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

Linklaters advises Crédit Agricole CIB

The transaction was structured to qualify for off-balance sheet treatment under IFRS.

Linklaters advises Lhyfe on its IPO on Euronext Paris

The London and New York offices were also involved in the case.

Six Carey Olsen partners enjoy Best Lawyers recognition

The 11th edition of The Best Lawyers in the United Kingdom saw 6,000 lawyers recognised across 84 practice areas.

Addleshaw Goddard Financial Services & Banking News

The updates reflect the feedback received to the consultation and include additional activities contributing to climate change mitigation.

Pensions consumer journey

This Feedback Statement (FS) summarises the themes and sets out our response, ongoing workstreams and how we will use the feedback to inform future work.

PS22/6: Preventing claims management phoenixing by financial services firms

We are introducing new rules for claims management companies prohibiting them from carrying out regulated claims management activity in certain circumstances.

PwC fined £5mn over audits of London-listed construction groups

The penalties were reduced from £5.5mn and £3.35mn respectively in recognition of PwC’s co-operation

Chancellor stresses confidence in UK economy's outlook

Stride referenced a recent report by the Bank of America that showed a steep drop in sentiment towards sterling in an investor survey.

FCA and TPR rule out new pension saving regulations

It said the views gathered would inform policy making and be used to target any future regulatory interventions to improve consumer pension journeys.

FCA pledges to get rid of phoenixing by CMCs within 2 years

At least 220 FSCS claims are submitted each year involving phoenixing connections between the firms submitting the claims

Thousands of UK workers begin world’s biggest trial of four-day week

With work changed for ever by the pandemic, businesses are testing whether pilot represents a recognition that ‘the new frontier for competition is quality of life’

Eversheds Sutherland Switzerland again recommended by Legal 500 for 2022

In their 2022 editions, the international independent law firm directory Legal 500 has again recommended Eversheds Sutherland Switzerland as top tier or leading firm in the following areas

FCA struggles to lure diverse candidates for chair role

Figures disclosed to FN raise further concerns about the diversity of the talent pool for key public sector jobs

Complexity around directors’ duties owed to Irish insurers

The duties which apply to an Irish director were codified in the Companies Act and were the subject of a lot of market commentary at the time.

UK proposes measures to protect against the collapse of systemic “digital settlement assets”

Stakeholders have until 2 August 2022 to respond.

Basel Committee progresses work on climate risk and crypto asset regulation

The Committee's agreement will not affect the classification of any banks as G-SIBs or the scores or bucket allocations of banks outside of the EBU.

AIFMD Rapporteur proposes widening of ‘professional investor’ definition under AIFMD

These individuals do not currently fall within the definition of professional investor.

Old dogs, new tricks: adapting central bank balance sheets to a world of digital currencies − remarks by Andrew Hauser

Given at Federal Reserve Bank of New York and Columbia SIPA Workshop on ‘Monetary Policy Implementation and Digital Innovation’, New York

Addleshaw Goddard Financial Services & Banking News

This letter outlines the FCA's view of the key risks of harm in the DRSP portfolio

Private equity industry like a Ponzi scheme, says Amundi CIO

One private equity firm will sell to another who is happy to pay a high price as they have attracted a lot of investors.

Legal, Regulation & Compliance