Life companies in Singapore must do more to improve the business culture within their organisation following a number of mis-selling cases involving poor or inappropriate financial advice, a senior official from the Monetary Authority of Singapore (MAS) has said.
Agriculture is the most expensive equity sector for mutual fund investors, based on the average of annual fees charged by sector-focused funds available for sale in Hong Kong.
Allfunds Bank is to be sold to private equity firm Hellman & Friedman and Singapore’s sovereign wealth fund, GIC, in a deal that values the European mutual fund platform at €1.8bn (£1.55bn, $1.9bn).
Integrity in finance is a global concern but the ethics journey differs country to country, say key members of the Chartered Institute for Securities & Investment (CISI).
Singapore’s life insurance industry continued to grow in the fourth quarter of last year driven by rising sales in annual premium products, latest figures show.
Singapore’s Lion Global Investors has launched a retail fund that invests in disruptive industries.
High net worth clients with the Bank of Singapore can now open an account with Zurich-headquartered with Vontobel following a joint venture between the two private banks.
Switzerland’s financial regulator has fined Coutts & Co, which counts the Queen among its clients, for violating money-laundering rules and illegally profiting from transactions associated with 1Malaysia Development Bhd (1MDB).
Singapore’s 55% cap on commission payments “has still not been practically implemented” despite being due to come into force in January 2017, an industry source told International Adviser.
Old Mutual International (OMI) has promoted Ian Kloss to chief executive of Singapore, replacing Steve Hickman who has decided to pursue opportunities outside the group.
The first westerner to be charged in connection with the 1MDB scandal has been sentenced to 28 weeks in jail and fined S$128,000 (£73,352, $89,174, €84,235) by a Singapore court.
Retail investors in Singapore will receive greater protection following changes to the Securities and Futures Act (SFA).
