Australian expats living in the US may have to pay taxes on their superannuation pension accounts, following changes to the Internal Revenue Service’s (IRS) reporting requirements for such schemes.
Merrill Lynch, one of the ‘big four’ investment banks in the US, will no longer work with US citizens living abroad following the closure of all expat accounts earlier this month, a UK-based IFA firm has confirmed.
Rathbones asset allocation strategist Edward Smith has argued that investors should “pay close attention to the insidious creep of protectionism, as US politicians and elsewhere look to harness the disenfranchised.”
The market has set corporate America a low hurdle in the upcoming Q3 earnings season according to NN Investment Partners.
Bouncing cheques will remain a criminal offence in the UAE despite indications that the region’s new bankruptcy law would remove the threat of jail, a senior Emirati lawyer has said.
Led by China, Asia created one billionaire nearly every three days and accounted for over half of new billionaires in 2015 despite global billionaire wealth declining last year by $300bn to $5.1trn (£4.2trn, €4.6trn), according to a joint UBS Group and PwC report.
BlackRock, the world’s biggest asset manager, is cutting prices across its core ETFs ahead of a new US rule that will require financial advisers to put clients’ best interests ahead of their own profits.
The US Securities and Exchange Commission (SEC) has charged a former broker with running a fraudulent mutual fund scheme.
If Donald Trump gets elected to the US Presidency, this could turn out to be a blessing for the US economy, according to a US equity fund manager.
US presidential candidate Hillary Clinton has proposed raising inheritance tax paid by ultra-rich Americans to 65% on property valued at more than $500m (£385m, €445m), in a bid to appeal to the supporters of her former Democratic rival, Bernie Sanders.
Recent moves in the US suggest that the country is bringing in its own version of the retail distribution review “through the backdoor”, according to Capgemini Consulting’s Rod Bryson.
Fund selectors would be wise to not use past performance as a metric in their fund selection process, according to three American scholars. Moreover, funds that have outperformed their benchmark over the past three years tend to underperform funds with a mediocre or poor performance record over the following three year-period.
