Responding, it said, to pressure from foreign financial institutions, the US today unveiled a less onerous version than it has previously of regulations covering the implementation of FATCA, its controversial new law aimed at cracking down on offshore tax evasion.
Affluent Britons are increasingly choosing to manage their own finances rather than using the services of financial advisers to do so, a new survey, conducted by YouGov on behalf of AT Kearney, has found.
Business Class Group (BCG), the owner of several Asia-based financial services companies, including Platinum Financial Services in Bangkok, has added another brokerage to its ranks.
Scottish Widows, part of the Lloyds Banking Group, is to withdraw from the offshore bond market, closing Clerical Medical International as part of the process.
Elite Capital Solutions, which as recently as November described itself in its marketing as having offices in Dubai, Hong Kong, Singapore and Malaysia, has come apart from the Dubai entity that had been its head office, and is now basing itself in Hong Kong, where it is seeking to expand.
London-based asset management firm, Ecofin Limited, has launched a subsidiary company in Australia.
Merrill Lynch Wealth Management has named five advisers to look after clients in the Middle East, out of its offices in Dubai and Beirut.
A court in Hong Kong has overturned a brokers conviction for market manipulation.
Hong Kong has moved closer to implementing a scheme that would compensate holders of insurance policies in the event that their insurer were to become insolvent.
Globaleye, the Dubai-headquartered advisory firm, has opened a new office in the Chinese megacity of Shanghai, and is closing its two-year-old Brazil operation.
The Hong Kong Monetary Authority (HKMA) has published a revised version of its rules covering the sale of investment products, which changes the way private banks and so-called authorised institutions acting in a similar capacity are bound to deal with their clients.
An overhaul of the mandatory provident fund scheme in Hong Kong, which will allow employees to choose which MPF provider they use, is being eagerly anticipated by advisers.
