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Industry reacts to Middle East clampdown on commissions

By Mark Battersby, 1 Dec 16

Leading figures from the financial services industry in the Middle East give their views on the proposed cap on commission and the prospect of commission disclosure coming to the region.

We talked to three heads of some of the biggest financial adviser firms, namely Tim Searle of Globaleye, Sam Instone of AES International and Sean Kelleher, of Mondial.

We also canvassed one of the top lawyers in the region, Muneer Khan, partner and head of Middle East for Simmons & Simmons, and two big names from the international life companies based there, Friends Provident International’s Philip Cernik and Old Mutual International’s Brendan Dolan.

With predictions including a reduction in adviser numbers among those “hooked on the treadmill of commission”, our Vox Pop at last week’s International Adviser Future Advisory Forum in Dubai was a timely opportunity to canvass early reactions to game-changing regulations.  

Click above to hear what they had to say.  

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.