Regions
First westerner charged over Singapore’s IMDB scandal
Swiss national Jens Sturzengger has become the first westerner to be charged by a Singapore court as part of the investigations into the 1Malaysia Development Bhd (1MDB) money laundering scandal.
South Africa to bring in 50% cap on upfront commission
South Africa’s Financial Services Board (FSB) will limit upfront commission to 50%, with the remainder set to be paid on an “as and when” basis as further details emerge on how the regulator will introduce the first set of Retail Distribution Review (RDR) measures.
European robo-adviser plans UK launch promising 20% returns
European wealth management firm Novofina will launch in the UK this year bringing “state-of-the-art” algorithms which it claims can deliver 20% returns for investors.
Tax & Regulation | 5 Jan 17
UK upholds use of controversial APNs to tackle tax avoidance
HM Revenue & Customs (HMRC) has said it will continue to use accelerated payment notices (APNs) to combat tax avoidance schemes, despite concerns that the penalties are “morally questionable”.
US policy drives Bank of Singapore’s glum outlook on China
Potentially aggressive US trade policy and China’s expanding credit are top concerns, according to Richard Jerram, the Bank of Singapore’s (BoS) chief economist.