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

Accounting rules prevail following HMRC loss in the Supreme Court

The respondent companies claimed a subsequent deduction from their profits for the purposes of their corporation tax liability.

ESG Investing – High Court provides welcomed clarity for charity trustees in Butler-Sloss

They wished to exclude investments that are not aligned with the agreement, even if the financial returns may not be maximised as a result.

European Union: Empowering investors to pursue sustainability goals

Building on the findings of the LFI report relating to the EU, this paper sets out why legal changes are needed to enable mainstream investors to work towards sustainability impact goals.

New principles for charitable trustees exercising their powers of investment

The case was brought by the trustees of two charities – the Ashden Trust and the Mark Leonard Trust – whose principal purposes are environmental protection and improvement and the relief of poverty.

EBA publishes final technical standards on crowdfunding service providers

Investors using crowdfunding platforms may be exposed to the risk of having insufficient information, and/or incomplete understanding of the viability of a crowdfunding project or of the due diligence conducted by the crowdfunding service providers.

US tops financial secrecy ranking as G7 countries upend global progress on transparency

The G7 countries’ undermining of global transparency has further fuelled calls by leading economists for a UN tax convention

Carey Olsen wins equity deal of the year at IFLR Europe Awards

The awards showcase the leading law firms, lawyers and in-house teams and recognise their work on the most legally innovative and ground-breaking cross-border deals over the past year.

Digital euro won’t usher out European banks – ECB’s Philip Lane

Unlike cash, the digital currency would exist only online and could be used to make payments between any digital platform without passing through a bank.

Financial Services & Banking News

The EBA will submit the draft RTS to the European Commission for endorsement

Linklaters advises commercial banks and the EIB

This financing, which closed in November 2021, marks the first time commercial lenders take limited-recourse construction risk on a floating offshore wind asset (worldwide first).

Irish central bank lays down new rules for BNPL providers

The Act introduces an interest rate cap of 23% APR on all credit agreements provided to the consumer.

‘Straw Owner’ Hides $1 Billion Worth of Russian Yachts

A US affidavit seen by Bloomberg News says a nest of offshore companies and a yacht broker helped obscure a superyacht’s true owner

M&G promises platform improvements after adviser complaints

While the first two platform updates were not given a time stamp, paperless transactions are set to be in place by the end of this year.

CII could face £2.5m tax bill after HMRC review

The assessment of the CII’s historic tax situation is still ongoing, but HMRC estimates the CII and PFS could face a £2.45m tax liability, latest accounts for the Institute show.

Nucleus to cut platform charges

A source told FTAdviser some firms are on variable pricing structures, which is putting further pressure on the provider to consolidate pricing.

Nucleus to cut platform charges

The idea is to bring all customers of Nucleus and James Hay to a similar pricing point.

FCA plans major expansion of dormant assets scheme

The FCA is consulting on its proposals in CP22/9 until 17 June with the aim of publishing proposed new rules in July.

FSCS investigating claims against Cavendish Incorporated

Neither Cavendish Incorporated nor Cottesmore Associates have ever been permitted by the FCA to provide regulated advice on investments.

Insurance brokers: serving consumers and businesses in times of uncertainty and change

As brokers, you help consumers and businesses find the right insurance products they need, enabling them to safeguard against unexpected and unaffordable financial losses.

FCA refuses authorisation to regulatory consultancy firm Alexander Jon Compliance Consulting Limited

The FCA refused the application to protect consumers from the risk of using a poorly overseen investment business.

Legal, Regulation & Compliance