Sesame to shut office ahead of network closure
UK-based advisory network, Sesame, is to shut down one of its offices by the end of the summer and is currently consulting staff as it prepares to close its network for wealth firms.
Regions
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Dubai Gov’t initiates crackdown on unlicensed legal firms
The Dubai Government has identified more than 60 law firms operating illegally in the jurisdiction as part of its new crackdown on unlicensed legal services providers.
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Industry professionals dismiss need to address gender imbalance
The gender imbalance in UK financial services does not need to be addressed, according to the majority of industry professionals responding to a new study.
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Guernsey funds grow by £3bn in Q1 2015
Guernsey’s fund industry has seen steady growth so far this year, with total funds under management increasing by £2.8bn to reach £222.2bn.
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Standard Life pulls out of Singapore
Standard Life is to close its insurance operation in Singapore and will stop accepting new business with immediate effect.
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Passive funds to grow in popularity across Asia Pacific region says report
Passive funds are set to be increasingly used as core holdings for client portfolios in the Asia-Pacific region, according to a report by global analytics firm Cerulli.
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MAS backs framework for resolving cross-border institutional issues
The Monetary Authority of Singapore has underlined the importance of establishing cross-border cooperation with authorities around the world to help resolve issues with financial institutions with a parent company based outside of the city state.
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Luxembourg UCITS emerging as global brand – ALFI’s Voss
A Luxembourg UCITS fund is becoming a recognised global brand, said Denise Voss, the new president of the country’s fund industry association.
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Julius Baer to pay $350m for US tax evasion
Swiss bank Julius Baer has set aside $350m to settle tax evasion allegations with US tax authorities, significantly reducing the time accountholders have to voluntarily disclose their details at a reduced penalty.
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Low-cost pension planning services launched to fill ‘advice gap’
Free and low-cost pension support services have taken off as more UK consumers look for alternatives to traditional financial advice and the governmental initiative, Pension Wise.
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Lloyds expands expat service for non-doms in UK
Lloyds Bank has announced an expansion of its London Expat Service to tap to the growing number of high net worth individuals moving into the UK.
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ETFs surge by 70% on Novia platform
UK-based platform provider Novia has seen the number of exchange-traded funds (ETFs) selected by advisers soar over the last year, but the firm’s chief executive said more needs to be done to familiarise IFAs with the products.