Indian financial conglomerate Centrum Group has obtained an insurance broking licence from the Insurance Regulatory and Development Authority of India (IRDAI), with which it plans to expand its business.
Plans for significant changes to Canada’s voluntary tax disclosure programme (VDP) have been criticised by trade groups representing the country’s lawyers and accountants.
Boutique asset manager Unigestion has “significantly expanded” its fund distribution network by joining the MFEX platform, which offers 50,000 funds to investors in 30 countries.
The UK government’s decision to make pension transfers into recognised overseas schemes a statutory right has been welcomed by the industry, but experts caution that advisers will need real expertise to ensure clients don’t fall victim to scams.
Investment giant Standard Life Aberdeen has hired a director for its onshore China business, while HSBC Private Banking has appointed a head of funds and Etfs and Aviva Investors has added a head of multi-asset products.
Client compensations for misconduct in the Australian financial services industry nearly tripled to A$618.8m (£381.2m, $490m, €416.2m) in the first half of the year, figures contained in the Australian Securities and Investments Commission (Asic) biannual enforcement report show.
Having a good life insurance policy is an important component of long-term financial planning and the best financial protection clients can offer their loved ones. But a reluctance to talk mortality and pervasive myths mean that some people still are not covered, says Globaleye’s Tony Ashton.
While welcoming the UK Government’s decision to resurrect a ban on pension cold calling, many industry figures have expressed concerns on how long it will take to implement.
IFAs have not unanimously welcomed the UK Government’s revived and extended plans for a ban on pension cold calling, announced Monday as part of a raft of measures to tackle pension scams.
People retiring now must cope with pension income that is 46% lower than they could have expected had they retired immediately before the global financial crisis, analysis from Fidelity International has found.
A group of US citizens living abroad “lack standing” to challenge the US Treasury Department’s taxes on their foreign bank accounts, the country’s Court of Appeals for the Sixth Circuit ruled on Friday.
Just a few hundred South African taxpayers have taken advantage of the country’s special voluntary disclosure programme (SVDP) which is due to end on the 31 August.
