MUFG acquires UBS AM’s Alternative Fund Services
MUFG Investor Services, the global asset servicing arm of Tokyo-based Mitsubishi UFJ Financial Group, has acquired UBS Asset Management’s Alternative Fund Services (AFS) for an undisclosed sum.
Author: Kirsten Hastings
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UK Treasury to consult on handing buy-to-let powers to BoE
The Treasury is expected to launch a consultation this week aimed at handing increased oversight of the UK’s buy-to-let mortgage market to the Bank of England (BoE).
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FCA assessing barriers to social investment
The UK’s Financial Conduct Authority (FCA) has launched a public consultation on how well the social investment market regulation is functioning.
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Zurich promotes Shaughnessy to head of Global Life
Gary Shaughnessy, chief executive of Zurich UK Life, has been named chief executive of Zurich’s Global Life business and appointed to the group’s executive committee.
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HMRC targeting HSBC Jersey clients for voluntary disclosure
HM Revenue & Customs said it has sent letters to customers of HSBC Jersey advising them to sign a declaration that they do not owe any UK tax on their offshore assets, placing some customers between the proverbial rock and the hard place.
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IFA and tax promoter guilty of film tax fraud
An IFA and an accountant have been convicted of attempting to steal millions in a tax fraud linked to the film industry.
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SLI controversially ends trail commissions
Standard Life Investments (SLI) has written to financial advisers informing them that they will no longer receive renewal commission on SLI retail class shares from 31 March 2016.
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Northstar appoints head of distribution
Bermuda-based Northstar Financial Services has appointed Alejandro Moreno to its newly created role of head of distribution.
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Two moved up and one out as OMW announces people changes
Old Mutual Wealth (OMW) has announced some people changes that have seen chief distribution officer Mary-Anne McIntyre depart after only three months in the job.
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Recently retired wealthier than the under-45s
Those aged between 65 and 74 own a greater proportion of the UK’s wealth than those under the age of 45, according to think tank the Resolution Foundation.
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Sanlam to realign UK businesses
Financial services group Sanlam will amalgamate its UK businesses from 1 January 2016, with all of the businesses falling under the responsibility and management remit of a single corporate entity.
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EU long-term investment funds launched to little fanfare
The European Long-term Investment Fund (ELTIF), a new type of regulated fund that can provide a steady income stream for pension administrators, insurance companies, foundations, and other entities seeking long-term returns, entered into force on Wednesday.