One in 10 calls to the FCA about scams
More than one in 10 consumers contacting the Financial Conduct Authority (FCA) do so to report a financial scam and to find out what they can do about it, the UK regulator revealed Thursday.
Author: Kirsten Hastings
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Praemium sacks chief executive Michael Ohanessian
Australia-headquartered platform provider Praemium has terminated the employment of chief executive and managing director Michael Ohanessian.
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Ombudsman orders deVere UK to compensate client
The UK’s financial ombudsman has upheld a complaint against deVere and Partners (UK), in part, after a client accused the international advice firm of “passing the buck”, not providing sufficient advice and making poor investment choices.
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Castle Trust launches multi-jurisdictional Rops
Gibraltar-based Castle Trust Group has launched the Centurion Retirement Plan featuring recognised overseas pension schemes (Rops) in Gibraltar and Malta that allow free switching between the schemes and jurisdictions to suit clients’ changing needs.
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UK advice body touts gov’t financial health check vouchers
Every working adult in the UK should be offered a voucher for a financial health check session with a professional financial adviser, the Personal Finance Society (PFS) has recommended.
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Asian equities defy Trump
Asian equities have given the US the finger. Despite Trump rejecting the TPP, the Asia stock market, as measured by the MSCI Asia ex Japan, was up 3.8% in sterling terms in January – a much better start to the year than all other major markets, bar Latin America.
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Property scheme investment advice unsuitable: Ombudsman
The UK Financial Ombudsman Service (FOS) has determined that advice given to a client by financial advice network The Falcon Group to invest £83,000 ($103,269, €97,263) of his pension fund in a scheme focused on the leisure property industry was not suitable.
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South Africa’s Lombard Life fined by regulator
The Financial Services Board (FBS) of South Africa has fined Lombard Life for not complying with rules about informing policyholders of their right to appeal after the company rejected their claims.
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PEOPLE MOVES: Axa, HSBC, JP Morgan
Axa Life Insurance has lost its head of international brokers in Singapore, while the private banking arms of HSBC and JP Morgan have named regional heads of various European countries.
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Aus eyes beneficial ownership list in tax avoidance crackdown
The Australian government is consulting on setting up and maintaining a register that would reveal the identities of the companies’ beneficial owners.
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PEOPLE MOVES: RBC WM, Moola, Ascot Lloyd
Canada’s RBC has appointed a head of wealth management for its businesses in the UK, the Channel Islands and Asia. Gemma Godfrey’s Moola has poached its chief investment officer from BlackRock, while Ascot Lloyd has created a new head of advice role.
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Heptagon Capital adds trio of Dublin Ucits to range
Asset management firm Heptagon Capital has launched three new Dublin-based Ucits funds run by US-based Driehaus Capital Management and WCM Investment Management, bringing Heptagon’s number of Ucits funds to 11.