All articles by Verdict Staff
Verdict Staff
Fiduciary Trust hires new director of asset allocation
Fiduciary Trust Company International has hired Viraj Patel as new director of asset allocation within the firm’s investment platform.
UBS names new head of asset management division
Swiss banking giant UBS has selected its operations chief Ulrich Koerner to run its asset management business when its current head John Fraser retires next year.
Morgan Stanley offers brokers additional incentive to attract wealthy
Morgan Stanley, which has about 16,000 financial advisers, is giving its brokers an unusual pay incentive over the next two years to win more assets from clients held outside the firm.
Fidelity slashes fees for advisers trading on its platform
Fidelity Institutional Wealth Services is slashing fees for advisers who trade on its FundsNetwork platform with the notable exceptions.
Guernsey introduces opt-in AIFMD equivalent regime
The Guernsey Financial Services Commission (GFSC) has introduced an opt-in AIFMD equivalent regime for those fund managers which need to comply with European Unions AIFMD rules.
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Hong Kong and Malaysian bankers partner to issue sukuk
Bankers in Hong Kong and Malaysia are partnering to improve Islamic business by issuing Islamic bonds and mutual funds called sukuk to investors in both the countries.
FINRA charges fine on JP Turner & Company for restitution of unsuitable sales
The Financial Industry Regulatory Authority (FINRA) has ordered Atlanta-based broker-dealer JP Turner & Company to pay $707,559 in restitution to 84 customers for sales of unsuitable leveraged and inverse exchange-traded funds (ETFs) and for excessive mutual fund switches.
BNY Mellon Wealth Management expands advisory services team in Toronto
BNY Mellon Wealth Management has appointed Trevor Hunt as new vice president for business development for its advisory services in Toronto, renamed as i3WealthAdvisors.
IFSB to revise guidelines of overseeing Islamic financial firms
Islamic Financial Services Board (IFSB), a Malaysia-based standard-setting body for Islamic finance, is set to revise guidelines of overseeing global Islamic financial firms.
UK to close tax loopholes in hedge fund
The British government is planning to close tax loopholes that are used by hedge fund managers to avoid or defer income tax.