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

UK banks face week of hunger strikes and protests

Action will take place against Clydesdale, Danske and Lloyds over alleged mis-sold loans

Mourant advises on US$274 million takeover

The acquisition of Toro was undertaken by contractual takeover under the Companies (Guernsey) Law, 2008.

The SM&CR – what is it and why do we need it?

Based on this recommendation, Parliament passed legislation in December 2013 that prompted the primary regulators of the financial services sector, the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), to implement a Senior Mana

SMCR: A new era for international compliance

All of this puts current international heads of compliance in an interesting position. Accept responsibility they can't realistically adopt (or don't want to) - or hand over the head of compliance title to someone who will, or who feels they ca

British citizens born in US risk having UK bank accounts frozen

Britons who left US as children being chased by their banks for a US tax ID they do not have

Russian government poised to seize £4.5m Perthshire estate as Putin moves to claw back assets

The eight-bedroom baronial house is now part of a complex international web of property and business assets at the centre of attempts by Vladimir Putin’s regime to claw back interests linked to Mints.

Private Equity In Ireland 2019

A noticeable trend over the last 12 months has been the increase in the number of secondary buyouts which historically had not been a common feature of the Irish PE landscape.

Deutsche Bank to Pay $16.2 Million in `Princeling’ Bribery Case

Deutsche Bank employees created false books and records that concealed corrupt hiring practices, according to the SEC.

Qatar-controlled bank investigated by UK over money laundering

Al Rayan has come under scrutiny after it was revealed some clients have links to terror and extremist groups, including the Muslim Brotherhood and Hamas

Brussels eyes €100B wealth fund for ‘European champions’

Brussels gets serious about protecting its businesses against the likes of Apple and Alibaba.

CMA orders RBS and Santander to fix PPI breaches

The CMA has today taken action against RBS and Santander after they failed to send, or sent inaccurate, annual PPI reminders.

Global law firm's private client practice taken over

David Tait, Managing Partner for Clyde & Co Scotland said: "Gillespie Macandrew is an excellent fit for Nikki and her team and allows them to carry on providing high quality private client work for their clients."

Luxembourg: Draft law to implement ATAD 2 released

The draft law largely follows the wording of the ATAD 2, but also addresses concerns raised by the marketplace and provides useful additional clarifications and examples in the commentary.

FCA warns on 'unacceptable' advertising by CMCs

‘Firms should also understand that we will take their compliance with our rules on financial promotions into account when considering applications for full authorisation.’

Fund rebates ruling against Hargreaves pits HMRC against FCA

The ‘alphabet soup’ of superclean share classes set to continue under court decision

Danish regulator prepares report for police on Danske overcharging

The FSA said in June it was investigating the bank for failing to inform customers that it expected a poor performance from its Flexinvest Fri investment product, and for continuing to sell it to new customers.

Norway watchdog finds DNB failed to comply with anti-money laundering rules

The FSA found improvements had been made since an earlier review in 2016 by DNB, the Nordic region’s biggest bank by market value, but said the lender still had significant shortcomings and had taken too long to start to rectify earlier problems.

Barclays current account customers hit by most internet banking incidents

Rules require banks to report incidents to the regulator if they meet certain criteria

Warning over fraudsters targeting SVS clients

Now clients of SVS have been warned a fraudulent letter is circulating claiming to be from the company's special administrators.

Maltese regulator to limit CFDs harm to retail investors

After Esma’s temporary restrictions on sale of contracts for difference

Legal, Regulation & Compliance