Hong Kong regulator pushes for fee transparency
Fund distributors in Hong Kong will have to disclose any monetary benefits they receive prior to, or at the point, of sale, under new proposals from the Securities and Futures Commission (SFC).
Tax & Regulation
-
-
Nine key changes from the UK Autumn Statement
Chancellor Philip Hammond took to the despatch box for his first and final Autumn Statement on Wednesday. To the relief on many he resisted further tinkering of the pension system.
-
Chancellor cuts growth forecasts, announces £23bn ‘productivity fund’
In delivering his Autumn Statement this afternoon chancellor of the Exchequer Philip Hammond announced cuts to growth forecasts and a £23bn ($28.7bn, €27bn) fund to tackle a lack of productivity in the British economy.
-
Australia unveils standards bill on degree-qualified advisers
Australia has introduced a new professional standards legislation that will require financial advisers to be degree-qualified.
-
CoInvestor to UK chancellor: Leave pension freedoms alone
Ahead of Wednesday’s Autumn Statement, alternative assets platform CoInvestor has urged UK chancellor Philip Hammond not to backtrack on pensions freedoms.
-
Guernsey’s MTCL fined, directors banned
Guernsey based fund administration group Marlborough Trust Company Ltd (MTCL) has been fined and its directors banned as part of the ongoing fallout from the Arch Cru investment failure.
-
Seven changes advisers should expect from the Autumn Statement
International Adviser rounds up the expert views on what to expect ahead of the UK chancellor Philip Hammond’s debut Autumn Statement on Wednesday.
-
Cold calling ban a golden opportunity but other dangers lurk
The government’s plans to crack down on pension cold calling have been hailed as a “golden opportunity” to correct the UK’s “disastrous” rules that are as much use as a “chocolate teapot”, says Angela Brooks of Pension Life.
-
Trump must show backbone and repeal Fatca: deVere CEO
US president-elect Donald Trump must show some backbone and repeal the Foreign Account Tax Compliance Act (Fatca) as a priority, says deVere founder and chief executive Nigel Green.
-
Mifid II time consuming and complex, say asset managers
Mifid II is a big concern for around three-quarters of global asset managers, who think regulators need to provide better guidance and tools to navigate the increasingly complex landscape, according to State Street Corporation.
-
Film scheme investors to be hit by big tax bill, says HMRC
HM Revenue & Customs (HMRC) has told tax advisers that it will issue payment demands to investors in the Eclipse Film Partnership schemes at levels potentially 10 times higher than their original investment.
-
UAE insurance regulator to ban indemnity commissions
Indemnity commissions are to be prohibited under new rules proposed by the UAE’s Insurance Authority which regulates life insurance companies and family takaful businesses.