New Zealand life insurers pay most commission
NZ reserve bank said the high level of commission life insurers pay to advisers can create ‘conduct risk’
Industry
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Celebrities hit with first US initial coin offering fines
Boxer Floyd Mayweather and music producer DJ Khaled failed to disclose payments to endorse ICOs
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Former Lumiere Wealth boss gets 7-year jail term
Sentencing was delayed as the fraudster helped Guernsey authorities with a similar investigation
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Fidelity launches water and waste fund
It will be available for sale in 23 European countries including the UK, Luxembourg, France and Germany
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STM skilled person review costs hit £0.3m
The group has implemented all recommendations made by Deloitte
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India’s HNW population growing quickest in Asia Pacific
Capgemini report found the country had the fastest growth of wealthy individuals in 2016-2017
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Hong Kong regulator working to widen fund distribution
Banks currently dominate distribution channels
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Private equity firm acquires majority stake in Zedra
The deal is expected to complete in 2019 but remains provisional pending full regulatory approval
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UK investment fraudster jailed for five years
Friends and acquaintances invested nearly £3m in the ‘appalling’ scam
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Deutsche Bank investigated over Panama Papers
Fallout hits German bank more than two years after Mossack Fonseca scandal broke
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Quilter’s financial advice arm makes triple UK swoop
Three firms based in Blackburn, Surrey and Cheltenham have been acquired
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Investment firms partner to launch innovative ETFs in Malaysia
Roll out could ‘act as a catalyst for the growth of the overall Malaysian ETF market’