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

Bank of London to create 230 jobs in Northern Ireland

Chief risk and compliance officer (UK) Stephen Bell has been appointed as the country head for Northern Ireland.

Directors of Scunthorpe headstone company banned

Husband and wife directors disqualified after taking customers’ payments while knowing the business was insolvent.

Regulator removes trustees and charity is wound up after trustee attempted to avoid business rates

The Commission has removed Achiezer from the register of charities, and removed two of the charity’s trustees.

US SEC’s decision to let MiFID II no-action letter expire could cause problems for both European asset managers and US brokers

The MiFID II regulations that came into effect in Europe in January 2018 unbundled trading and research and pushed almost all European asset managers into paying for investment research in cash.

UK Government proposes a new approach to regulating artificial intelligence (AI)

Businesses should also consider who is responsible for AI governance and risk management strategy within their organisation and prepare to align their internal AI strategy with the proposed principles.

Are pay rises the only option for employers wanting to support employees with the cost of living crisis?

The rising energy costs, ongoing supply chain disruption and labour shortages mean that many employers are simply not in a position to permanently raise wages enough to counter the impact of the cost of living crisis on their employees.

Latest developments in the banking & financial services sector - Addleshaw Goddard LLP.

The residual risk add-on (RRAO) is one of the elements that firms using the alternative standardised approach (ASA) to market risk, are required to calculate under the CRR.

Negotiating with government to do business is hard, especially when the rule of law is unclear

Negotiating with government, for example, to obtain visas, improve market access through trade agreements, or amend regulations is a cost for business and has unwelcome effects.

Changes to HMRC’s Trust Registration Service – do the new rules apply to you?

The deadline for affected trustees to register their trusts on the TRS is 1 September 2022.

Just two weeks left to register a trust with HMRC or risk a penalty

It is the responsibility of the trustees to ensure the trust is registered online by the deadline

Chambers Global Practice Guides - Private Wealth 2022

The guide provides information on 34 jurisdictions

FCA encourages market participants to continue transition of LIBOR-linked bonds

Publication of synthetic LIBOR settings will be for a temporary period only

Addleshaw Goddard: Financial Services & Banking News

As a result, the FCA will expect that firm to voluntarily apply to cancel its temporary permission and either enter supervised run-off to run-off its UK business (if eligible) or leave the UK perimeter.

Barclays’ ‘broken’ mortgage live chat service feeds misinformation

Legally, both have to be paid off at the same time. But I was wondering if we could stagger completion of the two charges.

A new regime for critical third party providers to UK financial services firms is on the horizon

Publication of DP22/3 marks an early step on the road to the introduction of a new designation regime for third party providers in respect of the material services they provide to the UK financial services sector.

FCA redress proposals ignore clients' best interests

So in that role of protecting consumers they must be considerate of clients' best interests, and what that means when unsuitable advice is given.

Businesses urged to set and report on purpose

Its vision is for all businesses in Scotland to “have become purposeful businesses which profit from finding solutions for people and planet” by 2030.

Addleshaw Goddard Financial Services & Banking News

The amended guidance, which has been approved by the JMLSG Board, has been submitted to HM Treasury for Ministerial approval.

Proposed DWP regulations on DB scheme funding will accelerate pension liability buy-outs and the demise of DB schemes

Mercer questions whether the accelerated demand could be met by current market participants

Advice firms with over 50 IFAs rose 17%

Firms providing restricted advice accounted for 37%.

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