Singapore
Former French budget minister jailed for tax evasion
Jerome Cahuzac, a cosmetic surgeon and former French budget minister tasked with cracking down on tax evasion, has been jailed for three years after he was found guilty of tax fraud and money laundering.
Singapore regulator considers ethics training for advisers
The Monetary Authority of Singapore (MAS) is looking to introduce an ethics module in exams taken by financial advisers and capital markets intermediaries, in the wake of the 1MDB scandal.
Singapore’s AAM on life after being acquired by Old Mutual
Old Mutual Wealth’s shock decision in February to buy AAM Advisory, the largest expat-focused IFA firm in Singapore, has in some ways felt like “having a tooth removed”, according to chief executive Matthew Dabbs.
Singapore bans star dealmaker as banks fined £5.3m over 1MDB
An ex-Goldman Sachs banker is facing a ban from Singapore’s securities industry , while Standard Chartered and Coutts have been hit with record fines for their roles in Malaysia’s 1MDB scandal.
Singapore’s 55% commission cap ‘good news’ for some advisers
The impact of Singapore’s 55% cap on commission payments may not be as severe or restrictive as once thought, and may even see some advisers slightly better off, an industry source told International Adviser.