News
China’s Lufax launches offshore retail platform in Singapore
Lu International, a subsidiary of Shanghai-based wealth manager Lufax Holdings, is launching its first direct-to-consumer online investment platform for Chinese overseas retail clients.
PEOPLE MOVES: Fidelity, Jersey Finance, Invesco Perpetual
Fidelity International has poached its new multi-asset co-portfolio manager from Henderson and Jersey Finance has a new business development director for funds. Meanwhile, Neptune’s Douglas Turnbull is set to join Invesco Perpetual.
DeVere’s Nigel Green criticises high fees—charged by banks
Nigel Green, founder and chief executive of the deVere Group, has hit out at the “unacceptably high” charges banks slap on customers when they use their debit cards overseas.
Non-resident Indians face tough new disclosure rules
Non-resident Indians around the world will have to disclose offshore bank account details in tax returns for the first time this year, as part of a tough transparency crackdown by their home country’s tax office.
Tax & Regulation | news 17 Jul 17
FCA reveals 8 firms rapped for pension transfers last year
The Financial Conduct Authority has confirmed that it took action to stop eight UK firms, including deVere and Holborn, conducting and/or arranging overseas pension transfers in the last financial year but has declined to name them all.