Competitive trust laws on commission agenda
Trusts in England and Wales looks set to be modernised after the Law Commission pledged to make recommendations to amend the law.
Regions
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UAE considers expat pension schemes
Pension schemes could soon be available for expat workers in the UAE, following a study that recommends replacing traditional end-of-service gratuity schemes with a savings investment fund.
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FCA shuts down £1.2m Cyprus investment scam
An unregulated Cyprus-based investment scheme has been shut down by the High Court following an application by the UK’s Financial Conduct Authority.
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OMGI sold in £600m private equity deal
A private equity firm is set to take over Old Mutual Global Investors (OMGI) next year, ending months of speculation on the future of the asset manager.
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Ready or not, here Mifid comes
Mifid II comes into effect on 3 January, and while many advisers remain woefully unprepared, significant benefits will make the sleepless nights worthwhile.
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Expat football mogul case shows limits of HMRC power
A football entrepreneur and Dubai resident, who rejected HM Revenue & Customs demands for information, has won a court case against the UK taxman.
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Convoy goes after ex-directors for stealing HK$4bn
Troubled Hong Kong financial advice firm Convoy Global is suing 28 people for more than HK$4bn, including former chairman Quincy Wong Lee-Man and former director Roy Cho Kwai-chee who is believed to have fled the country.
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How 2017 was a record breaker for investment trusts
Secondary fundraising within investment trusts hit an all-time high of £6bn in 2017, up £1bn on last year, according to research from the Association of Investment Companies.
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Advisers at 5-year low among Aussie rich
Nervous Australian millionaires are increasingly turning their backs on financial advisers and hanging onto excess cash, according to a new study.
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Appleby sues Guardian and the BBC over Paradise Papers
The law firm at the heart of the Paradise Papers hack is seeking damages and has demanded that UK newspaper the Guardian and the BBC hand over documents.
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Drop in pension auto-enrolment age worth £50,000
The UK’s Department for Work and Pensions has confirmed that the auto-enrolment age will be lowered to 18-years-old, a move that could see some savers £50,000 better off after 40 years.
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Fund selectors talk up ESG but slow to take action
Almost 60% of fund selectors believe environmental, social, and governance (ESG) strategies will become more integrated into portfolios, though most currently have low or no weighting towards these strategies, according to a survey.