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

The EBA publishes its heatmap following scrutiny of the interest rate risk in the banking book

The heatmap discloses policy aspects that will be subject to further scrutiny, and corresponding actions in the short to medium and long term.

The Real Time Gross Settlement service: an open platform to drive innovation - speech by Victoria Cleland

Victoria Cleland describes how the Bank of England is enhancing its core payments infrastructure and policies in the light of the opportunities arising from innovation and new technologies in the payment landscape.

TLT completes acquisition for Aryza Group

Aryza is a global software and technology provider that specialises in delivering solutions for business across the credit and debt cycle.

Adepa agrees to acquire Fidupar pending regulatory approval

The acquisition will open opportunities in new markets for Adepa, such as France and Belgium, noted the announcement.

Individual charged with fraud over unauthorised investment scheme

He falsified documents in order to support some of his claims.

CP2/24 – Solvent exit planning for insurers

Consultation paper 2/24

Navigating tomorrow - Risk Management, Compliance and Financial Resilience

The top risks firms are most focussed on are ESG, regulatory change and market uncertainty.

Dutch activists sue ING: "Climate crisis banker" funds firms "that endanger our future"

ING reported in 2022 that it is responsible for the emissions of more than 61 million metric tons of greenhouse gases.

How EU’s latest AML laws impact HNWIs and property ownership

Renowned for their substantial wealth, these individuals now find themselves under intensified scrutiny.

FCA manager loses legal battle to work from home

Elizabeth Wilson, a £140,000-a-year senior manager, loses her appeal to work from home on a full-time basis at a Croydon employment tribunal.

Regulated firms failing to adopt open banking or verify source of funds manually

These concerning figures are from a 2023 SmartSearch survey of 501 compliance decision-makers across regulated firms in accountancy, property, finance and legal services.

Addleshaw Goddard: Financial Services & Banking News

The Government has also published explanatory notes accompanying the Bill.

Chancellor in Davos to champion British excellence in tech

Jeremy Hunt champions British science and tech in first visit to the World Economic Forum’s Annual Meeting in Davos, Switzerland from a UK Chancellor since 2019

BSPS payments hit £73mn as another advice firm defaults

The FSCS has so far paid £73mn in compensation to BSPS clients, against total losses of more than £106mn.

Bank of England may crack down on funded reinsurance

Higher interest rates in Britain have made it cheaper for corporate pension schemes to buy insurance, enabling companies to move pension risk off their balance sheets.

Enforcement Factsheet: A Compilation of Regulatory Actions – 2021/2022

Case studies are also included, providing subject persons with practical examples which should help in their day to day operations in combatting ML/FT.

Banks remain robust but higher interest rates could impact their asset quality, the EBA finds

Banks expect the asset quality to deteriorate as higher interest rates affect borrowers.

FCA to undertake work in the motor finance market

There have been a high number of complaints from customers to motor finance firms claiming compensation for commission arrangements prior to the ban.

ESMA explores risk exposures to real estate in EU securities markets and investment funds

In the study, ESMA provides details of the evolution of this sector over the past five years.

Six arrested over planned London Stock Exchange disruption

Six pro-Palestinian activists were arrested on Sunday

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Legal, Regulation & Compliance