Old Mutual Int’l ‘Taking Legal Action’ Against Leonteq Over Commissions

old_mutual_venta_latamOld Mutual International, the international investment products arm of Old Mutual Wealth, is “taking legal action” against Zurich-based Leonteq Securities AG “and related parties”, for “the making of false statements” in connection with the levels of commission paid to advisers on Leonteq structured products.

“Had the true level of commission been disclosed, the products would not have passed Old Mutual International’s criteria, and no investments would have been made,” OMI said in a statement. Learn more

Advertisements

Worldwide Commission Disclosure Could Sound Death Knell for Isle of Man Life Companies

Death-001.jpgWhilst worldwide commission disclosure for life companies based in the Isle of Man such as Old Mutual International, Friends Provident International, and RL360 are two years away, life companies are beginning to brace themselves for a major slump in sales once the changes come into effect in January 2019. Some have argued the regulatory changes may sound the final death knell for life companies, which sought to delay commission disclosure that were intended to come into force in January 2018.
Learn more