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

Ex-Manulife financial adviser gets 12 year ban over S$1.2m ‘fictitious investment’ transfer

The banning order was issued following Ong’s conviction in the State Courts for cheating offences

FCA charges man with fraud over £2.7m investment scheme

Maggs is alleged to have operated an unauthorised investment scheme called 'Kube Trading'

What’s next? Bulk annuity insurers – Regulatory developments − speech by Lisa Leaman

Given at Westminster and City’s 21st Annual Conference on Bulk Annuities

FCA is keeping close eye on systemic risk following private equity fears

As high interest rates raise the risk of losses for banks and the private equity sector is heavily reliant on debt, regulators are stepping up their scrutiny of private equity markets.

Calls for urgent reform of LoA process after report reveals wasted cost

The LoA is a gateway process for individuals navigating financial advice or pension transfers

How have financial firms adapted with Consumer Duty implementation?

The Consumer Duty regulation has already shown it will have a long-lasting impact

FCA proposes extension of the SDR regime to portfolio managers

The proposals to extend the regime are primarily aimed at wealth management services for individuals and model portfolios for retail investors.

FCA extends SDR rules to portfolio managers

This will include model portfolios, customised portfolios and/or bespoke portfolio management services.

50% of Emea firms seek clearer AML regulations

Despite the digital push, 35% of respondents see skilled staff as vital for effective AML compliance, hindering digital tool adoption that could boost the detection of suspicious activities.

Retirement advice review will see more advisers outsource solutions

In response to the FCA’s review, Brooks Macdonald and The Verve Group published a retirement income whitepaper to help advice firms translate the FCA’s guidelines around building a central retirement proposition.

‘Big Tech a priority’ says FCA Chief Executive

Currently, Big Tech firms can access financial services data through Open Banking but are not required to share their data with the financial industry.

Commerz Real implements solar projects in Sweden

Klimavest is invested in solar and wind farms in Germany, Finland, France and Spain.

FCA confirms anti-greenwashing guidance and proposes extending sustainability framework

The new rule is designed to protect consumers by ensuring sustainable products and services they are sold are accurately described.

EU leaders call for strengthening the EU’s competitiveness

To improve the competitiveness of EU companies we also need to further reduce the cost of energy.

Culture in financial services still needs to improve to better serve women, says FCA

Women will control 70% of global wealth within two generations.

ESAs consult on technical standards for joint examination teams under DORA

The proposed technical standards take into account the high technical complexity of the oversight activities and the scarce availability of the expertise needed to perform them.

Independent audit confirms that the loans are granted correctly

The audit report confirms the regularity of the lending and classifies the bank's credit policy as conservative

Neil Woodford turns finfluencer

It warned it was considering regulatory action.

Generali: a new organizational structure for an integrated insurance and asset management group

Starting from June 1st 2024, the Generali Group will operate as a diversified financial group focused on two main businesses: Insurance and Asset Management

Andy Cole and other ex-footballers join scam victims in HMRC campaign

Campaigners call for an end to the taxman’s perceived harsh tax collection tactics as victims of financial misconduct recount sleepless nights waiting for tax bills.

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