All articles by BBR Staff
BBR Staff
FSA imposes US$9.6 million fine for market abuse
The UKs market regulator Financial Services Authority (FSA) has imposed a fine of US$9,621,240 (approximately GBP6 million) on Rameshkumar Goenka, a Dubai-based private investor for artificially inflating the closing price of Reliance Industries securities on the London Stock Exchange (LSE).
Big Four accounting veteran launches investment advisory and consulting firm
Investment banking and Big Four accounting veteran Julie Zakarias has launched GenFi Family & Fiduciary Services, an independent, fee only, investment advisory and consulting firm based in Chicago, US.
Caledonian is acquiring Beacon Group
Caledonian Global Financial Services is acquiring the Beacon Group of companies which include Beacon Capital Management, Beacon Fund Advisors and Beacon Fund Administrators, subjected to regulatory approvals.
Merrill, Raymond James recruit top Morgan Stanley teams
Merrill Lynch has hired two Morgan Stanley advisors with US$1.6 million in annual fees and US$167 million in assets and Raymond James independent channel, Raymond James Financial Services, has recruited Morgan Stanley team with annual production of US$1.2 million and US$155 million in client assets.
RDR on time but with some concessions, says FSA
Amidst criticism and reprisal, the Financial Services Authority (FSA) is forging ahead with its resolution to implement the retail distribution review (RDR) on January 1, 2013 but it has agreed to a few concessions.
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Sapient becomes Focus Financial partner
Focus Financial Partners, a partnership of independent wealth management firms, has added a new partner to its business.
EC gives FSA green light for commission ban
The European Commission (EC) has agreed to go-ahead with a ban on the payment of commission from providers to advisers who sell its products as proposed by the Retail Distribution Review (RDR).
Crescent Wealth to target Islamic Malaysian investors
Australian Islamic wealth manager, Crescent Wealth, is ready to tap the wealthy Muslim clients in Malaysia, home to the worlds second-largest Islamic funds market with about US$5 billion under management, reports Bernama.
Bravura Solutions names global strategy, risk and planning manager
Bravura Solutions, a supplier of transfer agency and wealth management software applications, has named Jason Wilby as its global strategy, risk and planning manager.
FSA to fine Coutts over alleged mis-selling of AIG bonds
British financial-services watchdog FSA is set to fine RBS’ private banking arm Coutts about GBP6 million for alleged mis-selling of bonds linked to failed US insurer AIG.