Singapore firms could face global regulator probes
International regulators will be allowed to investigate the Singapore-based subsidiaries of multi-national advisory firms under new guidelines set out by the Monetary Authority of Singapore.
Asia
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Islamic finance key to Asia and Middle East link, says MAS
Ties between the Middle East and Asia could improve by boosting the distribution of Islamic investments, according to the deputy director of the Monetary Authority of Singapore (MAS).
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CPA Australia to offer fee-for-service financial advice
CPA Australia, one of the world’s largest accounting bodies, said it will enter the financial planning business to provide transparent, fee-for-service, advice to Australian consumers in 2016.
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IFA community called on to embrace regulation in Hong Kong
Financial advisers need to work with regulators to strengthen and simplify educational requirements for the industry, according to participants at the recent Hong Kong Expert Investor Forum.
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BNY Mellon abandons Asian platform
American asset manager, BNY Mellon, has decided to shut down its platform for high net worth individuals in Singapore and Hong Kong after just 16 months.
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ILAS sales plummet in Q1 after indemnity commission ban
The number of investment-linked assurance schemes sold in Hong Kong almost halved following January’s ban on upfront payment to financial advisers.
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Singapore adviser ring accused of pressuring rival out of market
Ten Singapore-based advisory firms have been issued a proposed infringement decision (PID) over claims they jointly pressured a fellow adviser to withdraw an offer for a 50% commission rebate on life insurance products.
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Asian managers one step ahead in social media
Asian asset managers are ahead of the game when it comes to social media, using it more consistently than their counterparts in the US, Europe, Africa and Middle East, according to recent research.
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UAE and HK investors shunning advice
Only a small minority of investors in the United Arab Emirates and Hong Kong will seek financial advice this year, despite the risk of missing out on large returns, this year’s Schroders Global Investment Trends Survey has revealed.
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FPI brand will live on after Aviva merger
Friends Provident International, a major player in the Asia and the Middle East markets, will emerge from its takeover by UK insurance giant Aviva largely unscathed, according to Chris Wei, Aviva’s Asia chairman.
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East Capital gets asset management licence in Hong Kong
East Capital has been granted a licence by Hong Kong’s chief regulator to market its products in the city.
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Mutual Alliance: Business strategies with Thailand’s MBMG Group
In signing up to Swiss professional services network Geneva Group International, MBMG has increased both its international presence and local capability, Paul Gambles, managing partner of MBMG Group, explains.