News
ANZ fined A$3m for advice client review failings
Australia’s ANZ Bank has been fined for charging fees but providing no service after the country’s financial watchdog found it had failed to produce documented annual reviews to more than 10,000 financial advice customers over a seven-year period.
Whistleblower in HSBC tax evasion case set free after arrest
A whistleblower who leaked more than 100,000 records from HSBC’s Swiss private banking arm, which led to tax evasion probes across the world, was arrested in Spain but released a day later.
FEIFA adds seven members in three months
The Federation of European Independent Financial Advisers (Feifa) has added seven members to its books in the first three months of 2018, representing membership growth of more than 10%.
Zurich names successor for chief executive EMEA
Gary Shaughnessy is to step down as chief executive for Zurich Europe, Middle East & Africa in the fourth quarter of 2018 for health reasons. His successor has been named as Axa’s Amanda Blanc.
Best Practice | news 5 Apr 18
FCA steers away from pre-RDR trail commission ban
The Financial Conduct Authority (FCA) has “no immediate plans” to ban trail commission on legacy investment products, it has announced in a policy statement that looks to shake-up the asset management industry.