News
Law firm loses appeal in ‘mafia risk’ property project
An Italian law firm has lost its appeal against a British High Court ruling that it was under a duty to warn investors over a failed property scheme that is now under investigation for allegedly being a money-laundering vehicle for the mafia and IRA.
Middle East | news 30 Aug 17
Leading advisers predict new UAE rules will cull firms by 50%
New capital requirements for licensed UAE insurance brokers will amount to a “cull” that could see the number of regulated firms drop by more than half, the heads of two large advisory firms operating in the region have suggested.
Fixed Income | news 30 Aug 17
Kempen launches European high yield fund
Dutch-based Kempen Capital Management has launched a European high yield fund targeting returns from BB-rated debt in the junk bond market.
Financial adviser numbers surge in Malaysia
The number of firms engaged in financial planning in Malaysia has increased by 45% since 2015, while the number of licensed financial planners has grown by around 23%, according to Ahmad Fairuz Zainol Abidin, Malaysia’s Securities Commission deputy chief executive.
Best Practice | news 29 Aug 17
Advisers warned to face reality of tough new tax evasion law
International IFA firms, lawyers, accountants and wealth managers need to be “astute to the challenges and effects” of the UK Criminal Finances Act, which comes into effect on 30 September, a leading Channel Islands law firm has warned.