After a bruising appearance at Australia’s Royal Commission, AMP has been served with two class action proceedings, while the firm’s interim chief executive offers a mea culpa and shareholders reject pay proposals.
The ex-chief executive of China’s beleaguered Anbang Insurance Group has been sentenced to 18 years in jail for corruption and fraud and will have assets worth CNY10.5bn (£1.2bn, $1.6bn, €1.4bn) confiscated by the state.
Despite a spate of China ETF delistings in Hong Kong, Vanguard is about to launch its first China-focused exchange traded fund in Hong Kong.
Financial institutions and advisers will be hit with higher levies after the Australian Government announced additional funding for two regulatory bodies to support their work with the ongoing Royal Commission.
Australia banking giant ANZ has announced it will stop paying bonuses to financial planners selling its products, as it looks to change its banking practices in response to a royal commission focussing on misconduct in the sector.
Old Mutual Wealth appoints an industry veteran to its specialist pensions team, the Phoenix Group chairman announces his retirement and embattled AMP appoints an executive chairman.
The chief executive of Providence Companies Group has admitted to orchestrating a $150m (£110m, €125m) scam that duped mostly elderly and vulnerable people across the world.
Wealth managers will have to offer tailored products to high net worth expats if they want to succeed in the fiercely competitive sector, with non-resident Indians (NRI) and Chinese lucrative target markets, according to data and analytics company GlobalData.
When it comes to running a sustainable financial advice business, the top concern for advisers is the growing burden of administration and not having enough time to generate new income streams, according to research by Masthead.
The Monetary Authority of Singapore (Mas) has banned a former Credit Suisse banker for deliberately concealing the identity of the true beneficial owners of three bank accounts.
National Australia Bank (NAB) is to exit its advice, platform, superannuation and asset management business by the end of 2019, according to the bank’s financial results.
The Australian Financial Complaints Authority (Afca) will provide “free, fast and binding dispute resolution to consumers and small businesses” from 1 November 2018.
