News
Hefty $1m penalty a warning to Aussie financial advisers
An Australian financial advice firm has been hit with a A$1m ($766,575, £581,700, €659,100) civil penalty, the first handed out by the Federal Court of Australia for failing to act in the best interests of its clients in accordance with the Future of Financial Advice (Fofa) reforms.
Big shake-up to UK compensation scheme funding proposed
Product providers could be on the hook for 25% of the Financial Services Compensation Scheme (FSCS) costs currently paid by intermediaries, according to a consultation document released Monday.
Analysis: Asia’s advisers called to arms
Winners of International Adviser’s Best Practice Adviser Awards in Asia have called on their peers, product providers and regulators in Hong Kong and Singapore to help drive positive change within the industry.
Glimmer of hope for US expats on citizen-based taxation
The US Republican party is reportedly looking to eliminate requirements for citizens abroad to pay taxes both overseas and in the US, according to UK newspaper the Financial Times.
SEC clears path to US research post-Mifid
The Securities and Exchange Commission (SEC) has announced that UK investment firms will be able to temporarily access research from the US post-Mifid II.