SLI announces new team in Singapore
Standard Life Investments (SLI), the Edinburgh-based asset manager, has announced a new real estate team in Singapore.
Singapore
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Singapore shuts down second Swiss bank, fines DBS and UBS
The Monetary Authority of Singapore (MAS) has ordered that Falcon Private Bank in Singapore be shut down for serious failures in anti-money laundering (AML) controls and improper conduct by senior management at the Singapore branch, as well as the head office in Switzerland.
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Two ex-BSI bankers in Singapore charged in 1MDB probe
Two former bankers for Switzerland’s BSI Bank have been charged by the Singapore police as part of their investigation into 1Malaysia Development Bhd (1MDB).
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Growth in Singapore’s asset management sector slows to 9%
Fund managers in Singapore saw a 9% increase in assets under management to S$2.6trn ($1.90 trn, £1.4trn, €1.6trn) in 2015, much slower than the 30% recorded the year before.
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Canada’s Sun Life to expand into Singapore and Thailand
The Hong Kong arm of Canada’s Sun Life Financial plans to expand into Singapore and Thailand in a bid to widen the insurer’s presence in Asia, Reuters has reported.
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Singapore reports low sales of commission-free life policies
The number of people buying life insurance policies without commissions or financial advice in Singapore has been low since the product’s launch in April last year.
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Indonesia assures expats using amnesty over tax evasion threat
Indonesia’s government has reassured participants of its tax amnesty programme that they will not be prosecuted for tax evasion after it emerged last week that private banks in Singapore are sharing with police the details of wealthy clients using the programme.
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Is 50/50 the right management fee split?
Asset managers and distributors in Asia used to split the annual management charge, but over the last couple years the distribution side has been getting more than half. What is a fair split?
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Singapore signs fintech agreement with Switzerland
The Monetary Authority of Singapore (Mas) and the Swiss Financial Market Supervisory Authority (Finma) signed a cooperation agreement on Monday to foster greater cooperation on fintech.
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More protection to be offered to wealthy Singapore investors
Wealthy investors in Singapore may soon be able to choose to be covered by the same protections as retail investors under proposals from the Monetary Authority of Singapore (Mas).
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PEOPLE MOVES: Old Mutual, Eastspring, BNP Paribas
Changes abound in Singapore with Old Mutual Global Investors creating a new managing director role, Eastspring Investments naming a new chief executive, and HSBC Bank appointing a head of retail banking and wealth management.
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Around 70% of Singaporeans are underinsured, says Prudential
Around seven in 10 Singaporeans have not increased their life insurance cover in line with their rising income levels, leaving them at risk of being under-insured in the event of a crises, insurer Prudential has warned.