UK’s budget underlines economic policy constraints
UK’s outlook contrasts with recent German fiscal ambition, and leaves the UK limited room to respond to a rapidly changing global outlook
Legal
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Deutsche Bank-owned asset manager DWS fined $27 million for 'greenwashing'
Deutsche Bank-owned DWS had publicly claimed that it was a "leader" in environmental, social and governance (ESG) investing, and that ESG was an integral part of its DNA.
FINMA adapts its organisation to meet future challenges
The Swiss Financial Market Supervisory Authority FINMA has announced an adjustment to its organisation. It is creating a new cross-divisional function for “Integrated Risk Expertise” and merging the “Markets” and “Asset Manag
Travers Smith advises Brooks Macdonald on its move from AIM the Main Market
The company's broad and diverse product range means that clients have solutions made just for them, allowing Brooks Macdonald to support clients throughout their entire lives as needs and circumstances change.
Zurich property boutique obtains Finma licence
Seraina Invest has picked up its Finma licence as it sets its sights on launching new real estate funds.
BlackRock drops sustainability-related terms from 56 funds ahead of ESMA deadline
Fellow US manager Federated Hermes also adjusts names, exclusions for ESG, SDG and biodiversity funds.
Three ways to improve current sentiment for AIM
Consequently, UK stocks listed on AIM will now have a 20% inheritance tax applied to them, as part of measures aimed at raising up to £2bn.
FCA bans and fines Crispin Odey £1.8m
The founder of Odey Asset Management has been fined and banned for showing ‘reckless disregard’ for governance.
Swiss Banks Caught in Crossfire as Spain Intensifies Tax Scrutiny
Relocating to Spain can be highly lucrative for professionals due to tax advantages.
Former B. Riley wealth platform head launches RIA
Thomas Kowalczyk has stood up Steadtrust LLC, a Dallas-area RIA.
ASIC bans former director of Suetonius Wealth Management
Additionally, ASIC determined that Mr Surtenich lacked the necessary judgement and competence to be a financial adviser.
UBS Receives Approval for Restructuring in China
The China Securities Regulatory Commission has approved the sale of a 36.01 percent stake to Beijing State-owned Assets Management.