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

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.

7IM: Third party model portfolios threatened by FSA rules

Sheridan, chief executive of 7IM, said that under the FSA’s paper on centralised investment propositions (CIPs) if an adviser puts a client in a DFM-provided model portfolio they need either discretionary authority or the client needs to sign an agr

Proskauer hires Dewey City steering group duo

All three partners were in the Dewey team acting for creditors of bankrupt financial derivatives broker MF Global, with this ongoing instruction cited as a cue for their decision to join Proskauer together.

UK Bribery Act – There's a New Constable in Town

He has taken office promising, in remarks to the Financial Times, to "rebalance the relationship between prosecution and civil settlement" and focus on "strategically significant cases". This would suggest a departure in approach from

Jailed fraudster Michael Brown's links to Pritchard Stockbrokers

Fraudster and Lib Dem donor Brown controlled broker linked to former Rangers owner Craig Whyte during his 2005/06 crime spree

Barclays backs RBS share deal for voters

Barclays is known to have discussed the plan with UKFI, which manages the Government’s stakes in the two banks, and it is also known that the Treasury is aware of its involvement.

Analysis: HSBC victory in UK case a relief to money-laundering monitors

Wednesday's High Court judgment is also a relief to financial firm professionals who feared the impact of a Shah victory on their processes for suspicious activity reporting.

Northern Rock sale costs $762m on taxpayers

Making the bank back into a customer-owned lender or selling the shares would have made less money, it said.

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