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

Coronavirus: Big banks stop shareholder dividends until the end of 2020

The Bank of England also expects them not to pay cash bonuses to senior members of staff.

Will the end of (L)IBOR be delayed?

In 2018 alone, LIBOR-based transaction underpinned nearly USD200-trillion in outstanding volumes of USD LIBOR contracts.

Standard Chartered Fined for Violating Russia Sanctions

The bank identified and reported the alleged sanctions violations to authorities and took remedial steps following the breach, Standard Chartered said in a statement Tuesday.

Regulation: For AML, fintech is both problem and answer

The UK’s Financial Conduct Authority is particularly enthusiastic about using technology to fight money laundering.

Luxembourg regulator suspends Rothschild ex-CEO for ten years

The bank said in its 2017 annual report that it had paid the fine after the CSSF had notified it of a possible fraud involving former Malaysia Prime Minister Najib Razak’s 1MDB investment fund.

UniCredit says top managers to forego entire 2020 bonus pay

Both UniCredit and Intesa this week put on hold dividend payments to comply with regulatory calls to preserve capital.

Fighting Fraud and Corruption Locally

This strategy is an important step in helping councils share and co-ordinate their response to fraud, as only by working together and continuing to innovate can we begin to take positive action against the fraud and corruption that is so corrosive to soci

Intertrust in Sweden announces collaboration with Altor Fund Manager

Altor has leading international institutional investors that have committed a total of EUR 8.3 billion to all Altor Funds.

Launch of Strategic Capacity Scheme

The Isle of Man Government will be offering a tiered range of financial support, based on average revenue per room and occupancy rates

Treasury Minister Provides Update on Measures Being Taken to Protect Manx Economy

Minister Cannan said: ‘Since I spoke a week ago today, events have happened at a rapid speed and we have, to all intents and purposes, closed down large parts of our domestic economy.

Guernsey legal and regulatory update

Guernsey's Revenue Service has introduced an online service for companies completing and submitting their corporate tax returns.

Pension investment advisor banned

Wolverhampton financial advisor has been banned for 8 years after firm provided poor pension investment advice resulting in clients losing £7 million

Working Through the Lockdown

In both social and business environments this is a community event being faced as a community.

Government change to inflation measure set to reduce lifetime pension income by up to 21%

A 65 year old pensioner in 2020 could receive up to 21% less per year in a DB pension by the age of 90

COVID-19: FCA updates webpages on short selling bans, SCA, and information for firms

The International Association of Insurance Supervisors (IAIS) has published the March edition of its newsletter.

Weekly Tax Brief

HMRC is to extend the soft-landing period granted under Making Tax Digital for VAT, giving businesses until April 2021 to ensure a clear digital audit trail is in place throughout their VAT return process.

Banks around the world are suspending loan repayments as coronavirus hits borrowers

Small and medium-sized firms can defer principal payments on secured term loans also up to the end of the year.

Regulatory measures for firms in response to Covid-19

The PRA welcomes the decisions by the boards of the large UK banks to suspend dividends

Regulator permits three-month pension transfer freeze

Some schemes may have also experienced an increase in demand for CETV calculations which would place additional strain on administration teams.

UK banks expect regulator to order dividend freeze

Action likely this week to shore up lenders’ capital levels for coronavirus outbreak

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