News
Insurer AMP faces two class action lawsuits
After a bruising appearance at Australia’s Royal Commission, AMP has been served with two class action proceedings, while the firm’s interim chief executive offers a mea culpa and shareholders reject pay proposals.
Former boss of Chinese insurer Anbang jailed for 18 years
The ex-chief executive of China’s beleaguered Anbang Insurance Group has been sentenced to 18 years in jail for corruption and fraud and will have assets worth CNY10.5bn (£1.2bn, $1.6bn, €1.4bn) confiscated by the state.
Best Practice | news 10 May 18
Australia moves to stop erosion of superannuation funds
The Australian Government has unveiled plans to ban exit fees and cap administration and investment fees to protect super accounts with low balances from excessive erosion.
Lindsell Train staff pay averages £1m
Lindsell Train fee revenue has jumped, according to its latest financial statements, with performance fees almost tripling on the back of strong performance and inflows.
Scottish Widows ‘surprised’ by Standard Life Aberdeen challenge
Scottish Widows says Standard Life Aberdeen is a clear and material competitor and it, therefore, has the legal right to terminate its investment management agreement with the firm.