- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

UBS courts US investment heavyweights to boost valuation

Executives want to convince investors it is a global bank, not a European institution

Ukraine war: UK joins ban on imports of Russian gold

US President Biden suggested the other G7 nations - Germany, France and Italy - would also join the ban.

Restrictions placed on Colbourne & Company

Colbourne & Company is a sole trader, and Mr Anthony James Colbourne SMF16 is the only person in the firm who was able to conduct regulated activity on the firm’s behalf.

The Clear Group completes new investment from Goldman Sachs Asset Management to drive the next phase of its growth strategy

The business has also trebled its premiums, today handling over £330m GWP.

FCA tackling scams faster as part of data strategy

This action forms part of an update on the FCA’s data strategy showing the progress it has made improving its use of data and its plans to identify and prevent harm sooner.

FCA fines Ghana International Bank Plc £5.8m for failings in its anti-money laundering controls

The FCA requires banks to do extra checks on their correspondent banking customers to reduce the higher risk of money laundering and terrorist financing associated with the service.

European Banking Authority Asks for PSD2 Review

The EBA has observed that, while some objectives of the PSD2 have started to materialise, there are still many issues and challenges that need to be addressed.

Client left to courts after CMC failed to pay Fos award

He said when he spoke to the firm in July 2020, he was told his case had been passed to a law firm.

Tax authorities issue guidance on amended RETT rules

“Grandfathering” and transition rules apply to manage the change from the former rules to the amended rules.

Carey Olsen named a finalist for two STEP Private Client Awards

This year's awards also saw a record number of nominations, with 337 submissions from 27 countries for the 21 categories available.

What did the monetarists ever do for us? − speech by Huw Pill

The current challenge for UK monetary policy is to contain those second round effects and return inflation to target as global energy and goods prices stabilise or revert in the coming years.

25% of UK advisers unaware of incoming Consumer Duty rules

Platform providers in demand to help deal with the changes

FCA fines insurance broker JLT Specialty Limited £7.8m for financial crime control failings

JLTSL placed business in the London reinsurance market for JLT Re Colombia, another company in the JLT group.

UK Pensions – Enhanced climate change reporting requirements from 1 October

Trustees now need to get up to speed quickly with these new requirements, as well as watching this space for further developments in this rapidly evolving area.

Irish Central Bank: insurance platforms must ensure suitability of senior staff

Ireland continues to be among one of the most attractive locations within the EU to establish an insurance or reinsurance intermediary (together, ‘intermediary’) platform.

Confederation arranges for implementation of OECD minimum tax rate in Switzerland

The supplementary tax is limited to large corporate groups with worldwide turnover of at least EUR 750 million

Changes to FCA Firm Reference Numbers (FRNs) and Product Reference Numbers (PRNs)

The Financial Conduct Authority (FCA) published a statement on the plan to move to a seven-digit FRNs and PRNs for newly registered firms and funds.

Rockwood Strategic says corporate dispute led to 'significant costs'

£1.1m for corporate actions

German central bank believes retirement age must be linked to life expectancy

Since 1871, the life expectancy in Germany more than doubled to currently 78.6 years for men and 83.4 years for women, according to the Federal Statistical Office (Destatis).

British Lawmakers Urge Wimbledon to Drop HSBC Sponsorship

This is not the first time that sporting event organizers were criticized for partnerships with banks in Hong Kong that backed the security law.

Legal, Regulation & Compliance