Australia
Australia’s JBWere cuts adviser commissions
Australian financial advisers JBWere, a unit of National Australia Bank (NAB), plans to revamp its remuneration structure and cut adviser commission rates in line with changes in the domestic and global regulatory environment.
Tax & Regulation | 23 Jun 16
Australian watchdog takes action against Macquarie IM
The Australian Securities & Investments Commission (Asic) has commenced proceedings against Macquarie Investment Management relating to a A$30m (£15.3m, $22.4m, €19.9m) investment in a Cayman Islands-based fund.
Potential pitfalls of the Lifetime Isa – Royal London
To be introduced in the UK in April 2017, the Lifetime Isa (Lisa) is intended to incentivise people to save for their first home, their retirement, or both. But research published by the independent Pensions Policy Institute (PPI), sponsored by Royal London, compares the tax-free savings scheme with its international counterparts and highlights some challenges that may arise.
Australian regulator moves to enforce ‘client first’ rule
The Australian corporate regulator has decided to prosecute a financial advisory business for alleged breaches of a new law which requires firms to ensure their advisers put the interests of clients first.
Complexity of Asia hinders fund passport schemes
Varying tax and regulatory issues across the region could disrupt the Asia Region Funds Passport initiative, according to Mostapha Tahiri, chief executive and head of asset and fund services for Asia at BNP Paribas Securities Services.