MPs make urgent cold calling plea
MPs have called on the UK Government to accelerate the implementation of a pensions cold calling ban alongside enhanced pension freedoms safety measures.
Industry
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Mike Coady to depart Guardian Wealth Management
Guardian’s chief commercial officer Mike Coady will be officially leaving the company in January 2018, the firm has announced.
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UK financial services bans at post-crisis low
Just 18 people were handed prohibition orders from the Financial Conduct Authority in the year to 30 September 2017, down from its peak of 72 in 2010.
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Prudential strikes deal to widen advice offering
Prudential Financial Planning has struck a deal with The SimplyBiz Group to offer access to wider life insurance and critical illness cover.
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Advice to take on new meaning in January
The UK regulator is to introduce a new definition of advice on 3 January 2018 in a move to bring it in line with the Mifid II definition.
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PEOPLE MOVES: St James’s Place, 7IM, Deutsche Bank
St James’s Place appoints senior adviser in Asia, 7IM sacks its chief investment officer and Deutsche Bank adds two wealth management teams for Asia push.
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Convoy execs arrested for suspected corruption
Three senior executive of Convoy Financial Services, one of Hong Kong’s largest IFA firms, have been arrested on suspicion of corruption and eight properties raided, the Independent Commission Against Corruption (ICAC) has confirmed.
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Finance minister floats Singapore wealth tax
Singapore’s rich could face a tax on their privately-held wealth if the city-state’s finance minister follows through on an off-the-cuff remark he made on Thursday, but analysts are worried it could negatively impact Singapore’s reputation.
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Chinese asset manager becomes second biggest HSBC stakeholder
The asset management arm of China’s Ping An Insurance has become the second largest shareholder in HSBC after a recent acquisition pushed its stake over the 5% stock exchange notification threshold.
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10 Chinese banks oppose new asset management rules
New rules from China’s Central Bank that look to tighten regulations in the asset management industry have reportedly been opposed by 10 national joint-stock banks.
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International financial adviser hits £1bn milestone
International professional services firm Mazars is to add £300m in assets following the acquisition of RCL Consultancy from The Embark Group.
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UAE questions US omission from tax haven blacklist
Dubai wealth managers have questioned why countries like the US and Switzerland have been left off the EU tax haven blacklist but the UAE has been included.