Regions
Could Mifid II spark a market downturn?
The rule requiring managers to report any 10% fall in a portfolio to clients will do little to discourage the buy high/sell low mentality of the man on the street, but, that said, it remains unlikely that Mifid II will push markets into a downward spiral.
Best Practice | 11 Jan 18
HMRC penalty policy needs urgent clarification
UK taxpayers owning up to past mistakes could face a 10% fine, according to changes to HM Revenue & Customs’ penalty factsheets.
Convoy warns of dodgy shares
Embattled Convoy Global has warned investors against dealing with shares that it alleges were wrongly allotted to six individuals; including the company’s second largest shareholder, who recently failed to remove several executive directors in a thwarted boardroom takeover.
Ex-StanChart Private Bank head charged with bribery
A former private banking head at Standard Chartered Bank in China has been charged by Hong Kong’s Independent Commission Against Corruption (ICAC) this week with accepting a bribe.
M&G begins Brexit-linked shift of funds to Luxembourg
Fund manager M&G Investments has begun to transfer the assets of four UK-domiciled open-ended funds with assets of around €10.5bn (£9.3bn) to equivalent funds on its Luxembourg platform.