US in the news: Kingswood continues M&A spree
A round-up of the latest people moves and M&A deals in North America
Regions
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Amundi creates joint venture with Bank of China wealth arm
After receiving approval from the Chinese regulator
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UK government confirms introduction of pension dashboards
And collective defined contribution schemes in Queen’s Speech
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Mattioli Woods splashes out £1.6m on financial planner
Chance to buy firm run by first ever PFS president, Brian Steeples, ‘doesn’t come along every day’
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PEOPLE MOVES: LV=, Financial Conduct Authority, Nutmeg
Insurer hires former Zurich Emea head of operations as CEO, while FCA chief to lead Bank of England
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Lack of PI insurance biggest ‘struggle’ for advisers in 2020
With number of insurers in the space largely contracted
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Westpac fined A$9.15m over poor financial advice
Federal Court of Australia said former adviser breached best interest duties
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Challenges abound in China’s newly established advisory scheme
Shifting away from the model where third-party channels get more fees if they are able to sell more funds
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Retail investors must overcome institutional learning curve
UK wealth manager Kingswood believes the trend towards alternatives will continue
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DFSA decision upheld over ex-Deutsche Bank compliance head
Tribunal found she ‘recklessly misled’ the Dubai regulator about details of the bank’s wealth arm
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South African regulator withdraws licence from investment firm
For breaching its conditions by unlawfully promoting an unauthorised product
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Italian life firm acquires market competitor
From Prudential Financial to strengthen its distribution in the country