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

EU Developing Plan for National Covid Bad Banks If Needed

Europe’s banking system had a slow recovery from the financial and European debt crises a decade ago, and governments still hold stakes in some lenders.

DNB faces fine over money-laundering procedures

DNB will now examine Finanstilsynet's report and submit a response, but it said that as Finanstilsynet has not yet finished processing the case and hasn't reached a final conclusion, DNB can't go into further detail on the content of the re

Bank of England considers legal action over green bonds hoax

“We are aware that a group purporting to be the Bank of England has published fake announcements today through social media and email,” a spokesperson said.

Open consultation | Non-resident capital gains tax

The Finance Act 2019 expanded the scope for taxing gains made by non-UK residents on UK property

FCA: Update of position limits for certain commodity derivative contracts

The guidance covers all stages of insolvency, including pre-insolvency, entering insolvency, post insolvency, and restructuring procedures.

Russian oligarch’s son racked up $50m in day trading losses

Ex-wife of billionaire Farkhad Akhmedov accuses their son of helping to hide assets in divorce battle

Tax Alert: HMRC "nudge" letters

Read the tax update now.

FCA backs new ‘digital giants’ regulation

If implemented, the new regime will govern the most powerful UK tech firms – those with ‘strategic market status’ (SMS).

EU Exit: New FCA webpage on MiFID reporting after TP

We provide details on how we’re moving MiFID reference data and transparency systems away from ESMA as part of the MiFID onshoring process.

CySEC’s enhancement of procedures to protect client funds held by CIFs

Until now there had been some ambiguity as to the processes to be adopted by CIFs handling client funds.

Swiss-UK deal to grant consultants privileged mutual access

Under the terms of the deal, British service providers will have access to the Swiss workplace for up to 90 days at a time, the government said on Friday.

Global Fintech Regulatory Rapid Assessment Study due to Covid-19

This global study seeks to assess how central banks and other financial regulators are responding to the challenges of Covid-19 in regulating and supervising FinTech activities and other forms of Digital Financial Services.

The Receivers are coming

Parties often go to great lengths to evade the consequences of a judgment or order including pursuing robust legal challenges in court.

Malta luxury cards provider fined €373,000 for money laundering breaches

Ultra-rich spenders’ credit card company that recruited former Labour minister Chris Cardona in litany of money laundering breaches

Directors banned after taking millions from investors

Mr Skinner and Ms Ferreira have now been banned by the Insolvency Service for 10 and seven years respectively.

Appleby Instructed on Arcadia Group Administrations ,Obtaining Recognation of UK Officeholders

The recognition of the Joint Administrators in the jurisdictions will enable them to continue to trade the stores in those locations, whilst options are explored and the strategy of the administrations evolves.

Charges expected after Pilatus money-laundering probe

The bank’s operations were shut down in 2018

HMRC under fire for 11 ‘serious’ personal data breaches affecting over 20,000 people

The incidents, disclosed in HMRC’s newly published annual report, are estimated to have affected 23,173 people in total and have been analysed by litigation practice Griffin Law.

Update of position limits for certain commodity derivative contracts

The changes reflect changing market conditions.

Pope Francis’s Plan to Fix the Vatican’s Finances Meets Internal Resistance

The Church bureaucracy known as the Curia is clinging to the privileges that come with controlling the purse strings.

Legal, Regulation & Compliance