No Brexit shockwaves in China markets, HSBC GAM says
Brexit has not had an impact on China’s markets, and valuations are historically cheap, according HSBC Global Asset Management.
HSBC
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PEOPLE MOVES: Aviva Investors, BNY Mellon, HSBC Private Bank
Aviva Investors has named an interim replacement for its Asia Pacific chief executive. BNY Mellon has announced two senior investment services promotions in EMEA, while HSBC Private Bank has named a business head for North America.
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Over 40% in Singapore, HK, UAE still not saving for retirement
Over 40% of employees of working age in Singapore, Hong Kong and the United Arab Emirates (UAE) have not yet started saving for their retirement or have stopped after facing difficulties, new research suggests.
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FCA ‘hampered’ HSBC money laundering prosecution, says report
UK chancellor George Osborne and the Financial Conduct Authority (FCA) intervened in a US investigation that could have seen Europe’s largest lender, HSBC, prosecuted for money laundering, a new report claims.
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Serious UK tax evasion cases up 8% in a year
The number of serious tax evasion cases in the UK jumped by 8% in 2015/16, with another nearly 3,000 suspected instances referred to HM Revenue & Customs for specialist investigation, according to Pinsent Masons.
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HSBC overweight emerging market equities
A cautious US Federal Reserve, stabilisation of oil prices and accommodative monetary policies are among the factors expected to drive emerging market equities, according to HSBC Private Bank.
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HSBC Australia to compensate structured product clients
HSBC Bank in Australia has reached a deal with the industry regulator to compensate clients who received “potentially deficient advice” on retail structured products sold between January 2009 and March 2013.
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HSBC Private Bank appeals record Hong Kong fine
In a misconduct case more than a decade old, HSBC Private Bank is appealing against a record HK$605m regulatory fine (£53.7m, $77.9m, €67.8m) and the possible revocation of its license to advise on securities.
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Shanghai-London stock link ready
An agreement for the Shanghai-London Stock Connect is expected to be signed in September, according to local reports.
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SFC bans HSBC’s Chow for life
Hong Kong’s Securities and Futures Commission has banned former HSBC staff member Andrew Chow Ho-cheung from re-entering the industry for life after he was convicted for fraud and theft.
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Nutmeg embraces US expats after Fatca reporting overhaul
Investment platform Nutmeg has confirmed it will make its services available to US citizens living in the UK, despite the growing number of wealth managers exiting the market due to the increased regulatory requirements relating to the Foreign Account Tax Compliance Act (Fatca).
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Half of UK investors ‘unlikely to seek advice’
Half of United Kingdom-based investors are unlikely to seek any financial advice when making an investment, according to a new survey from HSBC.