UAE questions US omission from tax haven blacklist
Dubai wealth managers have questioned why countries like the US and Switzerland have been left off the EU tax haven blacklist but the UAE has been included.
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Offshore advisers fear new regulatory burden from HMRC
Offshore advisers have given a cautious thumbs-up to additional requirements to tell HM Revenue & Customs when they set up complex offshore schemes but have expressed concern that legitimate schemes could be targeted as well as abusive ones.
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Hong Kong IFA firm Convoy halts trading following raids
Trading of Convoy Financial Services shares have been suspended on the Hong Kong Stock Exchange (HKSE) following multiple reports authorities have raided offices, homes and arrested executive directors.
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Exposing the true cost of investing
Just the threat of transparency will push asset managers to offer discounts to retail and institutional investors, according to one industry expert who is on a quest to uncover the true cost of investments and the apparent conspiracies against transparency in the market.
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UK Treasury predicts 16m people will benefit from robo-advice
Asset and wealth managers have been urged to embrace robo-advice in order to reach millions in need of money advice in the UK by an HM Treasury paper published Wednesday.
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Aberdeen gets Chinese onshore license
Aberdeen Standard Investments has secured registration as a private securities investment fund manager, making it one of only eight foreign asset management firms to gain the licence.
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EU grey list must not let tax havens ‘off the hook’
Oxfam has warned that the EU grey list of non-cooperative jurisdictions for tax purposes should not be treated as a way of letting tax havens “off the hook”, as those named try to get to grips with the implications of their inclusion.
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Nigel Green on retaining staff after high profile departures
DeVere Group founder and chief executive Nigel Green admits it has been a challenging year in the UAE and part of his strategy going forward is to boost morale with a new emphasis on retaining staff and clients in the final of a three-part interview with International Adviser.
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Aussie advisers banned for Zurich insurance commission scam
In a bid to maximise upfront commission, two Australian financial advisers have been banned from providing financial services for life for falsifying insurance applications on behalf of unsuspecting clients.
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Insurance broker Bluefin fined £4m
The Financial Conduct Authority has fined Bluefin Insurance Services for failing to inform customers about its independence in a way that was clear, fair and not misleading while it was owned by Axa UK.
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Managing clients’ fear of missing out on Bitcoin
As Bitcoin surges to new heights, how can advisers manage enthusiastic clients’ fear of missing out (Fomo)?
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EU blacklist comes up short on sanctions
The EU has blacklisted 17 jurisdictions, including South Korea and the United Arab Emirates, and put 47 others on notice including Jersey and the Cayman Islands, but it has not said what sanctions or penalties those shamed will face.