Singapore regulator orders BSI Bank shut down
In the “worst case of control lapses and gross misconduct seen in the Singapore financial sector” Switzerland-headquartered BSI Bank is to be shut down, with six former and current members of staff referred to the public prosecutor, the first such move by the Monetary Authority of Singapore (MAS) since 1984.
Alternatives | 24 May 16
Caught off guard, ETF investors head for safe havens
European exchange-traded fund (ETF) investors caught off-guard by the volatility at the start of the year, sheltered assets in traditional safe havens such as gold, according to analysis by Morningstar.
Old Mutual EM unit moves into West Africa with ETI deal
Old Mutual Emerging Markets (Omem) has teamed up with pan-African banking group Ecobank Transnational Incorporated (ETI) as part of a move to expand its operations into French-speaking nations such as Senegal and the Ivory Coast.
ANZ to sell $4bn life and pension units to boost capital
ANZ Banking Group is looking to sell its life insurance and pension product unit, valued at up to $4bn (£2.76bn, €3.6bn), say media reports.
Nikko AM launches new Japan equity Ucits fund
Nikko Asset Management has launched a Luxembourg-domiciled Japan Focus Equity Ucits fund, with further Ucits funds planned for later this year.