Australia
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.
ANZ to sell $4bn life and pension units to boost capital
ANZ Banking Group is looking to sell its life insurance and pension product unit, valued at up to $4bn (£2.76bn, €3.6bn), say media reports.
HSBC Australia to compensate structured product clients
HSBC Bank in Australia has reached a deal with the industry regulator to compensate clients who received “potentially deficient advice” on retail structured products sold between January 2009 and March 2013.
Investment scams growing rapidly in Australia
The number of investment scams detected in Australia doubled in 2015 and overtook dating and romance scams as the category with the largest financial losses reported by Australians.
Retirement | 11 May 16
Expats in Australia hit by £250K lifetime allowance cap
British expats living in Australia could see their retirement plans derailed following legislation curbing the amount they can save into their pensions.