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

PRA statement on systemic risk buffers and Pillar 2A in stress test hurdle rates

The PRA has previously set out its expectations for firms’ stress test analysis in their ICAAP. T

ESMA Reminds UK-Based Regulated Entities About Timely Submission of Authorisation Applications

On 30 March 2019, firms must have a fully authorised legal entity located in the EU27 to continue providing services in the EU27.

Ex-Barclays Euribor trader Moryoussef convicted in absentia in Britain

Three of his co-defendants, however, face a possible retrial.

‘Dishonest’ bankers liable over Libya deal, judge rules

The law suit claimed that Mr Marino plundered the Libyan sovereign wealth fund for millions of dollars in secret commissions.

Nathalie Dauriac claims victory

Nathalie Dauriac became embroiled in a dispute with John Caudwell

IoM-based OMI and FPI hit back over class action threat

The lawsuit is being pushed by a claims manager and could be worth as much as £80m, according to a report in UK news outlet City AM.

FCA applies ‘Lamborghini test’ to adviser files

The goal of the FCA was to know if the adviser report gives “the colour and detail about the clients’ objectives, and how the solution meets those objectives,” he added.

The growing need for regulatory reporting change management processes

The increased emphasis on regulatory data requires a different approach to change management

Ex-Anglo Irish Bank chief given suspended sentence over unlawful lending

Drumm plead guilty to the 10 charges which involve the “Maple 10” businessmen

Senior Managers & Certification Regime - key implications for FCA firms

The SMCR allows someone to cover for a senior manager, without being approved by the FCA

FCA hits out at lengthy T&Cs

He said firms using consumers' data needed to engender more trust

SJP and Lifesearch sign up to gender diversity targets

The initiative comes at a time when women face many challenges in the market regarding how they are valued

Germany studying request to return €300mn to Iran

The report added that Iran had told the German Financial Supervisory Authority (BaFin) that it needed the cash from the accounts "to pass on to Iranian citizens who require cash while travelling abroad, given their inability to access recognized cred

Cayman gets support from Caricom on UK issues

The heads of government from the Caribbean Community member states backed that position during a conference last week in Kingston, Jamaica, voicing their own disapproval for the U.K.’s approach to the issue.

Lithuania Green-lights Remote FinTech Licensing

The bank’s move is another sign of Lithuania’s increasing importance as a tech hub.

Law firm Allen & Overy launches regulatory consulting business

Consequently, 69% of law firms see Deloitte, PwC, KPMG and EY as major threats to their market share, following successful forays into a host of other segments by the gang of four.

Bank queries appointment of Grant Thornton as Goldman auditor

Goldman Sachs has held discussions with Grant Thornton, the fifth largest audit firm by fee income in Britain, as the bank approaches a review of its audit relationship in the UK in 2022.

Objective of the Guernsey Green Fund

Any class of Guernsey fund can notify of its intention to be designated a Guernsey Green Fund whether registered or authorised, open-ended or closed-ended providing it meets the eligibility criteria

Old Mutual International under fire for allowing high-risk investments in offshore wrapper

It is understood some of the funds held within the wrapper have lost significant value, with the claims manager targeting Old Mutual International as the facilitator through the wrapper.

AC Milan owner fails to repay Elliott Management

Italian club close to being taken over by hedge fund that financed original deal

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