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

Germany Ministry of Justice proposes wide-ranging protection for whistleblowers

The draft bill aims to expand the hitherto incomplete protection of whistleblowers and create legal certainty for them.

SPACxit – can London save SPACs to secure its position in the new world?

In the UK, SPACs are considered cash shells which are not eligible for listing on the Premium segment of the Official List

Changes to AIFMD Marketing Rules from August 2021 – How will these New Rules Impact Fund Managers?

The Marketing Rules also provide that where a draft prospectus or offering memorandum is provided as part of “pre-marketing”

Ashurst advises on £563 million acquisition of Arrow Global

The acquisition will be funded by equity to be invested by funds managed by TDR Capital LLP and it is intended the acquisition will be implemented by way of a court-sanctioned scheme of arrangement.

FCA urges Claims Management Companies and High Cost Lenders to work better t

All firms are also reminded of the need to have regard to previous FOS decisions when they are dealing with complaints.

Co-op Legal Services warns of digital assets time bomb as 'unclaimed funds' pot swells

Figures released by Finder in February 2021* show that almost a fifth (19%) of Brits say they’ve now bought cryptocurrency - equivalent to 9.8 million people - meaning that the number of crypto-users in the UK has surged by 558% since the beginning

A new year, a new set of arbitral rules: a summary of the key changes introduced in the 2021 ICC arbitration rules

This introduces greater flexibility in the manner in which hearings are conducted and allows for parties’ to ensure their voices are heard and cases are plead even if they are prevented from traveling physically to a hearing.

Financial Regulation: Daily Update

The action outlined in the Decision Notice is therefore provisional and will have no effect pending the determination of the case by the Upper Tribunal.

The FCA and the Bank of England encourage market participants in a switch to SONIA in the sterling non-linear derivatives market from 11 May

Where new LIBOR transactions are entered into, market participants should be aware of the risks and take appropriate steps to establish that their clients are too.

Sanne secure first specialised depositary services licence in Ireland

The new licence expands Sanne’s already well-established product offering to cater for Irish domiciled closed-ended funds.

The English High Court holds that “awareness” is required for LIBOR misrepresentation claim

The claimants contended that their loans were tainted by false representations on LIBOR.

7IM suspends dealing in two funds over liquidity concerns

Based on two illiquid securities

Vatican official ‘offered call girl as thank you for £300m Chelsea property deal’

Judge Tony Baumgartner dismissed the restraint orders on Torzi, who denies charges of embezzlement, fraud, extortion and money laundering.

Better Growth Offsets Inflation ANGST

The first quarter of 2021 was most notable for the bond tantrum as inflation expectations in the market started to adjust to the reality of higher prices.

Will 2021 be the year of special purpose acquisition companies (SPACs) in Luxembourg?

A SPAC is essentially a shell company formed with no business purpose or undertaking other than to raise funds for some future undefined object, and then later use the proceeds of that offering to acquire a private company in a reverse merger.

ESMA fines Moody's €3.7 million for conflicts of interest failures

ESMA believes it is crucial, to ensure independent good quality ratings and to protect investors, that CRAs carefully identify, and subsequently eliminate or manage and disclose conflicts of interest to avoid interference by shareholders with the rating p

Davy taps A&M for forensic investigation into operations

The news comes weeks after Davy was fined €4.1 million by Ireland’s Central Bank for a number of regulatory breaches related to a 2014 transaction.

European supervisory authority issues €8.15m fine for international data transfer and processing failings

This case demonstrates that organisations that transfer

PIMFA Welcomes the Enhancements to Consumer Protection Laid out in New Work and Pensions Committee Report on Pension Savers and Scams

Savers cannot continue to be liable to lose their life savings because of what amounts to regulatory shades of grey and the government must act to both empower the Regulator, as well as place a duty of care on tech providers to undertake proper due dilige

BSPS adviser enters default with 13 FSCS claims

The scheme had about 130,000 members at the time of which 43,000 were deferred, which meant transferring out of their pension was an option for them.

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