Ex-Globaleye managing director Scott Balsdon joins Holborn
Scott Balsdon has joined Holborn Assets in Dubai as a non-executive director having left his role as managing director of Globaleye in December 2016 after nine years with the firm.
Dubai
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UAE to push ahead with major life industry overhaul
The main regulator of life companies in the UAE has confirmed it will go ahead with a ban on indemnity commissions, limits to fees and charges on industry products and tighter rules on financial advisers.
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Expat cities among the most expensive for rent
Hong Kong, Dubai and Singapore are some of the most expensive cities in the world when it comes to how much people have to earn to pay rent but they do not top the list, research from UK property selling start-up Nested has found.
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Holborn Assets ordered to immediately cease pension transfers
The UK Financial Conduct Authority has ordered Holborn Assets Ltd to immediately cease all pension transfer business, particularly that introduced by overseas advisers.
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Sarah Lord to leave Killik & Co
Sarah Lord, one of the most highly qualified female financial planners in the UK, is to leave Killik Wealth Planning at the end of March to pursue other opportunities within the industry, the company confirmed to International Adviser.
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S Africa to end ‘too generous’ overseas worker tax break
South Africa is to draft legislation overhauling its residence-based tax rules so that South Africans working in countries with no income tax, such as the UAE, will be liable to pay tax in their home country.
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Dubai’s DFSA signs cooperation with ESMA
The Dubai Financial Services Authority (DFSA) and the European Securities and Markets Authority (ESMA) have signed a new information sharing and cooperation agreement.
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Soaring expat demand drives growth and new hires at ITA
Rising demand from local and expat clients in Dubai coupled with improved IT systems are the driving force behind Investors Trust Assurance’s “phenomenal growth” in the region, according to Philip Story, the life company’s head of distribution for EMEA.
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Asia banks take dominant position in Dubai’s DIFC
Chinese, Japanese and Indian banks now occupy the top slots in the Dubai International Financial Centre (DIFC) in terms of total assets, the chairman of the centre’s regulator has told a forum in Hong Kong.
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Reading the regulatory writing on the UAE wall
Regulatory changes in the United Arab Emirates pose a challenge to existing business models for IFAs in the region but Sean Kelleher at Mondial is one step ahead, and after years of hard work in preparing his business for the new requirements, he is ready to reap the rewards.
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DFSA rules out ban on commission, Insurance Authority update
The Dubai Financial Services Authority (DFSA) has no proposals to ban commission, according to chief executive Ian Johnston.
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Investors Trust Assurance moves to a bigger office in DIFC
Investors Trust Assurance, an offshore insurance and investment company, has moved to a bigger office within the Dubai International Financial Centre (DIFC).