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

Regulators hit Barclays with £290m fine

The watchdog said this was the largest fine it has ever imposed

Mayer Brown London chief defeats finance head to retain top job

Mayer Brown’s London senior partner Sean Connolly has been re-elected to serve another five-year term, defeating London banking and finance head Dominic Griffiths.

Former Dewey partners gear up for tax bill battle

Former partners of Dewey & LeBoeuf’s London base are attempting to minimise their financial blow from the US firm’s collapse by using its 2012 losses to slash their tax bill

Asset managers face challenge of Solvency II

ASSET managers face a culture shock following the implementation of the European Union’s Solvency II directive, according to research released yesterday by KPMG.

Former ABN banker sues for 'gay Irish gypsy' slur

The married father of two, of Irish descent, claimed colleagues refused to speak to him because he was not Dutch.

Standard Life to unveil RDR propositions in October ‎

The provider said the changes to charging on its FundZone proposition and self-invested personal pension (SIPP) - which have been emailed to advisers Friday - would create both a smooth transition to RDR readiness and enhance its overall proposition.

FSA demands UCIS activity update‎

The FSA said it has identified a significant increase in Ucis transactions in the last four years, and has asked around 250 firms’ for details on the systems and controls they have had in place since 1 January 2008.

Watchdog alarm as property investors breach the £1bn barrier with pricey bridging loans

In the past year, the number of people taking bridging loans has nearly doubled, with estimates suggesting gross lending breached the £1bn barrier in March this year.

Rate swap scandal: FSA review to reveal evidence of serious misselling

Banks are braced for a formal regulatory investigation into how thousands of small and medium-sized businesses came to be sold billions of pounds worth of complex interest rate derivatives.

Towry’s Fisher named in film scheme investigation

Analysis by The Times indicates there are around 2,000 members of film and music schemes under inquiry by HMRC.

Ireland fines UBS for lack of controls

The €65,000 penalty handed out to the Swiss bank’s unit is part of Ireland’s broader effort to strengthen oversight of the banking sector after the financial collapse that forced the country to seek a €67.5bn bailout from the EU and

Linklaters UK real estate chief quits

Linklaters’ UK head of real estate Anne Byrne has resigned from the firm, just a month after the departure of three partners in May.

Towry in talks with lawyers and FSA over independence

Towry has sought legal advice and is consulting with the FSA over whether it will remain independent or move to a restricted proposition after the RDR.

German banker admits bribery in F1 case

A former German bank boss admitted on Wednesday receiving tens of millions of euros in bribes from Formula One mogul Bernie Ecclestone, breaking months of silence in the case.

FSA: financial services should not bear MAS costs

'The sequence of events, the increase of the levy from £20 million to £45 million, originated form the Thoresen Review, that we needed generic financial advice, and then a set of decisions from government that showed it did not want to pa

UBS, Kuwaiti royal square off behind closed doors

UBS has confirmed that Sheikh Meshal was invited to apply for a non-executive post at the bank. However, the bank has also claimed that it already had a strong relationship with Zain, having advised on many of its previous deals.

Commerzbank looks to overturn ruling

The bankers sued in the UK over their claims to a €400m pool announced in 2008 to help retain staff.

FSA refuses to reveal the identity of Mr X

Mr X, as the person has been referred to by tribunal, denied he owned an account with the UK-based UBS Wealth Management, called Customer A account, used by some UBS officials to make large-scale unauthorised transactions.

FSA reveals its latest executive pay and bonuses

The FSA has published its annual report for 2011/12, which sets out how the regulator has performed against its business plan for the year. It also sets out salary and benefits paid to FSA senior management.

Morgan Stanley looks to settle with nuns

Lawyers told a High Court judge in London that the bank had agreed a "provisional" settlement with investors.

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