The UK-based insurer says it remains committed to its two remaining markets of Hong Kong and China despite industry headwinds, saying it has switched its focus to affluent clients.
Australia-based Easton Investments' purchase of 20% of AAM Advisory will give the Singaporean firm the firepower to buy into local rivals.
The Monetary Authority of Singapore has set out recommendations from its Financial Advisory Industry Review. Insurers may be relieved the rules don't go as far as some expected.
The nation's securities regulator has granted mutual fund distribution licences to four independent financial advisers, which will aim to gain market share by providing professional fund services.
Hong Kong’s securities regulator continues to follow a tough line with rule-breakers by penalising Solomon Independent Financial Advisors.
And tighter rules on investment-product sales following the crisis are not helping matters, according to a report from the US funds-research house.