UBS man connected to Baer hot seat
Veteran private banker Jürg Zeltner, UBS’s wealth management chief excluding North America, has been touted as Boris Collardi’s successor as chief executive of Julius Baer.
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Landmark FCA market abuse fine hits £70,000
An Aim-listed investment company has been fined by the Financial Conduct Authority for failing to disclose inside information, the first such ruling since market abuse regulations came into force in 2016.
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Advising British Steel pension transfers too risky, says SJP
Continuing to provide defined benefit pension transfer advice to members of the British Steel Pension Scheme (BSPS) could put St James’s Place “outside its risk appetite”, the firm said.
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SJP stops British Steel pension transfers amid industry scam concerns
The chair of the UK’s Work and Pensions Select Committee has described the British Steel Pension Scheme as a “honeypot for scammers”, as St James’s Place confirms it has stopped accepting transfer requests from scheme members in an unrelated move.
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Fraudster given 400 extra days in prison
A UK conman who cold called and pressurised investors has been given additional jail time for failing to pay back ill-gotten gains.
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UAE exploring more taxes
The UAE Government is considering introducing further taxes in addition to value-added tax but has confirmed that a levy on income will not be up for discussion.
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LatAm advice industry ‘picking up speed’
The advice market in Latin America is picking up speed, according to Temenos’ regional director Enrique O’Reilly who sees three key trends backing up a positive economic picture.
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Liechtenstein denies pushing for Swiss tax haven inclusion
Liechtenstein officials have denied any involvement after Swiss authorities demanded an explanation following reports that the tiny principality had pressed for Switzerland’s inclusion on the EU’s tax haven watchlist.
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FCA slammed for failings linked to passporting Cyprus adviser
The Financial Conduct Authority has promised to clarify the limitations of consumer protection where a firm is in another jurisdiction after the Complaints Commissioner criticised its handling of an EU-passported financial adviser from Cyprus and recommended it apologise to the investors at the heart of the complaint.
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People Moves: J Safra Sarasin, Aviva and Julius Baer
J Safra Sarasin has bolstered its ultra-high net worth team in Singapore, while an equities heavyweight has resurfaced at Aviva Investors and Julius Baer has nominated an ex-Goldman Sachs alum to its board of directors.
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Implications of blacklisting for UAE
UAE officials should not be overly concerned about the jurisdiction’s inclusion in the European Union’s tax haven blacklist, despite pledging to get it removed, an international tax expert has said.
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ANZ sells life insurer to Zurich
Zurich Insurance Group has entered into an agreement to acquire 100% of ANZ Bank’s Australian life insurance business.