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

Regulators May Punish Deutsche Bank for Its Jeffrey Epstein Ties

Banking regulators in New York have been investigating the German bank’s yearslong relationship with the disgraced financier.

FCA to probe advisers' financial resilience amid Covid

In March the FCA said firms were able to use their capital buffers to support their going concern if needed in a seeming relaxation of its capital adequacy requirements.

FCA bars high risk investment firms using fake ads

The FCA said the companies used social media to entice consumers into scams involving CFDs and in some cases customers were encouraged to take out credit to make payments and pressured into making increasingly large investments.

Ogier advises J D Wetherspoon plc on £141m equity raise

The Ogier team was led by partner Richard Daggett, assisted by managing associate Alexander Curry and associate Alex Fisher.

Trustees and Legal Professional Privilege

The Royal Court of Guernsey has recently considered the principles that apply to the creation of privileged documents when advice is obtained by trustees of a trust.

Charles Stanley pauses financial planner hiring drive

The business has set target revenues of £350,000 per financial planner per annum, excluding investment management fees, as it looks to move the division into profitability.

HMRC to go after company directors for furlough fraud

The taxman said it would hold directors "jointly and severally" liable for a penalty on the assumption "each partner is taken to know anything that any of the other partners knows".

FCA slammed for Woodford complaint handling

Complaints Commissioner Antony Townsend also criticised the FCA for failing to signpost the Financial Ombudsman Service or Financial Services Compensation Scheme in relation to the lost pension fund.

FCA update on test case of validity of business interruption claims and draft guidance for firms

FCA exercises power to remove passporting rights from Cypriot firms that used unauthorised celebrity endorsements

FCA stops Montfort Intl from carrying out new pension business

Including where applications have not yet been submitted to product providers

The Death of a Black Swan

A right to obtain an interlocutory injunction is not a cause of action.

HMRC task forces collect £540 million in extra tax revenue

HMRC currently has over 200 active task forces focusing on sectors of the market where its intelligence suggests tax evasion and tax avoidance need addressing

UK to extend Visa rights for Hong Kong’ers

Bonnie Glaser, Director, China power project at the Centre for Strategic and International Studies, said: “Ultimately we could see capital flight. We could see US businesses moving out of Hong Kong, expats leaving, and the end to Hong Kong as an int

Curbing money laundering

SCB agreed to settle OFAC’s claim for $132m regarding 911 transactions worth around $133m to or through the United States in violation of Iranian Transactions and Sanctions Regulations (ITSR).

Victory for fraud victim who took on HSBC

The client first contacted FTAdviser four days after she was the victim of a sophisticated APP scam.

UK Government Seizes $185 Million From Dormant Bank Accounts for Crisis Relief

The U.K. government’s asset seizure program under the Dormant Bank and Building Society Accounts Act 2008 began in 2011.

Woodford collapse one year on: Final £500m of investments “likely to be almost worthless” warns Willis Owen’s Lowcock

These proved hard enough to sell during the bull market of 2019 but could be almost impossible to offload now, with the UK heading towards what could be its deepest recession in living memory thanks to the global pandemic.

Carey Olsen advises Hiscox on LSE capital raising

Working alongside onshore counsel Allen & Overy, the cross-jurisdictional Carey Olsen team was led in Bermuda by partner Mary Ward

BNP Paribas Chinese Unit Fined for Anti-Money Laundering Violations

The penalties were part of the PBOC’s efforts to ramp up punishment of financial institutions that fail to adequately guard against money laundering.

More than 200 leading businesses urge UK Government to deliver clean, inclusive and resilient recovery plan

Efforts to rescue and repair the economy in response to the current crisis can and should be aligned with the UK's legislated target of net zero emissions by 2050 at the latest.’

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