Hargreaves Lansdown abandons independent model
UK investment manager Hargreaves Lansdown has changed its financial advisory service to a restricted model and removed the minimum investment requirement.
Regions
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Zurich transfers Singapore adviser network to Nexus
Zurich Life Insurance (Singapore) has agreed to hand over all of its approximately 160 appointed financial advisers in the city state to Nexus Financial Services, part of the Middle East-based Nexus Group, in response to changes in the regulatory landscape.
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Pru tops UK list of complained about life firms
Life assurance firm Prudential is the most complained about company in the life and pensions sector, according to the latest data from the Financial Conduct Authority.
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LM action group criticises rising costs of insolvency
Financial advisers linked to the failed LM Investment Management funds, in which many expats in the Middle East and Asia lost money, have criticised the rising bills from insolvency practitioners and the slow pace of Australian regulators in dealing with the case.
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ESMA publishes final standards for MiFID II
The European Securities and Markets Authority (ESMA) has released its final technical standards for MiFID II and the Market Abuse Regulation (MAR), which set out how the new legislation will work in practice.
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ANALYSIS: Playing the contrarian post China rout
With global equities return forecasts reasonable at best, a dearth of exciting ideas may leave investors looking for contrarian plays.
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Saudi Arabia seen cutting funds held with asset managers
Saudi Arabia has reportedly withdrawn tens of billions of dollars from global asset management firms in response to the ongoing slump in oil price and the recent volatility in world equity markets.
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Guernsey Q2 bank deposits up but FUM shrinks
Guernsey banking deposits rose £6.1bn over the past year to reach £83.6bn as 112 new additions joined the island’s investment funds listing.Guernsey banking deposits rose £6.1bn over the past year to reach £83.6bn as 112 new additions joined the island’s investment funds listing.
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The country most hit by regulation, MiFID II big hot potato
The jurisdiction where regulation has seen the biggest impact over the last year is revealed by Julian Kramer, head of external distribution, Northern Europe, at BNP Paribas Investment Partners.
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Emerging market outflows accelerate
August saw record monthly outflows from emerging markets with Asia, the origin of last month’s global market correction, particularly hard hit.
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Threadneedle: Cheaper ASEAN valuations not attractive
In recent weeks, industry players have said that growth prospects in emerging regions remain strong, with investment opportunities springing up in countries such as Malaysia, Indonesia and even frontier Vietnam.
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Spanish regulator warns of scam firms stashing cash abroad
Spain’s financial regulator has issued a warning about unauthorised firms scamming clients out of their money by transferring funds to accounts based abroad.