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

FCA scrutinises DFM feedback amid SDR extension rumours

The FCA has promised to set out next steps ‘shortly’ on talk that wealth managers will be given an extension to the December deadline.

Anti-greenwashing: UK firms gearing up for new FCA rules and guidance

Moreover, wealth managers, planners and financial advisers must also ensure that, when engaging with clients, the sustainability-related claims they make are clear

European Banking Authority Refines Market Risk Rules

These changes stem from the need to align the existing RTS, which were developed under CRR2, with the new provisions introduced in CRR3.

The EBA sets 2025 priorities for resolution authorities and reports on the progress achieved in 2023

The 2025 EREP priorities confirm and complement the areas of focus set for 2024

European Commission adopts Regulatory Technical Standards on the ELTIF Regulation

The Commission's adoption of the RTS follows a public consultation and ESMA's final report on the draft RTS in 2023.

ESMA recognises CDS Clearing and Depository Services as Tier 1 CCP following MoU with the British Columbia Securities Commission

On 8 August 2024, ESMA recognised CDS Clearing and Depositary Services Inc. (CDSC) as a Tier 1 CCP under Article 25 of EMIR.

Inflation rise a reminder of the difficult job facing BoE

The good news is that these figures are slightly better than the market anticipated, which the BoE will be very pleased to see.

Isa rule changes have made little difference, IFAs say

Opinium global head of financial services research Alexa Nightingale said: “The change in Isa rules came into force in April this year, but appears to have made little impact on savers’ behaviour.

7.3 million UK adults targeted by pension scammers

Half of survey respondents agreed that scams are becoming more sophisticated and difficult to spot.

The EBA responds to the European Commission’s Delegated Act postponing the application of the market risk framework in the EU

In that context, the EBA also clarifies that the points it made in another no-action letter on the same topic issued in 2023 should remain applicable.

Finma has gone too far, says Swiss Blockchain Federation

Swiss Blockchain Federation says Finma’s approach to stablecoins will make it impossible for Swiss issuers to participate in the market.

The EBA amends technical standards specifying the data collection for the 2025 benchmarking exercise

Therefore, both the content and the sample of banks for the data collection in the area of market risk remain the same as in the 2024 exercise.

German Federal Fiscal Court Confirms Tax Treatment of Carry Income as Disproportionate Profit Allocation

Historically, the beneficial taxation was acknowledged by German tax authorities strictly within the limits of Section 18

Renewed concerns over state pension errors as LCP launches tool

This comes after former pensions minister and LCP partner Steve Webb identified a new group of cases where DWP appears to be making errors.

HMRC issues new ‘nudge letter’ to crypto owners suspected of failing to pay correct tax

Accountancy firm BDO wants that this letter is targeted at those the tax authority knows have ‘disposed’ of crypto assets

LGT Capital Partners expands its semi-liquid open-ended solutions with two private equity and private credit vehicles

The open-ended private equity strategy invests through diversified portfolios of secondaries and co-investments.

The EBA publishes results from its first fact finding exercise on creditworthiness assessment practices of non-bank lenders

The EBA will continue monitoring the activities of NBLs through its biennial Consumer Trends Report

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