Hong Kong regulator targets big guns
In separate moves, Hong Kong’s Securities and Futures Commission (SFC) this month has gone after UBS, Deutsche Bank and brokerage firm CLSA for regulatory breaches.
In separate moves, Hong Kong’s Securities and Futures Commission (SFC) this month has gone after UBS, Deutsche Bank and brokerage firm CLSA for regulatory breaches.
When markets fall, consumers who have transferred out of a defined benefit (DB) scheme and started accessing their pots could potentially face a crisis in their retirement, a director from advice firm Tuto Associates has argued.
Phoenix Group’s acquisition of Standard Life’s insurance arm is “testament to the current re-shaping of the UK life insurance industry” and the “break-up of traditional models”, the group’s chairman said.
Advisers and their clients will be able to digitally rebalance investments using a digital offering launched by Zurich International Life.
Online advertisements promoting cryptocurrencies and initial coin offerings will be banned on Google, the tech giant has announced.
The marriage of late comedian Ken Dodd to his long-term partner, and the fact that HM Revenue & Customs lost out on nearly £3m ($4.2m, €3.4m) as a result, has prompted questions about the timing of financial planning, especially so-called “deathbed planning”.
The asset and wealth management industry is about to usher in a period of disruption, with cyber security threats a big concern, chief executives across the sector have warned.
The final joke was on the UK taxman, as Liverpudlian comedian Sir Ken Dodd married his partner of more than 40 years just days before his final curtain, ringfencing his fortune from IHT.
Regulation is only “one piece of the puzzle” in addressing financial services culture, according to the UK Financial Conduct Authority (FCA), which has released a paper it hopes will create debate and promote a positive change in the industry.
Increasing numbers of middle income earners in the UK are being hit by the reduced lifetime allowance (LTA), with a 40% increase in people triggering an extra tax charge in tax year 2016/17, according to Old Mutual Wealth.
It is now less than a year until the Isle of Man Conduct of Business Code comes into force, International Adviser spoke to several firms headquartered on the island to see how they are preparing for the introduction of the regulation.
The discrepancy between the average pay of male and female asset managers is gaining considerably more traction in 2018. But does the industry care enough about closing the gap? Or is this another box-ticking exercise?