commission ban in singapore not a given says
The pending review of Singapores financial services industry may not lead to a ban on commission payments to financial advisers, according to a senior figure leading the review.
Tax & Regulation
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martin currie fined by fsa and sec
Martin Currie Investment Management has been fined £3.5m by the FSA for failing to manage a conflict of interest, the largest ever fine of its type.
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singapore authority relaxes rules on sale
The Monetary Authority of Singapore has reduced the number of investment funds which are subject to new investor protection rules which came into force at the beginning of this year.
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most banks will miss fatca deadlines
“Many” US and global banking industry executives believe that the majority of banks required to comply with the Foreign Account Tax Compliance Act (FATCA) will not be ready to meet its deadlines some of which begin on Jan. 1, 2013, a survey conducted by KPMGs US operation has found.
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the isle of man signs dta with qatar
UK Crown Dependency the Isle of Man has signed a double taxation agreement with Qatar.
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fpi and morningstar launch five risk rated
Friends Provident International and Morningstar OBSR have launched five risk-rated model fund portfolios.
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ailo calls for improvements to fatca
The Association of International Life Offices has written to the US Treasury seeking improvements to its proposed Foreign Account Tax Compliance Act.
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brazil regulator acquits swim worldwide of licence
South America-based Swim Worldwide Financial has been cleared of breaking the terms of its licence, eight months after the Brazilian regulator put a block on it conducting certain investment activity.
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insurers and asset managers face costly
European insurance companies and asset management firms face a costly and arduous task in satisfying the requirements of the Solvency II regulations set to be implemented on 1 January 2014.
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ima calls for us Treasury to delay fatca
The Investment Management Association has written to the US Treasury asking for a delay to the implementation of its FATCA regualtions.
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us financial planners group says make do better
Building on the existing regulatory infrastructure for overseeing Americas financial advisers would be better than introducing new legislation of the kind introduced this week by House Finance Services Committee chairman Spencer Bachus and Rep Carolyn McCarthy, a group claiming to represent nearly 75,000 US financial planners said.
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us may join uk australia and singapore
US lawmakers have introduced new legislation aimed at boosting the standards of advice on offer from Americas advisory industry, following in the footsteps of the UK, Australia and Singapore.