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

CP86 compliance: can you prove it?

Strong governance is undoubtedly in the fund industry’s best interest; few would argue otherwise.

Year 'dominated' by FCA shortcomings as 205 complaints made

The commissioner received 205 complaints against the FCA in the year 2019/20, 29 of which alleged it had failed to regulate the financial services industry properly.

Financial services legislation under the EU (Withdrawal) Act 2018

This work involves making statutory instruments (SIs) under the European Union (Withdrawal) Act to prevent, remedy or mitigate any failure of EU law to operate effectively after the UK leaves the EU.

ECB’s pledge to encourage bank mergers is falling on deaf ears

M&A rumours make for good gossip but lenders are better off focusing on self-improvement

Technical consultation: Fifth Money Laundering Directive and Trust Registration Service

A significant majority of respondents agreed with the list of trusts that were proposed to be out of scope of registration

Landmark Pension Schemes Bill proceeds to House of Commons

Measures to protect savers and the climate are at the heart of the government’s Bill.

Covid-19: FCA updates guidance and rules on motor finance, HCSTC, RTO, BNPL and pawnbroking

The FCA has also updated its webpages entitled 'Dealing with financial difficulties during coronavirus: information for consumers' and 'Coronavirus: information for consumers on personal loans, credit cards, overdrafts, motor finance and ot

UK Government welcomes announcements by eight Overseas Territories to tackle illicit finance

Foreign Secretary welcomes the move by the Overseas Territories as a major step to improve corporate transparency.

Feifa partners with asset manager for European ESG push

Members will get a discount on its 0.4% annual management charge

Italian Banca Ifis enters the German market in partnership with Raisin

The partnership enables Banca Ifis to extend its banking offers across borders and into Germany, diversifying its funding streams, thanks also to the use of an already operational digital retail banking infrastructure.

Shareholder Rights Directive – Your Questions Answered

There are several key sections for intermediaries to focus on when preparing for compliance with SRD II.

Foreign Investment Screening: UK National Security and Investment Bill – Striking a delicate balance

The Government announced the National Security and Investment Bill in December 2019 and it is soon to be published.

Harneys recognised as “the obvious choice” in Chambers HNW Guide 2020

Another offshore source noted “they are a very reputable firm and you know you will be in good hands with them; they are a very well-known name in the offshore world and carry real clout."

Online quiz launches reform of capital gains tax

The OTS has also been asked to identify simplification opportunities relating to administrative and technical issues affecting individuals, partnerships and unincorporated or single-entity owner-managed companies.

CPMI report identifies steps to enhance cross-border payments

Cross-border payments suffer from a number of frictions - they can be slow, expensive, unreliable and unavailable in some countries.

Offshore laws glide through LA

Nevertheless, it needed to be changed to eliminate “ambiguity” over registration and Rivers said that these changes has also been run by the industry.

Explain some of the importance of trusts

Trusts are one of the most enduring concepts in common law.

Does the EU’s anti-money laundering strategy ignore the (Russian) elephant in the room?

The list of high-risk countries includes primarily African, Asian and Caribbean nations, which according to the EU “pose significant threats to the financial system of the Union”.

Court ties dos Santos to ‘fraudulent’ diamond deal as Portugal further freezes out billionaire

An Angolan court says the deal between the country’s diamond company and Isabel dos Santos’ husband was harmful to average Angolans.

Ogier's Private Wealth team in Guernsey "an obvious choice for high-value trust work"

Chambers interviewees say Gavin is "a very good lawyer" with "a very good reputation" and "well known for being great with clients".

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