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

Activist investors more likely to target poor ESG performers

The issue is that while it is hard to find an executive or investor who would be unwilling to pay lip-service to these factors, real change on the matter of ESG remains slow.

Amundi and EIB’s green bond programme hits €253m

Public-private partnership supports small-scale green projects

Supreme Court Rules on Time Limits for Bringing Claims in Part-Time Judges' Case

The judges brought their claims on the grounds that their terms of office were discriminatory compared to full time judges in not including provision for a future pension.

ECB urged to end secrecy over policy votes

Italian central banker says publishing individual opinions could increase transparency

Remarks by Mark Carney at Benoît Cœure’s leaving reception

Speech given by Mark Carney, Governor of the Bank of England

High Court upholds strike out of claim based on allegation a financial institution breached fiduciary duties as a shadow director of its customer

The decision will be of particular interest to financial institutions involved in turnarounds, restructurings and the exercise of control, management or similar rights arising upon default under facility agreements.

Watchdog chases firms over money laundering rules

Earlier in the year the regulator had asked 400 firms to complete risk assessments to demonstrate

The Russian Federation's measures to combat money laundering and terrorist financing

Russia recognises that it faces significant money laundering risks as a result of the proceeds of crimes committed within the country, in particular those related to corruption and its role as both a transit and destination country for narcotics trafficki

Beacon Wealth Legal shortlisted in Modern Law Awards

The award Beacon Wealth Legal have been shortlisted for is ABS (Alternative Business Structures) of the year.

Carey Olsen secures double shortlisting at Citywealth's Magic Circle Awards 2020

In respect of its shortlisting for the UHNW Private Client Services Innovation of the Year category, Carey Olsen has been specifically recognised for the growth of its Bermuda office and its offering in the fintech sector.

Bank of England consults on its proposals for stress testing the financial stability implications of climate change

The Bank of England has published a discussion paper which sets out its proposed framework for the 2021 Biennial Exploratory Scenario (‘BES’) exercise.

ESAs publish joint guidelines on AML/CFT cooperation and information exchange under MLD4

The Guidelines also include provisions to structure supervisory cooperation in situations where the conditions for setting up an AML/CFT college are not met.

Asian financial firms face 'benchmark-aggedon' as tough EU rules near

Organisations that compile and publish market indexes outside the European Union were in February given an extension to the end of 2021 to comply with the EU’s benchmark regulation.

Ogier advises on Dream Global transaction

Dream Global Real Estate Investment Trust is the owner and operator of a diversified high-quality portfolio of office and industrial properties located in key markets in Western Europe with a focus on Germany and the Netherlands.

FCA and Bank of England statement on joint review of open-ended funds

The FCA will use the conclusions of the review which will be released in 2020 to inform the development of the FCA’s rules for open-ended funds.

FCA asks for proposals on how open finance could transform financial services

The CfI will launch a discussion on the opportunities and risks arising from open finance, what is needed to ensure it develops in the best interests of consumers, and what role the FCA should play.

FCA fines PPC for misleading consumers and banks in first CMC case closed by the regulator

PPC also failed to present accurate, fully formed, detailed and specific complaints to banks.

FCA secures confiscation order totalling £5 million against illegal money lender

This follows the FCA’s prosecution in which Mr Gopee was convicted of illegal money lending and sentenced to 3 and a half years in prison.

CSSF guidance on persons involved in AML/CFT for Luxembourg regulated funds and investment fund managers

This article of the law requires the appointment of two AML/CFT functions

EU to roll out sanctions against blacklisted jurisdictions

The Finnish presidency confirmed that the four sanctions have been approved by EU member countries and will be automatically agreed to at the opening of the Council of Ministers meeting.

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