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

‘Tis the season to be gifting into trusts

Speculation continues over the Chancellor’s next move in the forthcoming Budget, scheduled for 3 March 2021.

Financial Regulation Update

For the UK, this decision will apply from 19 December 2020 until the end of the transition period

Allianz chief urges stricter fintech rules after Wirecard scandal

Oliver Bäte says regulation is ‘major problem’ and similar high-profile cases are likely

Luxury London homes still used to launder illicit funds, says report

National Crime Agency steps up investigations into suspect funds flooding into UK

Ireland Update – Data Privacy – International Data Transfers

The EDPB Recommendations Since the delivery of the “Schrems II” judgment, there has been no guidance available to transferring parties to assist in determining which supplementary measures should be introduced.

FCA introduces rule to enhance climate-related disclosures

The rule will apply for accounting periods beginning on or after 1 January 2021

FCA fines Charles Schwab £9m for safeguarding failures

Charles Schwab UK failed to get the correct permissions from the FCA; then failed to be open with us and, finally, failed to put in place the necessary safeguards to ensure, if required, there could be an orderly return of client assets.

Regulation alone will not strengthen Europe’s digital sector

The EU needs more risk-taking capital and reformed product markets

Israeli Billionaire Steinmetz Sentenced to Five Years by Romania's Top Court for Bribery

Steinmetz, along with Israeli media consultant Tal Silberstein, was given a five-year sentence, overturning a lower court decision to acquit both in 2019

The EU's Data Governance Act just part of data sharing puzzle

Companies across Europe will be hoping that EU law makers address the risk of confusion and unnecessary additional burdens that the DGA might impose when reviewing and amending the Commission's proposals.

Irish Investment Limited Partnership

The Bill introduces a number of important changes which aim to position the ILP as a leading EU fund vehicle for private equity, sustainable investments and closed-ended alternative funds.

Why You Should be Planning to make some Data-Based New Year's Resolutions…..

But with various changes and timing shifts on the immediate horizon here in Guernsey, from a business perspective now is the perfect time to be planning your new year goals and objectives from a data protection and privacy perspective.

Foreign investment: Rising Tides of Politics in Regulation – newly updated report

The new EU Regulation on FDI screening mechanisms (fully operational since 11 October 2020) is also likely to encourage those EU Member States that do not currently have their own regime (just under half of them) to introduce one.

Greek banks use Dublin to move up to €54bn of risky loans

Irish-domiciled SPVs used to accommodate Greek assets, Central Bank reveals

The CSSF Releases Updates on the Implementation of ESG Fast Track Procedure for Disclosure Updates

The sustainability risk assessment approach and related disclosures feed into UCITS prospectus

Business sentiment (IFO) rises in Germany

Consumer confidence rose, over a month, the most in 8 years following the launch of the vaccine program.

Credit Suisse professes "astonishment" at Swiss money laundering charges

Credit Suisse unreservedly rejects as meritless all allegations raised against it and is convinced that its former employee is innocent.

CaixaBank participates in EU research consortium to develop a personal data protection platform

The company seeks to protect the operations and financial transactions of customers and shareholders to ensure that they take place in the most secure environment possible, preventing external threats that can jeopardise confidentiality and privacy.

Performance Fees – Central Bank takes initial steps towards implementing ESMA’s guidelines

While the Central Bank notes that the Guidelines could be immediately adopted

EBA updates its Report on liquidity measures and confirms banks’ solid liquidity position

The Report shows that EU banks have continued to improve their LCR.

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