All articles by Verdict Staff
Verdict Staff
Samsung Securities shuts operations outside Korea – Reuters
South Korean brokerage Samsung Securities Co Ltd, which expanded quickly across Asia in the past two years, is shutting operations outside its home market, reported Reuters quoting a undisclosed source at the company.
Vertical integration among wealth management augurs well for consumers, study
Increased vertical integration among wealth management firms is more likely to be pro-competitive and could actually lead to reduction price of products, according to a new study by the University of Melbourne.
EU watchdog proposes new rules on ETFs
The European Union’s market watchdog, ESMA, is proposing new rules for Exchange Traded Funds (ETFs) according to a newly released position paper. The new rules focus on counterparty risk involved with ETFs.
IBRC to wind down Wealth Management Division
The Irish Bank Resolution Corporation (IBRC), formerly known as Anglo Irish Bank, has decided to orderly wind down its Wealth Management Division.
Pershing selects new technology to service wealth management administration platform
Pershing Limited (UK), a BNY Mellon company, has licensed and implemented Financial Simplicitys Enterprise Edition technology as part of its new model custodian solution for advisers and wealth managers in the UK.
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Switzerland, Ireland ink revised double taxation agreement
Switzerland and Ireland have signed a protocol to amend the double taxation agreement (DTA) in the area of taxes on income and capital.
Majority of advisors intend to use just one platform post-RDR, survey
A survey conducted by Zurich in November 2011, of over 800 advisors have revealed that nearly half of advisors intend to use just one platform post-Retail Distribution Review (RDR), inspite of having access to more than one platform.
Switzerland may sign disclosure deal with US in 2012
Switzerland, after having solved a dispute with US over untaxed US money stashed in secret Swiss bank accounts, hopes for a disclosure deal with US in 2012, said Switzerland Finance Minister Eveline Widmer-Schlumpf at the World Economic Forum in Davos.
Tax dispute forces Wegelin & Co to sell non-US business
Buckling under the pressure of an increasingly acrimonious US tax probe, Wegelin & Co has agreed to sell most of its non-US business to fellow Swiss bank Raiffeisen Group for an undisclosed sum.
Hana Financial Group acquires stake in Korea Exchange Bank
South Korea-based Hana Financial Group Inc. has acquired 51% stake in Korea Exchange Bank.