All articles by Verdict Staff
Verdict Staff
FSA confirms £1.3m fines for ex-UBS pair
The UK Financial Services Authority (FSA) has handed down its final notice to two former UBS employees found guilty of conducting a series of unauthorised trades on customer accounts between 2006 and 2007. Sachin Karpe and Laila Karan will have to pay £1.25m ($1.95m) and £75,000 respectively and have been banned from performing any regulated financial services role The final notice comes after their attempt to overturn the FSAs initial ruling was dismissed by the UKs Upper Tribunal in May.
SEI runs pilot program of wealth platform for advisors
US-based wealth management platform provider SEI has said that it is currently running a pilot program to improve its administrative and operational platform for advisors.
TD Waterhouse inks deal with PriceMetrix
Canada-based TD Waterhouse Private Investment Advice has confirmed a multi-year agreement with PriceMetrix , a practice intelligence solutions company that helps wealth management firms and their advisors enhance productivity and increase firm profitability.
Overwhelming majority of UK investors concerned for year ahead
According to new research from the Schroders European Wealth Index almost nine in ten UK investors (88%) expect various financial issues to cause them concern over the next year. Their biggest worry is the impact of inflation (33%) with more than one in four investors (27%) also concerned about how they will cope with the prospect of rising taxes and austerity measures.
AFH Financial Group acquires Specialist Solutions
In a deal worth up to GBP725,000, UK-based discretionary wealth management firm, AFH Financial has acquired Cheltenham-based IFA firm Specialist Solutions that was fined for Ucis mis-selling.
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TD Waterhouse selects PriceMetrix for wealth management technology
TD Waterhouse Private Investment Advice, a division of TD Waterhouse Canada, has signed a multi-year agreement with PriceMetrix, a practice intelligence solutions company that helps wealth management firms and their advisors enhance productivity and increase firm profitability.
EU to introduce cross border tax identification number
The EU is to create a European cross border tax identification number to tackle tax fraud and evasion, a European Commission (EC) report suggested The European commissioner for taxation Algirdas emeta said that to enhance transparency and fight tax evasion, tax payers operating across the various member nations could be given a unique identification number Tax evasion is not a problem that any member state can tackle alone; If we play as a team, with a common strategy, we can defeat the fraudsters and evaders, and reclaim vast sums of money that are legitimately due, she said
Hana Financial Group aims US market
After having acquired 51% stake in Korea Exchange Bank (KEB), South Korea-based Hana Financial is eyeing to expand in the US markets, where they can provide financial services for immigrants with Asian backgrounds.
Achaean Financial enters into strategic partnership with Envestnet
Achaean Financial, a US-based financial services firm, has formed a strategic partnership with Envestnet, a provider of technology-enabled wealth management solutions for investment advisors.
People’s United Bank selects Smartleaf’s technology for wealth management business
US-based People’s United Bank has chosen Smartleaf’s overlay technology for its wealth management business.