Chinese insurance giant Anbang is to get a capital injection worth RMB60.8bn (£6.9bn, $9.7bn, €7.9bn), a month after control of the group was seized by the country’s insurance regulator and as its ex-chairman faces life behind bars.
A disgraced Australian businessman has been sentenced to 10 years in jail for his involvement in a A$135m (£74m, $103m, €84m) international tax avoidance scam, bringing an end to what has been described as the largest tax fraud case in the nation’s history.
Prison sentences and “unlimited fines” are two draconian penalties HM Revenue & Customs (HMRC) will have at its disposal from next week for UK taxpayers who evaded tax through offshore means in tax year 2017/18.
IFA firms should “wrest control” of their businesses from life companies based on the Isle of Man before the Conduct of Business Code comes into force, the director of Thames River International has argued. A move described by one industry source as “dodgy” and a “stain on the industry”.
The chief executive of Chinese insurance giant Anbang is facing life behind bars after being put on trial for illegal fundraising, fraud and embezzlement by the country’s regulatory watchdog.
Government policies have boosted the appeal of Indian equities and the country’s interdependence from global trade risks makes it an attractive long-term bet, according to Blackrock.
Marlborough hires a head of business development from Brooks Macdonald, the Chartered Institute for Securities & Investment appoints a board chairman, while a former Blackrock employee joins State Street to head ETF model portfolios.
Investors should stay away from what they perceive as “safe sectors”, such as consumer staples and telecommunications, as they have accumulated more debt, according to Shaniel Ramjee, London-based senior investment manager for multi-asset at Pictet Asset Management.
Cape Town-based Miton Optimal, a discretionary fund management specialist firm, has received a full capital markets licence from the Monetary Authority of Singapore.
WHIreland hires a PWC partner as non-executive chairman, AIA Singapore announces its next chief technology adviser while HANetf appoints a former Blackfriars employee as director of operations.
The EU Commission has sent a “wake-up call” to those on its blacklist for non-cooperative tax jurisdictions, announcing its first sanctions to counter their “aggressive tax practices”.
The Financial Conduct Authority and the Australian Securities and Investments Commission have signed an enhanced fintech cooperation agreement.
