Contentious proposals to cap lifetime superannuation fund contributions were not included in the first tranche of draft legislation released by the Australian treasury on Wednesday but remain under consultation.
Panama is planning to take action against those accusing it of being a tax haven, as the country continues its efforts to draw a line under the Panama Papers data leak that saw millions of documents stolen from law firm Mossack Fonseca.
Aviva Investors has added four senior people to its client solutions team, while Manulife has named its new chief operating officer. Aegon’s chief financial officer is to depart, with Axa Investment Managers boosting its management team.
Old Mutual Wealth’s protection offering has been added to quote comparison service UnderwriteMe to cut down the lengthy application process and provide advisers with online access to fully underwritten quotes.
Islamic insurance company earnings in Gulf Cooperation Council (GCC) states are relatively weak and unevenly distributed, hampered by an overcrowded market and a focus on low-margin retail products, according to S&P Global Ratings.
Schroders has become the latest associate member to join Fecif, the European Federation of Financial Intermediaries and Financial Advisers.
Hong Kong’s Securities and Futures Commission (SFC) has banned two former HSBC employees from re-entering the financial services industry for life after they were convicted of fraud.
Hargreaves Lansdown will not offer a service for investors to sell their annuities when the UK government scheme launches next year, citing too many risks for investors.
Fund management group Liontrust has made six of its global fund (GF) range available on European open architecture mutual fund platform, Allfunds Bank.
Axa Investment Managers has named a global head of product, retail and institutional development, while Old Mutual Global Investors has created a country head position in Italy. Following a battle with cancer, Standard Life’s head of adviser engagement has died.
With no date set for new UK chancellor Philip Hammond’s autumn statement, and no hints as to what it will contain, the financial services industry will continue treading water, said Jon Gwinnett, pensions technical manager at Nucleus.
Fewer than a fifth (17%) of UK advisers think that clients who feel squeezed keeping up with bills and repayments would put any extra money towards their pension savings, research from Royal London has found.
