A UK advisory firm must compensate a client it advised to give up a guaranteed cash sum and annuity rate to invest in illiquid storage units, the Financial Ombudsman Service (FOS) has ruled.
A bill to replace the Cayman Island’s controversial ‘secrecy law’, which would remove criminal sanctions for the unlawful disclosure of information, has been submitted to the jurisdiction’s legislative assembly.
An Australian financial planner is suing his former employer Westpac Institutional Bank for A$800,000 ($591,704, £444,479) on the grounds that his colleagues gave him bad advice about investing in structured financial products.
UK-headquartered AES International, which provides financial advice to expats across the Middle East, has opened a new office in the Dubai International Financial Centre (DIFC) after gaining a licence from the Dubai Financial Services Authority (DFSA).
As banking stocks plummeted on Friday morning, Bank of England governor Mark Carney sought to remind the market that they are in good health and reassure investors the BoE stands ready to do whatever is needed.
A former Credit Suisse banker, who has been on the run for five years, pleaded guilty in a US federal court on Wednesday to helping Americans evade paying tax.
The Australian Securities & Investments Commission (Asic) has commenced proceedings against Macquarie Investment Management relating to a A$30m (£15.3m, $22.4m, €19.9m) investment in a Cayman Islands-based fund.
The US Securities and Exchange Commission said it has obtained a court order freezing the assets of an investment adviser charged with secretly siphoning millions of dollars from professional sports stars in an alleged Ponzi scheme.
The UK’s Financial Conduct Authority has named a working group that will take forward three key recommendations of the Financial Advice Market Review.
Five people appeared at London’s Southwark Crown Court on Thursday accused of promoting and selling shares in a company through a succession of boiler room scams.
Schroder Investment Management (Hong Kong) and State Street Global Advisors have been fined by Hong Kong’s Securities and Futures Commission (SFC) for two separate regulatory breaches.
Damian Clarke, a former equities trader at Schroders Investment Management, has been sentenced to two years in prison for insider dealing.
