News
Five UK insurers facing FCA review over customer treatment
Old Mutual, Prudential and Abbey Life are among five companies still under investigation by the Financial Conduct Authority over concerns about the transparency of exit and penalty charges in the firms’ closed-book life insurance policies.
Advisers in UAE face tougher environment for financial planning
The chief executive of a leading UAE advice firm has warned that increased regulation will reduce the survival prospects for many financial consultancy firms in the Emirates if the obvious warnings from regulators are ignored.
Investment | news 7 Sep 17
Woodford apologises for ‘incredibly painful’ underperformance
Neil Woodford has spoken out about his fund’s “incredibly painful” recent underperformance and promised to recover the capital lost in a newly released in-depth interview.
Middle East | news 7 Sep 17
Saudi Arabia scales back Vision 2030 plan to diversify economy
Saudi Arabia is redrafting a series of reforms aimed at boosting the country’s non-oil revenue, amid concerns some of the initiatives could negatively impact the economy.
Malta watchdog orders trust firm to halt business
The Malta Financial Services Authority (MFSA) has ordered Confiance Malta Ltd to “immediately” transfer its trusts and fiduciary business to another local provider after it fell short of expected standards.