final fatca draft revealed at last
The US has at last issued its final tranche of proposed regulations for the implementation of FATCA today, more than a month later than expected.
Regulation
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fatca backtrack unlikely
As FATCA-watchers around the world keep checking their smartphones for final guidance on the incoming US legislation, some experts are doubtful the US Treasury will stick to its recently-stated vow to try and make things easier for foreign financial institutions.
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increase in outsourcing
Advisers who plan to outsource more of their investment-based advice post-RDR need to consider VAT implications before going forward, according to Assetfirst.
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regulator casts net wider than etfs
The European Securities and Markets Authority has published its long-awaited consultation paper on ETFs, extending proposals to all Ucits vehicles engaging in ETF-like practices.
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us seen bowing to pressure on fatca
Bowing to pressure from foreign governments, financial institutions and expatriate Americans around the world, the US is seen to be planning to make significant changes to its unpopular FATCA reporting requirements, which are due to take effect in 2013.
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Saunders – no such thing as hidden
The IMA’s chief executive, Richard Saunders, has come out against accusations of hidden charges in the funds industry, saying they are a complete myth.
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ima launches deferred managed sector
The IMA has launched its delayed Mixed Investment 0-35% Shares Sector after managing to list enough funds to make it viable.
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discretionaries alert to retail opportunities
Discretionaries willingness to establish unitised portfolios has helped push the amount of IFAs outsourcing some or all of their investment process up to 42%, according to Defaqto.
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eea bites back at fsa on death bonds
EEA Fund Management has called on the FSA to retract its statement naming traded life policy investments (TLPIs) “toxic”, and has asked the watchdog to clarify which funds in the sector it believes to be “Ponzi schemes”.
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IMA calls for clearer guidelines
The IMA has called the FSA’s guidelines on legacy commission post-RDR “unclear and incomplete” and warned they could result in increased costs for investors.
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regulators must act on etfs this year
Regulators are under pressure to make their stance on ETFs clear this year as in 2011 they spent lots of time just “talking about it”, says Michael John Lytle managing director at ETF provider Source.
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rdr will see shrinking industry
The approach of RDR will see the funds industry continue to shrink in 2012, with big-name managers retiring and fund mergers and closures more common, according to Thames River Multi-Capital.
