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

PRA remit could change for UK investment firms regime

The FCA opened its third consultation on proposed IFPR rules, covering changing prudential standards, earlier this month.

EU privacy watchdog calls for stricter data use to guarantee fair access to credit

The opinion argues that a stronger, clearer framework should be implemented when it comes to credit assessment, at a time when new lending platforms have started to dig into non-traditional sources, like social media data or consumer browsing history, to

Government urged to make CDC pension schemes more accessible

This means there are currently limited options for sponsors who may wish to explore different benefit structures.

FCA will go for 'high-profile scalps' over adverts

The latest research from InfluenceMap finds that not all strategies with climate in their name are aligned with carbon-neutral targets.

Remote right to work checks to continue until 5 April 2022

In many cases, this involved meeting the employee and checking their documents in person.

Frontier workers: Swiss government adopts new agreement with Italy

The new agreement will enter into force once the Italian parliament ratifies it.

Germany and US issue joint statement on spontaneous exchange of CbC reports for 2020

According to the German regulations, in the absence of such an information exchange agreement, a German taxpayer must submit the group’s CbC report to the German competent authority, even if the ultimate parent company submitted the report on time

Danske Bank defeats appeal in U.S. over money laundering scandal

Their lawyers did not immediately respond to requests for comment.

US probes Deutsche Bank's asset management arm over sustainability claims

The agency earlier this year established a task force to root out misconduct related to environmental, social and governance issues.

Mounting workloads and staff struggles: Can the FCA keep up?

A mounting workload is throwing up tough decisions for the regulator

Hundreds of advisers give up permissions during pandemic

Recent data found many UK advice firms saw a decline in profitability through 2020, despite some of the larger firms reporting profitable years.

LCF investors drop appeal against FSCS

The issue of compensation from the FSCS has been a matter of debate as mini-bonds are unregulated investments and therefore not protected by the scheme.

Kirkland Represents Nordic Capital

The transaction is expected to close in late 2021

Report: Italian Mafia Exploits Cryptocurrency and the Deep Web

The anonymity offered by the online markets is particularly valuable to the criminals amids the pandemic

Former Santander employee accused of multimillion-pound fraud

Belfast man (39) to stand trial on 66 counts of fraud by abuse of position with bank

EY fined more than £2m over Stagecoach audit failings

Big Four firm and former partner receive severe reprimands from UK accounting watchdog

Financial Regulation: Daily Update

The FCA will next write to firms in this portfolio in 2023 when it will provide its updated view of the key risks firms in this portfolio pose, the extent to which these risks are being mitigated, and the FCA's updated supervisory plans as a result.

FCA warns insurance firms over product governance rules deadline

Part of the FCA’s ongoing work to ensure consumers receive fair value, the review looked at how firms designed, sold and reviewed their products to ensure they met the needs of their customers.

General insurance product value and coronavirus (Covid-19) Guidance – update

Customers should be able to expect fair value from the financial services products they buy.

The EBA updates data used for the identification of global systemically important institutions (G-SIIs)

The EBA, acting as a central data hub in the disclosure process, updates this data on a yearly basis and provides a user-friendly platform to aggregate it across the EU.

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