Mifid II, Solvency II most concerning for asset managers
Mifid II and Solvency II are the regulations asset manager think are most important this year, with data collection, enrichment and delivery identified as the most challenging areas.
Regulation
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Lionel Messi sentenced to 21 months for tax fraud
Argentinean footballer Lionel Messi has been sentenced to 21 months in prison for tax fraud by a Spanish court after being found guilty of defrauding Spain of €4.1m (£3.5m, €4.6m) between 2007 and 2009.
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IA appoints independent fund fee advisory board
The Investment Association (IA) announced Monday it had assembled an independent advisory board of established industry figures to create a standardised disclosure framework for investment costs.
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AJ Bell lays the odds for UK post-Brexit reforms
With UK chancellor George Osborne having abandoned his plans to generate a budget surplus by 2020 following Brexit, AJ Bell senior analyst Tom Selby gives his odds on whether HM Treasury will adopt any of the six radical money saving options available to them and if the Pensions Bill will be delayed.
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UK investment scams cost victims £20,000
Victim of investment scams lose an average of £20,000 ($26,780, €24,115), according to UK consumer champion Citizens Advice.
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Columbia Threadneedle to bolster Luxemborg ops ahead of Brexit
Columbia Threadneedle Investments is looking to beef up its presence in Luxembourg prior to the UK leaving the European Union.
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Don’t underestimate the size of the passporting problem
Hogan Lovells says the solution to the post-Brexit passporting problem is not as simple as setting up a brass plaque company inside the EU.
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The technical implications of the UK Brexit vote
Members of Portfolio Adviser’s sister publication, International Adviser’s Tax & Technical Panel give their views on the outcome of Britain’s decision to leave the European Union.
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Why the GDPR affects advisers and their clients – no matter where they are based
The General Data Protection Regulation (GDPR) is the biggest overhaul of European data protection and privacy law for more than 20 years. It came into force on 25 May 2018 and is designed to harmonise data privacy laws across Europe, improve data security and reinforce the obligations of organisations that hold and store data.
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Three areas wealth managers should take action in- BCG
Wealth managers profits have come under attack from rising costs, increasingly demanding clients and ever more regulation. But, argues the Boston Consulting Group, there are a few key ways in which to weatherproof one’s business.
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Smaller pension pots hardest hit under pension freedoms
People in the UK with smaller pension pots could lose as much as 10% of their retirement savings paying fees under the pensions freedoms, while others are failing to shop around for the best deals.
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FCA bans two advisers over “lack of integrity”
A British financial adviser and his boss have been banned from working in the financial services industry for lying to clients about where they invested pension pots totalling nearly £24m ($34.9m, €30.7m).
