Managers of Wealth Europe

Mifid rules highlight the costs of investing

Wealth managers now required to produce annual fee statements

Liz Field: What does the future hold for regulation?

The UK has contributed to and defined a great percentage of this over the past 40-odd years

FCA finds "significant shortcomings" in review of principal firms

Our review identified significant shortcomings in principal firms’ understanding of their regulatory responsibilities for their ARs.

Gresham House and AXA IM team up for forestry fund

The firm did not disclose how much the portfolio was worth but the Society of Chartered Surveyors Ireland found the average hectare of forest changed hands for €9,838 (£8,623) in 2016, making the portfolio worth a potential €40 million: al

Money Laundering Deterrence in Europe: Time to Get Serious

The Egmont Group has grown to a large international organisation of 159 financial intelligence units, representing the operational arm of AML/CFT deterrence to complement the strategic arm of the FATF.

German regulator orders online bank N26 to step up controls against money laundering

On Wednesday, BaFin said N26 must take measures including reidentifying some existing customers, catching up on a backlog of IT monitoring and documenting workflows.

FCA review of principal firms in the investment management sector

FCA wins case against unauthorised forex firm

Investigation into London Capital & Finance launched

An investigation into the circumstances surrounding the collapse of the investment firm and the Financial Conduct Authority’s supervision of the firm

Philip Green to close 23 stores with over 500 job losses

Sir Philip Green’s wife and ultimate owner of Arcadia will also inject a further £50m of equity into the business making a total of £100m that she has loaned the company.

EU high court rejects compensation bid on Greek bond losses

The Luxembourg-based court said there wasn't evidence the ECB, which advised Greece on the deal, committed "a sufficiently serious breach" of European Union law.

ECB speech on the future of global financial regulation

Mr de Guindos discusses the following three areas in which he believes further efforts are required

LIBOR transition: Practical points for asset managers

Alternative risk free rates measure overnight borrowing costs in either unsecured or secured financial markets.

Harlequin advice comes to haunt adviser

These benefits arose because the scheme had been converted from a defined benefit to a defined contribution scheme.

Gibraltar-based insurer files for liquidation

The GFSC said that policyholders should be aware that whilst their policies are still valid, the firm is "not in a position to pay claims".

UBS Is Poised to Settle Tax Case With Italy for $110 Million

Rival Credit Suisse Group AG in 2016 agreed to pay 109.5 million euros to Italian authorities investigating the bank’s past use of insurance policies, allegedly to help clients evade taxes.

Legal bid to save British Steel with disputed £30m insurance claim usurped by insolvency

British Steel had sought further damages from the insurers to compensate for their slow response and incomplete investigation of the claim.

FCA wins case against unauthorised investment firm

The scheme took in at least £1m from investors, but in reality the money was used to fund a Mayfair office, brokers' wages and Mr Chitty's personal spending.

France considers pulling out of Fatca

Move dependent on negotiations to avoid double taxation for French American citizens

Crypto scams bite UK

The FCA said fraudsters then contact the victim, aiming to secure more funds and new targets in the form of the victim's friends and family.

Scottish Widows says IGCs should not oversee pathways

The pathways include an option for consumers who have no plans to touch their money in the next five years and for those who plan to use their money to set up a guaranteed income within the next five years.

Legal, Regulation & Compliance