The scrapping of commission payments to financial advisers was set to strengthen consumer appetite for ETFs in the UK, writes Philippa Aylmer.

Investment management is an industry in constant expansion, with PwC recently estimating a USD35 trillion increase in the total global value of assets under management by 2025. Because of this growth, financial crime risks and regulatory scrutiny could also increase across the industry. 

EFAMA writes that it wholeheartedly supports a retail investment strategy that gives EU citizens the necessary tools and the confidence to put their savings to work by investing in capital markets.

PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, has welcomed the introduction of a new Consumer Duty by the Financial Conduct Authority (FCA) but says that the new duty must be accompanied with greater clarity over any new regulatory expectations placed on firms and a reasonable assessment of firms’ ability to discharge their obligations under the duty.

The government of Zanzibar has launched a new tax and residency programme for foreigners to live and invest in the island.

Following receipt of a provisional banking licence in 2019, Capital International Bank has now received the full Class 1(2) banking licence under the Alternative Banking Regime (ABR) from the Isle of Man’s Financial Services Authority, which means it can now take on new clients. 

PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, has welcomed a Treasury Select Committee report calling for a change in culture at the Financial Conduct Authority (FCA).

Commercial law firm Lawrence Stephens has expanded its offering to meet growing demand from clients requiring family law expertise.

PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, has welcomed proposals from the Financial Conduct Authority (FCA) that would ban claims management companies from managing Financial Services Compensation Scheme (FSCS) claims where they have a relevant connection to the claim; a practice known as 'phoenixing'.   

PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, has given a cautious welcome to the Financial Conduct Authority's proposals to enhance consumer protections in the consumer investment market; yet it warns against unintended consequences.