Aviva launches two multi-strategy products
In Singapore, Aviva Investors has launched two sub-funds of its Luxembourg-domiciled multi-asset products.
Singapore
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Manulife Singapore appoints bancassurance and legal chiefs
Global life insurer Manulife has strengthened its Singapore team with two hires to spearhead its bancassurance operations and its legal and compliance department.
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Singapore reviews onus of IFA conduct over insurance sales
Singapore’s financial regulator is examining whether advisers or life companies are responsible for the training, competency and conduct of intermediaries selling insurance.
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Market volatility weighs on DBS’s wealth management division
Net fee and commission income from DBS Group Holdings’ wealth management division fell by 4% during the third quarter, compared with the same quarter last year.
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HSBC GAM India boss transfers to South East Asia role
The chief executive of the India arm of HSBC Global Asset Management has relocated within the business to spearhead the company’s South East Asia division.
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FPI exits all markets bar Asia, ME and South Africa
Friends Provident International is abandoning all of its global operations, excluding Hong Kong, Singapore, Dubai, and the ‘permitted jurisdictions’ of South Africa and Qatar.
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Zurich transfers Singapore adviser network to Nexus
Zurich Life Insurance (Singapore) has agreed to hand over all of its approximately 160 appointed financial advisers in the city state to Nexus Financial Services, part of the Middle East-based Nexus Group, in response to changes in the regulatory landscape.
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Singapore U-turns on fund passport regime due to unfair tax rule
The Monetary Authority of Singapore said it backed out of a fund passport initiative because the legislation failed to address inequalities in the tax treatment of local and foreign investors.
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Investors can opt-in to Singapore safeguards under new rules
Wealthy Singapore investors will be able to choose their own level of regulatory protection when new rules come into force next year.
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Mercer fined by MAS for unlicensed selling of life policies
The Singapore-based arm of Mercer has been fined by the Monetary Authority of Singapore for allowing unlicensed representatives to arrange contracts for life insurance policies.
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MAS proposes tougher market enforcement regime
The Monetary Authority of Singapore has proposed new rules designed to toughen up its enforcement regime in order to deter market misconduct.
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Lion Global and OCBC Bank unveil Asia private equity fund
Singapore-based fund house Lion Global Investors has worked alongside OCBC Bank to build a private equity fund which invests in small and medium-sized companies in Singapore, Malaysia, Indonesia and China.