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

FSCS to pay out £6m over collapsed DFM Strand Capital

In its 2018/19 business plan the FSCS noted in the past it has paid out large amounts over investment firms which have gone into default.

HSBC shells $100 million to resolve front-running charge

In total, HSBC admitted to making profits of approximately $38.4 million on the first transaction in March 2010, and approximately $8 million on the Cairn Energy transaction in December 2011.

Italian banks urge EU to relax rules on salary-secured loans

Industry sources estimate the proposed change to regulations introduced in 2014 would cut the combined amount of capital Italian lenders need to set aside by almost 1 billion euros

Charles Russell Speechlys announces partnership with Aspiring Solicitors

As part of the partnership, Charles Russell Speechlys will run a number of events for Aspiring Solicitors members over the next three years

FCA January 2018 regulation round-up

Herbert Smith Freehills - Financial regulation update

House of Lords rejects public beneficial ownership registers for overseas entities

The UK’s House of Lords yesterday voted down a proposal that would have called for all overseas territories to implement a publicly-accessible register of beneficial ownership by 1 January, 2020

Private client law giant snaps up sports specialist

The acquisition coincides with the law giant’s appointment of Darren Bailey, the former director of football governance and regulation at the Football Association, as a consultant.

Tax Risk Update January 2018 - Farrer & Co

Our job will be to work with clients to find out whether what they are doing, or what they have done, has a tax consequence which could be open to challenge.

BoE: FinTech in 2018-2020

Herbert Smith Freehills - Financial regulation e-bulletin

Europe’s central banks pile into yuan

The role of the yuan has increased steadily since the International Monetary Fund included the currency in its Special Drawing Right basket from October 2016

STM agrees to Deloitte probe

STM Group has agreed to cooperate with the regulators and allow auditors Deloitte to probe its books.

Mario Draghi told to drop membership of secretive bankers' club

EU ruling follows claims G30 group has too much influence with ECB president as member

Carillion Collapse - shudder in industry - Anderson Strathern

Any sub-contractor, as an unsecured creditor, will no longer be able to pursue or enforce their own claims against the liquidated company.

Credit Suisse: Nail-Biter in Geneva

Credit Suisse is bracing for a tough couple of days in Geneva, where a former banker is standing trial for embezzlement

Natixis IM joins quant arms race with asset expansion

Natixis is the latest asset management giant to boost its quant capabilities as many of France’s largest groups have accelerated the growth of assets managed through quant and passive strategies.

Polish regulator refuses Raiffeisen's plan to start new bank

In November RBI said it planned to carve out the FX mortgages portfolio and eventually take it over.

Vultures already circling Carillion DB pensions

“One in six (17%) pension holders in the UK have been contacted by a company – other than their provider – to discuss making changes or transferring their pension.

Expats win 10-year battle with Spanish bank over failed investment project

Lawyers for the bank also claimed the time limit to file a lawsuit was one year, according to the report.

Barclays trader charged with fraud by US authorities

“Robert Bogucki and others allegedly not only betrayed his client’s confidences, but also risked undermining public trust in the foreign exchange options market,”

Basel III: some banks will lose out

Regulators are concerned that banks have downplayed the risk of mortgages in their risk models

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