
US adviser faces CFP ban for conning athletes out of $33m
A professional body representing financial advisers in the US has temporarily banned one of its members for siphoning over $33m (£22.5m, €29.2m) from professional sports stars in an alleged Ponzi scheme.
Best Practice | 31 Oct 16
US releases first set of guidelines for adviser reforms
The US Department of Labor has issued its first set of guidelines on the fiduciary rule, set to go live in April, which will require specialist retirement advisers to put their client’s interests first.
Morgan Stanley vows to keep commissions despite US reforms
Morgan Stanley, one of the largest wealth management firms in the US, has confirmed it will keep commission-based retirement accounts when the Department of Labour’s (DoL) fiduciary rule comes in to effect in April.
North America | 26 Oct 16
Tax hikes expected for the wealthy if Clinton wins
Democratic candidate Hillary Clinton, tipped to be the next president of the US, is expected to introduce a whole raft of new taxes aimed at the nation’s wealthy once she gets into power.
Investment | 26 Oct 16
Around 40% of US advisers back neither presidential candidate
More than 40% of financial advisers in the US believe neither Hillary Clinton nor Donald Trump will have a positive impact on the stock market, the bond market, or the global economy after the new president is announced next month.