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

FCA willing to take on legal risk in firm crackdown

The board therefore did not consider that the existence of legal risk should prevent the FCA from taking such action.

Norway’s Sovereign Wealth Fund Excludes 3 Firms for Rights Violations

Shapir Engineering and Industry, Mivne Real Estate, and Honeys Holdings were deemed an ‘unacceptable risk.’

Bank of England publishes Discussion Paper on New Forms of Digital Money

The Bank of England has today published a Discussion Paper which aims to broaden the debate around new forms of digital money and seek views on the Bank’s emerging thoughts on the subject.

Gefion Insurance A/S declared bankrupt

It operated in the UK on a freedom of services basis which means that some customers, both individual and small businesses, based in the UK have held policies with the firm.

Esma publishes framework for CCP stress tests

The 2021 Stress Test addresses credit and concentration risks, and uses improved methodologies, including lessons learned from previous exercises, such as assessing the combination of concentration costs and credit losses when liquidating defaulting portf

EBA makes recommendations for reducing supervisory reporting costs

In the report the EBA identifies 25 recommendations aimed at reducing the costs of compliance with supervisory reporting requirements focusing primarily on small and non-complex institutions

Five steps to business continuity in UK financial services – managing third party risk

When disruption occurs, it is important for effective crisis communication measures to be put in place

AML and Brexit: golden opportunity or time to close the vault?

Lawyers are encouraged to undertake risk assessments for each client, basing their judgement on a holistic consideration of multiple factors.

Philippine investigators accuse ex-Wirecard COO of fraud, cybercrime

The Philippine central bank has said previously the money never entered the country's financial system.

Gibraltar regulator restructures amid surge in financial firm applications

This is the latest step in our approach to improving stakeholder engagement."

EFAMA welcomes proposed transitional period under Article 8 of the taxonomy

Financial undertakings' taxonomy disclosures cannot take effect at the same time as disclosures of investee-companies.

Why use a regulatory hosting umbrella?

This means that the unregulated firm can carry out regulated activities prior to obtaining direct authorisation by the FCA.

Hogan Lovells advises Commerzbank

The shareholders' meeting of Vonovia SE resolved a dividend payment of EUR 1.69 per share on 16 April 2021.

Santander pushes back at Which? over APP scam reimbursement rates

Many of the UK’s biggest banks and building societies are signed up a voluntary code, which is based on the principle that blameless victims of bank transfer scams should be reimbursed their losses.

New EU standard contractual clauses adopted: 18 month deadline to reassess international transfers of personal data from Europe

There will be a limited period of three months during which businesses can still enter into new contracts using the Old SCCs. However, these contracts will also need to be updated to the New EU SCCs within the 18-month period.

European Commission Clarifies Obligations of Financial Institutions as to Frozen Funds

The Commission, emphasizing the requirement to prevent a change that would enable the use of the funds

EU: New Standard Contractual Clauses – From theory to practice

Most large companies have complex webs of data transfers to hundreds, if not thousands, of overseas recipients, many of which will depend on SCCs.

Supporting smart contracts under English law: five key conclusions from our latest publication

It recently closed a call for evidence, to which Linklaters submitted its views.

"2L, or Not 2L, That Is the Question"

Facilities can be overcollateralized given that the borrowing base that lenders use to assess availability under a Facility often does not include all Investor commitments a Fund has access to, but the Security granted does extend to the right to call on

Ukraine parliament approves bill to jail officials for hiding wealth

That ruling has hobbled Ukraine's prospects of securing more IMF loans and prompted President Volodymyr Zelenskiy to suspend the head of the court.

Legal, Regulation & Compliance