China’s Anbang eyes sale of Belgain insurer
Troubled Chinese insurance giant Anbang is reportedly exploring options to sell Belgian insurer Fidea.
Author: Tom Carnegie
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UK compensation scheme declares 3 advice firms in default
Clients of three failed financial advice firms can now get their money back after the UK’s Financial Servies Compensation Scheme (FSCS) declared them in default.
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PEOPLE MOVES: Ardan chief executive departs
Ardan International’s chief executive announces his departure, Holborn’s Hong Kong chief executive moves to the US, while a senior adviser re-joins Barclays Wealth Management.
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Praemium’s funds under administration rocket past A$8bn
Australian platform Praemium announced that gross inflows of A$760m over the last quarter have driven funds under administration to A$8.3bn (€5.2bn, £4.6bn, $6.1bn).
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Aviva bids ‘adios’ to Spain
Aviva has completed its exit from Spain’s life and pensions marketplace after selling its entire shareholdings in its joint venture operations in the region.
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Quilter acquires third UK advice firm
Quilter’s financial planning arm, Old Mutual Wealth (OMW) Private Client Advisers, has acquired the advice business of accountancy firm Saint & Co.
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Troubled Sipp provider sees revenue soar by 35%
Liberty Sipp, which is currently facing multiple claims of mis-selling unregulated investments, has seen its assets under management surge to £2.95bn ($3.9bn, €3.3bn), according to its latest annual report.
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Antiquated Australian tax residency rules face overhaul
Australia’s individual tax residency rules have not changed in 90 years and desperately need modernisation and simplification, the country’s Board of Taxation has found.
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UK Sipp market to grow by £1.9bn a year
The UK self-invested personal pension (Sipp) market is expected to grow by £1.9bn a year to 2020 despite rising customer complaints, according to the latest research by GlobalData.
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UK government considers flat-rate pension tax
HM Treasury is investigating whether to introduce a flat rate of pension tax relief, in a bid to raise an extra £4bn (€4.5bn, $5.3bn) a year for the National Health Service (NHS).
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Credit Suisse Hong Kong to pay $77m for corrupt hiring scheme
Credit Suisse’s investment bank in Hong Kong will pay a total of $77m (£58.2m, €65.9m) to settle criminal and civil proceedings taken by the US Department of Justice and the Securities and Exchange Commission (SEC) for its role in a corrupt hiring scheme.
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Mis-sold Sipp complaint upheld in rare move
The UK’s Financial Ombudsman Service (FOS) has upheld a mis-selling complaint involving an unregulated introducer and self-invested personal pension (Sipp) provider Guinness Mahon.