Regions
North America | 11 Nov 16
Trump win casts doubt over US fiduciary rule
President-elect Donald Trump may look to overturn the US Department of Labor’s fiduciary rule, set to go live in April, requiring specialist retirement advisers to put their client’s interests first, although some say scrapping it is unlikely.
Best Practice | 11 Nov 16
UK advisers working longer to keep up with demand
At an average fee of around £157 ($195, €179) an hour, a large proportion of UK advisers are having to work longer hours to keep up with demand, according to a new survey by insurance giant Prudential.
EU to crack down on advisers using ‘aggressive’ tax planning
Financial advisers could be forced to report “aggressive” tax planning schemes which help clients avoid paying tax, according to new plans being considering by the European Commission.
Ex-BSI banker jailed for forgery in Singapore’s IMDB scandal
A former senior BSI Bank vice president was jailed on Friday for 18 weeks by a Singapore court, for forgery and failure to disclose suspicious transactions as part of the investigations into the 1Malaysia Development Bhd (1MDB) money laundering scandal.
North America | 10 Nov 16
US Republicans want Fatca repeal despite $10bn tax haul
The US Foreign Account Tax Compliance Act (Fatca) could be repealed when Donald Trump becomes president if the Republican Party sticks with its 2016 policy platform, despite more than $9.9bn (£8bn, €9bn) being paid through voluntary compliance efforts.