Baltimore-headquartered Legg Mason Global Asset Management announced Friday that it has acquired majority stakes in EnTrust Capital and Clarion Partners and a minority stake in Precidian Investments, as it seeks to diversify its offering in the face of rising costs.
A number of investors in the UK have lost out twice after six companies were shut down by the High Court for scamming more than £350,000 ($496,000, €456,000) after promising to help them recover investment losses.
Platform provider AJ Bell is set to launch its own range of funds after agreeing to acquire a small London-based investment management business for an undisclosed sum.
Several senior appointments and a departure were announced this week at Sanlam, while Aviva Investors lined up new leadership for liquid markets. First Names made two Isle of Man appointments, with two new appointments to AIC’s board also announced.
Switzerland has signed joint declarations on the automatic exchange of information (AEOI), described as “FATCA on steroids”, with Jersey, Guernsey, and the Isle of Man.
Berkshire Hathaway Speciality Insurance (BHSI) has unveiled four new executive and professional products in Australia, with the Professional First Financial Planners Professional Indemnity (PI) Insurance specifically geared towards the financial advice sector.
The former head of investment advisory for KPMG in the UK, Patrick McCoy, is one of 10 people charged with tax cheating offences who have been ordered to appear at Birmingham Magistrates’ Court next month.
BlackRock has launched an exchange traded fund for European investors to invest directly in the national Israeli index. It is the first fund to offer direct exposure to the underlying constituents of this index.
A double taxation agreement (DTA) has been signed by Canada and Taiwan, limiting the withholding tax rate for dividends, interest, and royalties.
More than 400 securities were listed on the Channel Islands Securities Exchange (CISE) during 2015, an increase of 8% compared with 2014.
Delaying the implementation of Mifid II until January 2018 still might not give enough time for the European Securities and Markets Authority (Esma), national regulators, and market participants to make the necessary IT changes, says Esma chair Steven Maijoor.
Cayman Islands has introduced limited liability company (LLC) legislation that combines the key features of a company and a partnership, intended to increase the structuring options for US investment funds.
