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

FCA urged to take action against ESG fraud

Investment companies should be held to the same standards as funds.

Financial Services and Banking News

Both Delegated Regulations will enter into force on the twentieth day following that of their publication in the OJEU and shall apply to all Member States.

SICAV fund fined over 'millions invested without robust controls'

The FIAU found Southern Cross failed to adequately document its internal procedures to fight money laundering and did not properly screen its customers before accepting their money.

US and Malta agree joint crackdown on pension plan abuse

This came to light after both authorities found that US taxpayers with no connection to Malta were misconstruing the pension provisions of the Treaty to avoid income tax on the earnings of, and distributions from, personal retirement schemes established i

FCA authorisation application fees: new structure

We are setting out the new structure for authorisation application fees that comes into effect from 24 January 2022.

FCA mulls disciplinary action as Woodford probe nears conclusion

FCA chief executive Nikhil Rathi: ‘We are now finalising our legal analysis with a view to making decisions as to whether to take action’

BIICL study on Rome II

It is common for the European Commission to formally report on the operation of such legislation and make proposals for reform.

FCA pushes ahead with new firm fee hike

It said its processing cost ranged from £2,450 on average for straightforward cases to £6,750 on average for more complex ones.

UK FS regulator takes aim at cloud giants

Since then, Amazon Web Services has suffered a serious outage that affected a host of big firms, prompting serious worries at regulators around the world.

FCA to review competition concerns in wholesale data markets

Effective competition is central to ensuring markets work well and is at the heart of the FCA’s wholesale strategy.

Financial Regulation: Daily Update

Commission Delegated Regulation amending Delegated Regulation (EU) 2016/1675 and supplementing the Fourth Money Laundering Directive (MLD4) has been adopted by the European Commission (EC).

Important update for owners of French property: changes to succession law in France

This changed in 2015 when the EU Succession Regulation came into force.

Is Jersey part of the UK for probate purposes?

Trust and estate practitioners in Jersey and in the UK are well versed at advising clients the opposite however – that Jersey does not form part of the UK.

Updated AIFMD Q&A signals Ireland is ‘very much open for business’

The CBI also noted that the QIAIF’s prospectus should detail the role of the AIFM with respect to its ongoing oversight and review of services provided by such non-discretionary investment advisors.

Financial Regulation: Daily Update

The FSB has requested feedback to these practice papers by 15 March 2022.

Ounapuu Ltd (formerly Ferratum UK Limited) enters a Creditors’ Voluntary Liquidation

The Liquidators will provide updates to customers as soon as possible.

FCA commences criminal proceedings in relation to Collateral (UK) Ltd

The FCA alleges that the Curries, who are brothers, dishonestly represented to investors that Collateral was authorised and regulated by the FCA to operate as a peer-to-peer lender knowing this was untrue.

France fines Google, Facebook millions over online tracking consent

Cookies have been a source of privacy concerns because they can be used to track users

HMRC waives late self-assessment penalties

The penalty waivers give taxpayers who need it more time to complete and file their return online and pay the tax due without worrying about receiving a penalty.

Diversity and inclusion: both a path and a destination

Our article considers key implications for firms in the financial services sector.

Legal, Regulation & Compliance