Canada vetoes best interest duty for financial ‘advisors’
Canada has abandoned plans to introduce regulation that would require people giving financial and investment advice to act in their client’s ‘best interest’.
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Millionaire investors short-termism due to ‘information overload’
More than two-thirds of high net worth investors say they suffer from ‘information overload’ and admit being easily distracted by short-term developments in politics and the economy.
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Indonesia grants taxman new powers in emergency action
The president of Indonesia has signed emergency regulation giving the tax authority access to account information held by financial institutions months after $333bn in assets was disclosed under the country’s hugely successful amnesty programme.
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Adviser in court for investing £1.2m in Polish property fund
A former financial adviser in the UK has denied forging clients’ signatures so he could invest £1.26m (€1.47m, $1.62m) of their money into a high-risk Polish property fund for his own benefit.
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Hawksmoor director dies in walking accident
John Wynne, head of finance at Hawksmoor Investment Management, died on Sunday in a walking accident in Snowdonia.
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Standard Life sets sight on Dublin for EU hub
Edinburgh-headquartered Standard Life is expected to choose Dublin as the centre for its European Union operations after the UK government completes the two years of Brexit negotiations.
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Best and worst funds in Asia in April 2017
JP Morgan, Schroders, UBS, Castlestone, Kotak, SLI had funds among the best and the worst performers over the last three years. Our sister publication Fund Selector Asia (FSA) takes a look at the data on funds available in Hong Kong and Singapore.
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Labour unveils new top rate of 50% on earnings over £123k
Britain’s opposition Labour Party has set out plans to increase income tax to 45% for those earning over £80,000 (€94,265, $103,242) and introduce a new 50% rate on earnings over £123,000.
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Ex-deVere regional manager joins Carrick Wealth: PEOPLE MOVES
A former deVere regional manager for Africa is to join Carrick Wealth as group business development manager. Generali has appointed a country manager for France, with StanChart Private Bank adding a director of its wealth intermediaries team.
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40% of entrepreneurs prefer lifetime gifting in estate planning
Two fifths of business owners and entrepreneurs are pursuing a “giving while living” approach when it comes to estate planning, according to a new report by RBC Wealth Management, creating the “biggest opportunity” for financial advisers.
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DeVere appeals South Africa court ruling on ex-manager payoff
DeVere Investments has appealed a court ruling that it must pay ZAR3.7m (£217,380, $280,535, €256,142) in outstanding commission, notice paid and an unpaid portion of a bonus to an area manager it fired.
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Risks of using ETFs on Irish regulator’s radar
The risks of using ETFs and whether they are fully understood by international regulators are under the spotlight in a discussion paper released by the Central Bank of Ireland.