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).
Switzerland’s financial institutions must clamp down on money laundering, the country’s financial watchdog FINMA has warned.
The US Treasury has confirmed that it will appeal a federal court judgment that insurer MetLife is not a systemically important financial institutions (Sifi) and therefore should not face tougher regulatory oversight.
Recent high yield bond market gains may dwindle due to volatility and weak global growth, according to Nicolo Carpaneda, investment director, fixed income at M&G.
Lombard International has opened its first office in New York City, identifying it as a key financial centre for new and existing clients.
European investors did themselves a disservice in February. They sold out of pretty much all asset classes when markets hit (in some cases) multi-year lows before recovering their losses in the past couple of weeks. The outflows mainly hit active funds, as ETFs saw modest net inflows.
Worldwide assets in open-ended funds were €36.9trn (£29.2trn, $41.3trn) at the end of 2015, having outperformed every quarter in 2014, according to the European Fund and Asset Management Association (Efama).
More assets will be invested in alternative investment funds than in fixed income globally by year-end if the current fund flows trend persists. Net flows into alternative funds saw double-digit growth for the second year in a row, according to a Morningstar report.
The US Internal Revenue Service (IRS) wants Singapore to waive its bank secrecy laws and push UBS into releasing financial information of a US citizen.
Accounts held by the lawyers or notaries of clients in Switzerland are now exempt from the United States’ Foreign Account Tax Compliance Act (FATCA) following the signing of an agreement by the countries’ authorities in February.
Lombard International Assurance, a provider of wealth structuring solutions for high net worth clients, has launched a new wealth planning product designed to meet the needs of US taxpayers and prospective US residents currently residing in the UK.
MetLife, the largest life insurer in the US, confirmed on Thursday that it is in talks to sell its roughly 4,000-strong adviser force MetLife Premier Client Group to Massachusetts-based MassMutual Financial Group.
