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

Addleshaw Goddard Financial Services & Banking News

The FCA confirms that, in 2023, it continued to increase intervention activity in response to poor financial promotions compliance.

Mohammed Zina found guilty of insider dealing and fraud

He will be sentenced on Friday 16 February at 10am.

Mark Branson's Bafin threatens Deutsche Bank

However, the financial institution has now admitted that the improvements to the monitoring systems required by Bafin have only been partially completed.

FCA stops thousands of misleading ads and promotions

The FCA also published 2,285 alerts to help prevent consumers from losing their money to scams, up from 1,800 in 2022.

Sompo International secures primary insurance licence in France

The granting of the French primary insurance license not only supports the company’s strategic expansion but further strengthens our position in Continental Europe.

Appleby shortlisted for Chambers Europe Awards 2024

The awards recognise a law firm’s pre-eminence in key jurisdictions across Europe and also reflect achievements over the past 12 months including outstanding work, impressive strategic growth and excellence in client service.

Financial Services & Banking News

The LSB intends to publish shortly a timetable setting out how it will take forward and sequence these initiatives.

Aviva to pay client's tax bill after pension error

In an email seen by FT Adviser, the client was told that the “professionals” advising them “should have known” they are not eligible for an early retirement pension on the basis of the available information.

Regulator to stress test UK life insurers on reinsurance exposures

Insurers are entering into transactions to pass on a slice of their liabilities

Changes to FCA rules: Navigating Financial Promotions in 2024

Effective from 7th February 2024

EU seeks to clarify boundaries of cryptoasset regulation

ESMA is consulting on new guidelines which aim to shed light on key questions relating to MiCA’s scope and has also published guidance regarding transitional measures.

Court of Appeal in England drills down on term ‘incidental’ in tax cases

Relevant assets are defined as moveable structures used for drilling for oil or providing accommodation for offshore workers.

FCA bans and fines Floris Jakobus Huisamen over London Capital & Finance plc financial promotions

Financial promotions, signed off by Mr Huisamen, presented a misleading picture of the minibonds, making them appear a far more attractive investment than they were.

Two advice firms fail with the FSCS

The FSCS also confirmed it has received two claims so far against Frodsham Financial Planning Limited relating to home finance and pensions.

FCA gives lifetime ban to ex-LCF director

Between 2014 and 2019, LCF marketed speculative minibonds to retail investors. Over 11,000 investors lost more than £237m in the minibond scheme.

ECB publishes consolidated banking data for end-September 2023

The quarterly data provide information required to analyse the EU banking sector and comprise a subset of the information that is available in the year-end dataset.

GAP insurers agree to suspend sales following FCA concerns over fair value

The regulator will carry out a second tranche of engagement with the rest of the GAP market, with the aim of improving the value of the product across all firms.

Addleshaw Goddard: Financial Services & Banking News

Currently, EU law requires listed companies to disclose information about social and environmental risks and opportunities.

Blankstone Sington declared failed by FSCS following administration

The Liverpool DFM entered special administration in October 2023

Mind the gap(s): Inflation data and prospects - speech by Catherine L. Mann

The latest data for headline inflation surprized to the downside relative to what we had expected in November.

Legal, Regulation & Compliance