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

John Greenwood: FSA should stop meddling on consultancy charges

For the moment the FSA is sticking to its line that consultancy charges that take overall contributions below the auto-enrolment minimums are not permitted.

Herbert Smith, Nabarro lead on £300m sale of BNP Paribas Real Estate City base

BNP Paribas' new St Pancras base purchased by insurers AXA

FSA bans adviser for false references

The Financial Services Authority (FSA) has banned a financial adviser after he gave false references from a previous employer, from which he had been dismissed for dishonesty.

RPC and Freshfields advising on latest Barclays litigation

Freshfields is advising Barclays with a team headed up by London disputes partner Simon Orton, alongside Ewan McQuater QC, David Quest and Sandy Phipps from 3 Verulam Buildings.

FSA hands out life ban to HBOS director

Former HBOS executive Peter Cummings is to be hit with both a £500,000 fine and a lifetime ban from the industry.

FSA proposes tough new rules for non-UK banks

Regulator says costs to implement measures to protect UK savers could costs US banks alone more than £1.1bn.

RBS, others sue Dubai Group over $10 billion debt

Royal Bank of Scotland and two other banks have begun legal proceedings against an investment vehicle owned by Dubai's ruler, seeking immediate repayment after abandoning talks to restructure $10 billion in debts.

Feuding Dutch Politicians Agree on Toughening Bank Rules

“We would hand the bill to the banks, who caused this crisis”

Fund managers hit out at regulation in IMA survey

Survey raises fears of protectionism and complexity for providers and investors.

UK banks could be shut down or forced into bail-outs by Brussels

The moves stem from proposals for a eurozone "banking union".

Insurers face 'fallout' from banking scandals, says Lloyd's of London chief Richard Ward

'The 2008 financial crisis was not an insurance crisis, it was a banking crisis'

Special tax unit takes extra £500m from UK's richest people

The taxman has extracted an extra £500m from Britain’s richest people thanks to a special unit set up three years ago to target “high net worth” individuals.

Vatican hires Liechtenstein's former top anti-money laundering expert

For eight years he was the director of Liechtenstein's Financial Intelligence Unit, the department which gathers and analyses information used by police to combat money laundering, organized crime and the financing of terrorism.

Firms face six-month wait for FSA approval

Financial services start-ups waited nearly six months for FSA approval in the first quarter of 2012, data obtained by Reynolds Porter Chamberlain has revealed.

Freshfields and Simmons raid Weil Gotshal and Linklaters for Paris partners

Freshfields Bruckhaus Deringer and Simmons & Simmons have both raided rival Anglo-Saxon firms for partners in Paris.

Linklaters pips Freshfields in China Gold pitch amid African Barrick talks

China Gold is a new client for Linklaters, which has made a successful push to win outbound work originating in the country.

Liechtenstein Eyes Tax Data Exchange With Germany

Liechtenstein is currently considering the idea of concluding a withholding tax agreement with Germany, providing for an automatic exchange of tax information.

Don't ditch Libor, IMA urges

The Investment Management Association (IMA) has called for the inter-bank borrowing rate Libor to be reformed and kept, rather than replaced with a new benchmark.

BlackRock fined £9.5m by FSA

“This is not the first time we have seen the impact on client money overlooked as part of a re-organisation. The fine imposed today should remind all firms of the critical importance we place on ensuring proper protection of client money at all time

Cadwalader Adds Veteran Restructuring Attorney to London Office ‎

He began his tenure at Linklaters as a trainee solicitor in 1999 before being promoted to associate solicitor in 2001.

Legal, Regulation & Compliance