The Isle of Man financial regulator is taking action against anti-money laundering and terrorist financing with new guidance rules aimed at “avoiding a tick-box approach” to assessing the risk of customer involvement in such activities. The recommendations form part of the latest guidance published by the Isle of Man Financial Services Authority (IoMFSA) as part
Simon Sharrott recently appeared in an International Adviser eZine, discussing the benefits of a true DFM partnership and the need for a relationship built on trust and respect. “Following the 2013 introduction of the Retail Distribution Review (‘RDR’) in the UK, we have seen a significant shift in Independent Financial Advisors (‘IFAs’) and Advisor
France, Germany and Italy are fighting against introducing a complete ban on commission in their financial services industries despite pressure from the EU, according to Michael Lodhi, chairman of Luxembourg-based Spectrum IFA Group. Speaking at the International Adviser Future Advisory Forum Europe roundtable in London on Wednesday, Lodhi said the three countries, considered the most
South African regulator, the Financial Services Board (FSB), has confirmed that the first phase of the upcoming Retail Distribution Review (RDR) will be introduced on 1 January 2017 – six months after the original deadline. Speaking to International Adviser, Leanne Jackson, a market conduct strategy adviser at the FSB, said the regulator was planning to
The island remains a “safe haven” for financial services despite the UK’s decision to leave the European Union, according to Guernsey’s chief minister, deputy Gavin St Pier. St Pier made the statement before the island’s parliament on Tuesday. Following his speech, a proposition was successfully passed by Guernsey’s policy and resources committee, which is led
The financial services sectors of Jersey, Guernsey, and the Isle of Man should see little, if any, change following the UK’s decision to leave the European Union. The crown dependencies occupy a relatively unique political and economic position with regard to both the UK and the EU. The dependencies’ legal and trading relationship with Europe
