insurers and asset managers face costly
European insurance companies and asset management firms face a costly and arduous task in satisfying the requirements of the Solvency II regulations set to be implemented on 1 January 2014.
News
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convoys 21m acquisition of ipp falls through
A deal that would have seen one of Asias largest advisory companies, Hong Kong-based Convoy Financial Services, become even larger, has fallen through, after it failed to be completed in the time frame stipulated in the sale agreement.
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dax etfs lead europes redemptions
European bond and equity funds saw outflows hit 20- and 38- week highs respectively, as the political pendulum swung against austerity in France and the Netherlands last week.
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bank indonesia applies brakes to dbs plan
Bank Indonesia, Indonesias central bank, will not approve a proposed acquisition by Singapores DBS Group Holdings of Bank Danamon Indonesia until it has established new foreign ownership rules for banks in the country and a reciprocity arrangement with Singapore, according to reports.
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george run investec global energy strategies
Bradley George is to take on Investec’s global energy strategies on an interim basis when the current managers leave on 1 July.
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iom pensions provider bw oakfield buys rival
BW Oakfield Group, an Isle of Man pensions and QROPS provider, has acquired an IoM rival, Momentum Pensions, and a controlling interest in Momentums Maltese operation.
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ima calls for us Treasury to delay fatca
The Investment Management Association has written to the US Treasury asking for a delay to the implementation of its FATCA regualtions.
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world first in depth study of qrops
Rex Cowley, principal of New Dawn Consultancy & Research is predicting a new playing field for QROPS providers as he publishes the first definitive study on this evolving area of the international pensions market.
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most ifas will not offer self directed service
More than two-thirds of advisers do not expect to offer a self-directed service to clients after the Retail Distribution Review takes effect at the start of 2013, according to a poll of 614 financial intermediaries by one of the largest UK investment platforms.
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us financial planners group says make do better
Building on the existing regulatory infrastructure for overseeing Americas financial advisers would be better than introducing new legislation of the kind introduced this week by House Finance Services Committee chairman Spencer Bachus and Rep Carolyn McCarthy, a group claiming to represent nearly 75,000 US financial planners said.
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us may join uk australia and singapore
US lawmakers have introduced new legislation aimed at boosting the standards of advice on offer from Americas advisory industry, following in the footsteps of the UK, Australia and Singapore.
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natwest intl uk europe for structured bond
NatWest International Personal Banking has launched a four and a half year structured deposit with 100% capital protection if held until maturity.