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Offshore centres facing clampdown

Offshore financial centres are facing the prospect of sanctions unless they comply with minimum standards for regulation, transparency and co-operation with other jurisdictions according to the Financial Times.

The move is being spearheaded by the Financial Stability Forum, a body set up this year, bringing together finance ministries, central banks and financial supervisors.

The forum is currently working on a set of standards covering areas such as quality of regulation and exchange of information.

Those offshore havens falling foul of the criteria set by the forum face a number of penalties ranging from naming and shaming to financial sanctions.


Royal & SunAlliance International adds three funds to its mirror range

Royal & SunAlliance International Financial Services has added three new funds to its range of offshore mirror funds.The move sees Edinburgh Fund Managers added to RSAIFS range of fund managers with the addition of the Edinburgh Safety First Fund in both sterling and US dollar denominations.Both these funds provide investors with protection against bear markets […]

AITC launches IFA Marketing Club

The AITC has developed a programme for IFAs to help them capitalise on potential business opportunities thrown up from its new &#34its&#34 marketing campaign launched later this year.IFAs wanting to participate in the &#34its Marketing Club&#34 programme will receive regular information from the AITC plus a newsletter and access to an extranet internet site.Advisers who […]

Paymaster wins contract to administer Seeboard&#39s outsourced pension scheme

Hogg Robinson subsidiary Paymaster has won the contract to administer the pension scheme of regional utilities supplier Seeboard.The southern based electrical and gas company has awarded Paymaster a five year outsourcing contract to administer its final salary scheme for its current members and pensioners.The scheme has 2,700 active members, 1,800 deferred members and 6,000 pensioners.Paymaster […]

Government to allow parallel pension holdings under stakeholder

The Government will announce today that it is prepared to allow people to hold more than one pension plan at a time according to the Financial Times.The plans outlined within the final consultation paper on stakeholder pensions, postpones a final decision on the issue but indicates ministerial backing for the idea.The FT says ministers favour […]

Global income: preparing for a rate rise…

In the five years since we launched the Artemis Global Income Fund, its manager Jacob de Tusch-Lec has built a distinctive portfolio that is first among its peers. Here he explains why his “quality, cyclical and value yield” stocks, and flexible approach, leave the fund better placed to benefit from uncertainty than funds that depend […]


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