Australia
Aussie and IoM schemes boost UK Rops list as transfers drop
HM Revenue & Customs’ list of recognised overseas pension schemes (Rops) has grown by 10% on the back of more schemes from Australia and the Isle of Man being added. This rise, however, follows official figures showing that the number of Qrops transfers hit its lowest level for six years last year.
Aussie research firm unveils real estate-focused IFA platform
SQM Research has created an investment analysis platform for financial advisers that offers access to residential real estate data alongside a standard mutual funds research service.
Aussie regulator seeks wind up order for land banking scheme
As part of its ongoing investigation into land banking schemes, presumably on the back of the LMIM scandal, the Australian financial regulator has started legal action to wind up a scheme in which at least 82 people invested around A$800,000 (£488,212, $640,123, €546,859).
Abu Dhabi and Australia sign cooperation deal for fintech push
The Abu Dhabi Global Market’s Financial Services Regulatory Authority (FRSA) has signed a cooperation agreement on financial innovation with the Australian Securities and Investments Commission (Asic).
Commonwealth Bank positions life business for sale
The Commonwealth Bank of Australia (CBA) is reportedly looking to sell its life insurance business but the move in not linked to recent regulatory changes requiring the country’s biggest banks to hold billions in extra capital.