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

Asset managers dodge 'systemic risk' regulatory bullet

Asset managers have dodged a regulatory bullet following a decision by US authorities’ that they do not pose a ‘systemic risk’ to the global financial system.

Dentons appoints White & Case EMEA strategic head as European COO

Dentons has hired White & Case’s EMEA director of strategic projects Richard Singer as its new European chief operating officer (COO).

Clifford Chance new leadership sees both finance and capital markets heads replaced

Clifford Chance managing partner Matthew Layton has appointed a new-look executive leadership group to replace its management committee following a dramatic overhaul earlier this month.

Eversheds comment: SEPA becomes fully operational in all eurozone countries

The European Commission’s view is that electronic payments in the Euro area should now be as easy as cash payments and it envisages that SEPA will greatly facilitate euro payments for citizens and businesses and increase competition between banks.

High Court delivers landmark ruling on staff poaching in broker row

Sunrise agreed to reduce his notice to six months followed by a further six month restrictive covenant

Sidley Austin and Linklaters lead on Bank of Cyprus €1bn capital raise

Sidley acted as international legal counsel to the Bank as it raised the mammoth sum through a private placement, which includes international fund managers led by US billionaire Wilbur Ross and the European Bank for Reconstruction and Development.

FCA finds firms fail to deliver best execution

Retail and professional clients are being failed by firms that don’t properly apply the rules on best execution when trading on their behalf, according to a review by the Financial Conduct Authority.

EU watchdog gives warns banks on retailing CoCos

Banks are under regulatory pressure to issue so-called contingent convertible bonds (CoCos) that can be converted to equity in a crisis to help provide a capital cushion and avoid calling on taxpayer help.

Brodies, Eversheds, Norton Rose Fulbright lose out as Clydesdale cuts panel

A group of six firms including Eversheds, Harper Macleod and Norton Rose Fulbright have lost their places on the combined Clydesdale Bank and Yorkshire Bank national panel.

Fortis successor Ageas must compensate misled shareholders -court

The court did not say how much Fortis should pay.

Boiler room conspirator ordered to pay £109k

All defendants were found guilty of conspiracy to defraud apart from Coleman who pleaded guilty to three counts of money laundering.

Financial Incentives for Whistleblowers - FCA

This note sets out our agreed conclusions.

Banking Regulators want bankers to accept criminal liability under new plans

Main City watchdogs want a new licensing regime for bankers, which could also see bonuses deferred by up to seven years

U.K. Ban Upheld on Hedge Fund Manager Alberto Micalizzi

Mr. Micalizzi was chief executive of hedge fund firm Dynamic Decisions Capital Management Ltd. and ran hedge fund DD Growth Premium Master Fund

European Central Bank’s opaque-asset review seen aimed at Deutsche Bank

As part of its review of 128 lenders, the European Central Bank is studying lessactively traded loans

Lloyds fined £218m over Libor rate rigging scandal

The firms were a significant beneficiary of financial assistance from the Bank of England through the SLS

Wragge Lawrence Graham & Co achieves turnover of £172 million

Wragge Lawrence Graham & Co's chief executive David Fennell said: "The merger consolidates our position among the UK’s top 25 firms and creates a strong platform for further growth and success.

Deutsche Bank, HSBC Accused of Silver Fix Manipulation

Deutsche Bank AG (DBK), HSBC Holdings Plc (HSBA) and Bank of Nova Scotia were accused in a lawsuit of rigging the price of billions of dollars in silver, an allegation similar to earlier suits involving the London gold fix.

London asset manager takes UBS to court

“The financial stakes in this dispute are very high, the parties having contemplated annual revenues of circa $200m once their venture was up and running,” Decura said in its written legal argument filed in court.

Lloyds to pay up to £300m Libor fines

Lloyds Banking Group is preparing to announce early next week that it will pay fines of £200m-£300m to US and UK regulators to settle allegations that the British bank manipulated major interest rate benchmarks.

Legal, Regulation & Compliance