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

MFSA's new anti-money laundering team probes 25 fresh cases

Of 105 cases opened last year, 25 related to money laundering

HMRC given red card in IR35 case against football referees

The rule was first introduced in 2000 by then-chancellor Gordon Brown as an anti-tax-avoidance rule that applies to all contractors and freelancers who don’t fall under HMRC’s definition of being self-employed.

Luxembourg introduces state guarantee scheme for new bank loans for a maximum period of 6 years

The Law also provides for the remuneration of guarantee ranging from 25 basis points for a maturity date of 1 year for small and medium size companies up to 200 basis points for a maturity of six years, for large companies.

U.K.’s FCA Considers Head of Hong Kong Watchdog as CEO, Sky Says

Alder has been head of Hong Kong’s Securities and Futures Commission since 2011, and will step down when his contract expires in September.

EU Executive Proposes Anti-Money Laundering Body

One influential EU lawmaker said it should be a new agency not part of the European Banking Authority.

Deutsche Bank debuts virtual fair with Frieze partnership

The two parties will also present a virtual event with UK performance artist Tom Pope called “Deutsche Bank Collection Live”.

At World’s Biggest Wealth Fund, Top Hire Slammed by Watchdog

“It’s unfortunate that this wasn’t clarified before the appointment,” the council said in a letter to Norges Bank’s Executive Board.

Greybull and Apollo weigh up swoop for Virgin Atlantic

'A dozen or so' interested parties are circling Sir Richard Branson's struggling airline

Legal fight looms over Hargreaves Lansdown's role in Woodford fund

The claim is against HL's promotion of Woodford Equity Income ahead of its closure in June last year

Pension pots worth around £19.4bn unclaimed due to house moves

The government predicts there could be as many as 50 million dormant and lost pensions by 2050.

Jersey poised to launch lockdown exit strategy – but what can UK learn from islanders?

Jersey’s Chief Minister next week expected to make announcement that will see ‘soft lockdown’, which will ease restrictions on island

FCA suitability review pushed to 2021

The watchdog began quizzing advisers on their retirement income advice records at the beginning of this year, sending information requests to 125 randomly selected advice firms.

UK regulators publish Regulatory Initiatives Grid

The regulatory initiatives are categorised as either being generally applicable to all firms or impacting certain types of firm.

Financial Services Regulatory Initiatives Forum launches Grid to help financial firms’ planning

The High Court has handed down judgment in The Financial Conduct Authority v Skinner & Ors [2020] EWHC 1097

CJEU rules that Italian financial transactions tax is compatible with EU law

The tax is levied by intermediaries involved in the transactions.

Financial crime systems and controls during coronavirus situation

Discover our expectations on how firms should apply their systems and controls to combat and prevent financial crime during this crisis.

FCA secures orders for victims of unauthorised share scheme

'The FCA is able to take punitive and remedial action in some cases but the best protection is to avoid these types of offers completely.'

Beneficiary Disputes in Focus

By far the most significant proportion of trust companies surveyed thought that the principal source of beneficiary disputes was disharmony amongst the beneficiary group (64%).

New allegations against Juan Carlos

As part of the administrative assistance, the latter sent its findings about Juan Carlos' secret account to the Spanish national court, which is investigating suspected money laundering, tax evasion and corruption.

Forum launches regulatory timetable grid early

The grid provides a timetable for major regulatory initiatives.

Legal, Regulation & Compliance