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Vexed UAE firms act over Insurance Authority rule delays
As the Abu Dhabi headquartered Insurance Authority drags its heals on finalising sector reform, many businesses are anticipating what the incoming regulations will mean for them and pressing ahead with new strategies.
US to shut $11bn offshore voluntary disclosure programme
The disclosure scheme that allows US taxpayers hiding offshore accounts to come clean and face more lenient penalties will close in September 2018, the Internal Revenue Service (IRS) announced this week.
PEOPLE MOVES: S Africa taxman, Fidelity Int’l, Charles Stanley
Allegations of money laundering and corruption have brought down the chief of the South Africa Revenue Services’ business and individual tax division. Senior changes at Fidelity International put a new face in charge of its continental European business, while Charles Stanley is targeting improved intermediary relationships with two hires.
News 16 Mar 18
OMI keeps distribution deal as Old Mutual exits LatAm
South Africa-headquartered Old Mutual is selling all of its businesses in Latin America to a Singapore-based firm but has confirmed that Old Mutual International will continue its long-standing relationship with regional distributor Aiva.
Features 16 Mar 18
Brexit threat to Gibraltar may trigger sector exodus to Spain
Brexit poses a significant threat to financial services in Gibraltar but re-domiciling to the Spanish side of the border could spare the sector.
Analysis 15 Mar 18
Is it the end for the traditional life insurance model?
Phoenix Group’s acquisition of Standard Life’s insurance arm is “testament to the current re-shaping of the UK life insurance industry” and the “break-up of traditional models”, the group’s chairman said.
News 15 Mar 18
Old Mutual Wealth ready to list as profit soars 40%
Old Mutual Wealth is now ready to list as Quilter, with its annual results showing the company’s pre-tax profits rose by 40% in 2017, driven by “unusually high” performance fees.