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

Investment manager under investigation by FSCS

FTAdviser understands that the FSCS is in the early stages of investigating whether there are any claims against the firm that meet the qualifying conditions for FSCS compensation.

EU updates broaden availability of private strategies

Regulation changes open managers' long-term funds to more investors

The MFSA’s Supervisory Priorities 2023

Consumer Protection and Education - follow ups on supervisory inspections undertaken during 2022 on license holders to ensure all MiFID II requirements are satisfied.

WTW advises Swiss pension funds to review asset managers due to banking turmoil

Banking sector shockwaves mean pension companies should ‘make any changes deemed necessary’.

ECB welcomes expert group recommendations on European banking supervision

The report acknowledges that European banking supervision has made good progress in ensuring that banks maintain sufficient capital levels and notes that the current level of capital requirements for supervised banks looks broadly adequate.

Exchanges and asset managers square off over EU market rules

Exchanges, which earn money from market data, say parliament is going beyond transparency to give investors a trading tool

FCO one step closer to obtaining unprecedented intervention powers following governmental approval of draft German competition law reform

The draft will now enter the legislative procedure.

Is the UBS-Credit Suisse Deal on the Brink of Collapse?

By taking that route, approval through an extraordinary session of parliament was to have been a formality.

IMF: Stress test of shadow banking could hinder sector regulation - reports

‘Distorted picture'

EU watchdogs eye changes to Sustainable Finance Disclosure Regulation

Comments wanted by 4 July 2023

CySEC imposes a fine of one million euro on Itrade Global (Cy) Ltd

Penalty issued over company’s failure, among other, to implement policies and procedures to monitor the activities of its Tied Agent in Spain

Guidance Note: A Look Through the Obligation of Transaction Monitoring

The ultimate goal remains that of minimising the risk of illicit funds entering the Maltese economy, thus safeguarding the integrity and stability of the financial system.

Norway wealth fund employee sues for workplace gender discrimination

The central bank, which pushes the firms it invests in to have more women on their boards and to combat all forms of discrimination, denies the allegations.

Swiss Re shareholders approve all proposals at 2023 AGM

Shareholders approved the re-election of Sergio P. Ermotti as the Chairman of the Board of Directors.

British Steel pension redress scheme legal challenge dropped

This challenge has, in our view, been pursued unreasonably with little intention to go to trial so we are also pleased BSAG has agreed to make a substantial contribution to our costs.

PRA fines the former Chief Information Officer of TSB Bank plc for a breach of the PRA’s Senior Manager Conduct Rules

The PRA has fined Mr Carlos Abarca, the former Chief Information Officer of TSB Bank plc, for breaching PRA Senior Manager Conduct Rules.

'DWP must ensure small pension pots disruption is in savers' best interest'

Each of these options could consolidate small sub £1,000 pots but either of the proposed small pots solutions has the potential to consolidate much larger pots, potentially until savers have only the active pot.

FCA orders WealthTek Limited Liability Partnership to cease operations as High Court appoints Joint Special Administrators and arrest made

The FCA is in close contact with the Joint Special Administrators and further information will be made available by them in due course.

FCA and ASA team up with Sharon Gaffka to warn fin-fluencers of risks of promoting illegal ‘get rich quick’ schemes

Influencer agents and the Influencer Marketing Trade Body will be invited by the FCA to an open roundtable discussion on illegal financial promotions.

Employer Compliance – Spring Statement 2023 update & Reporting Employment Related Securities

Currently employers are required to notify HMRC within 92 days of grant – a deadline which can easily be missed but which HMRC take very seriously.

Legal, Regulation & Compliance