EEA Investors in danger of missing $90m deadline
Holders of more than 870,000 EEA shares have not acted to stop their funds from potentially being automatically reinvested in similar products, warns action group EEA Investors’ Group.
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Investec expects profit hit from S. African retail investment
Investec has moved to reassure investors that its exposure to the Steinhoff Group of companies will result in a maximum potential loss of around 3% of group post-tax operating profit after the South African retailer was accused of accounting irregularities.
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Expats unhappy with May’s Brexit deal
Angry British expats in Europe have reacted with “shock and surprise” at the Brexit deal struck between the EU and the UK.
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Convoy chairman arrested at airport
The chairman of embattled IFA firm Convoy Financial has reportedly been arrested at Hong Kong airport by the region’s Independent Commission Against Corruption (ICAC), just days after three other senior executives were taken into custody on charges relating to corruption.
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MPs make urgent cold calling plea
MPs have called on the UK Government to accelerate the implementation of a pensions cold calling ban alongside enhanced pension freedoms safety measures.
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Mike Coady to depart Guardian Wealth Management
Guardian’s chief commercial officer Mike Coady will be officially leaving the company in January 2018, the firm has announced.
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UK financial services bans at post-crisis low
Just 18 people were handed prohibition orders from the Financial Conduct Authority in the year to 30 September 2017, down from its peak of 72 in 2010.
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Advice to take on new meaning in January
The UK regulator is to introduce a new definition of advice on 3 January 2018 in a move to bring it in line with the Mifid II definition.
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Convoy execs arrested for suspected corruption
Three senior executive of Convoy Financial Services, one of Hong Kong’s largest IFA firms, have been arrested on suspicion of corruption and eight properties raided, the Independent Commission Against Corruption (ICAC) has confirmed.
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Finance minister floats Singapore wealth tax
Singapore’s rich could face a tax on their privately-held wealth if the city-state’s finance minister follows through on an off-the-cuff remark he made on Thursday, but analysts are worried it could negatively impact Singapore’s reputation.
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Chinese asset manager becomes second biggest HSBC stakeholder
The asset management arm of China’s Ping An Insurance has become the second largest shareholder in HSBC after a recent acquisition pushed its stake over the 5% stock exchange notification threshold.
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10 Chinese banks oppose new asset management rules
New rules from China’s Central Bank that look to tighten regulations in the asset management industry have reportedly been opposed by 10 national joint-stock banks.