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

Court cuts jail sentence of ex-Bank of Italy boss

A lower Italian court had initially sentenced Fazio to four years but that verdict was eased because some of the charges had lapsed due to the statute of limitations.

UK tells banks to display deposit protection rules

The regulator said the move is part of a long-term initiative to improve battered public confidence in banks.

FSA bans and fines hedge fund CEO £3 million

The City regulator is seeking to impose a lifetime ban and a £3m fine on the manager of a $550m hedge fund for allegedly lying to investors in the months leading up to the fund’s 2009 collapse.

UK firms prepare applications as Singapore announces new QFLP licences

The government of Singapore is inviting more foreign law firms to apply for Qualifying Foreign Law Practice (QFLP) licences and will start accepting applications from 1 July.

Former security chief at Lloyds Banking Group faces fraud charges‎

A former head of fraud at Lloyds Banking Group has herself been charged with a £2.5m fraud, causing blushes at the part-nationalised bank.

Tax could cost UBS up to 10 percent of Europe assets

Zeltner said UBS had assets under management of over 300 billion francs in Europe, over 170 billion francs in Asia, around 110 billion francs in emerging markets and 130 billion in Switzerland.

US groups have a head start in UK post RDR

In the US, a gradual shift away from a commission model for advice started about two decades ago, triggered in part by brokers – employing financial advisers – keen to gain steady fee revenues rather than commissions on individual transactions

FSA 'powerless' over JP Morgan

Because JP Morgan's businesses are branches, UK authorities have only limited powers to act, with almost all authority resting with US watchdogs located more than 3,000 miles and several time zones away.

Ireland’s oldest stockbrokers ordered to cease trading

The Central Bank alerted the firm last Thursday evening and has since ordered it to stop all regulated activities.

JPMorgan Portends the Coming Global Bank Crisis

Nearly four years after the banking system teetered on the verge of collapse, how much risk is being accumulated on the books of the surviving giant institutions? And what happens if we tiptoe back to the brink once more?

Fraud, recession plague global businesses: PwC survey

The study, which was carried out among 1,530 executives from 16 different industries and 64 countries, identified organisational and cultural resistance as the most common barriers to internal audit's ability to step up and meet stakeholders' in

Swiss bank surveillance gets tougher

Finma was established in 2009 shortly after UBS was bailed out by the federal government. Its activities cover the entire financial industry.

Global law firm appoints M&A partner in London

He joins Jones Day from the London office of Dewey & LeBoeuf.

City watchdog reform clears hurdle

Treasury Financial Secretary Mark Hoban told MPs the old system, put in place as one of Gordon Brown's first acts as chancellor, had failed.

Credit Suisse’s Spencer: RDR will give UK a competitive edge

The UK’s financial services industry will have an advantage over the rest of the EU following the implementation of the retail distribution review (RDR), says Credit Suisse’s Matthew Spencer.

Spain Court Closes Botin Family Tax Case Without Charges

Spain's National Court said Tuesday it has shelved an investigation into potential tax evasion against Banco Santander SA (STD) Chairman Emilio Botin and his family without pressing any charges.

Linklaters named European tax firm of the year

Linklaters has been named European tax firm of the year by International Tax Review, at its seventh annual European Tax Awards ceremony, held on 16 May, at The Dorchester Hotel in London.

Linklaters overhauls international board with seven new members

Linklaters has overhauled its international board, with partners electing seven new members to represent both regions and practice groups on the firm's main oversight body.

CC and A&O take top roles on Man Group hedge fund takeover

Clifford Chance and Allen & Overy have advised on Man Group’s takeover of $8bn (£5bn) hedge fund Financial Risk Management (FRM) Holdings.

UBS traders fined £1.3m for unauthorised trading

UBS rogue traders Sachin Karpe and Laila Karan have been fined £1.3m and banned from working in the City for carrying out billions of pounds of unauthorised trades.

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