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

SJ Berwin favours London in depleted promotions round

Allan, who focuses on both fund formation and fund-related transactions, is an addition to the firm’s investment funds partner offering,

FSA seeks £100m for investors who lost out in Arch cru freeze

THOUSANDS of investors who were mis-sold Arch cru funds are in line for an extra £100m compensation.

Low investor awareness of risk shows need for risk targeted funds

Half of people who have an investment product are only vaguely aware of the level of risk they are taking within that product according to new research by Skandia Investment Group.

Watchdog may act on whistleblower’s KPMG complaint

Paul Moore, the former head of risk at HBOS, has complained to the Financial Reporting Council (FRC) over a report prepared by the auditor that approved his dismissal from HBOS in 2005.

Northern Trust helps Sparebank1 Skadeforsikring meet its Solvency II requirements

Northern Trust has announced today that it is providing specialist custody and asset administration services to help insurance clients, such as Sparebank1 Skadesforsikring, help prepare for Solvency II.

FSA seeks £100m for investors who lost out in Arch cru freeze

The Financial Services Authority has used new powers to set up the scheme after investors seeking low-risk products ended up with high-risk assets such as shipping and venture capital.

SJ Berwin favours London in depleted promotions round

The City firm has made up four London associates and one in Frankfurt, down on the eight it promoted last year (6 May 2011).

FSA fines wealth firm £26k for 'serious' failings

The FSA found that Christchurch’s Compliance Officer, Thornberry, failed to ensure that client money and assets were managed appropriately.

KPMG faces inquiry over rescue of HBOS

Mr Moore’s complaint comes a week after it emerged that the former head of HBOS’s corporate bank, Peter Cummings, is to fight a seven-figure fine handed out by the Financial Services Authority for his part in the collapse of the bank.

New SFO head David Green pledges agency 'here to stay'

There had been speculation Mr Green could have been tasked with merging the SFO into one of the other crime fighting agencies.

Morgan Stanley May Seize Citypoint Tower, Sunday Times Reports

Beacon Capital has missed several interest payments on the Morgan Stanley loan used to buy Citypoint in 2007, the London- based newspaper said.

Nearly 11,000 KPMG staff go unpaid

Usually KPMG staff are paid on the last Friday of every month however, they will now have to wait until after the weekend.

FSCS payouts for bankrupt IFA ﬁrm approach the £250k mark

According to figures from the FSCS, it had received 38 compensation claims against CDH Insurance and Finance Consultants of Bangor in North Wales between 2011 and April 2012, and upheld 14 of these.

BLP makes third hire this week with addition of Linklaters partner

Watson, whose start date has not yet been decided, will join BLP after 14 years in the partnership at Linklaters. She has been at the magic circle firm since joining as a trainee in 1990.

Norton Rose further enhances structured finance and capital markets with new partner hire

He was previously a partner in Allen & Overy’s structured finance group

CA freezes bank accounts of Pinay wife of British in £700M fraud case

The CA's freeze order was in response to an ex-parte petition filed by Philippine Anti-Money Laundering Agency, from which the UK's Serious Fraud Office (SFO) sought assistance.

Do the right thing, UK watchdog Sants tells bankers

Britain's top banks such as Barclays, Lloyds and Royal Bank of Scotland have already been warned by investors to rein in excessive pay at a time of shrinking rewards for shareholders.

FSA confirms plans to ban promotion of traded life settlements

The regulator has published its final guidance on traded life policy investments this morning, following an earlier guidance consultation in November.

EU regulators urge caution on fast trading curbs

The European Parliament and the bloc's member states are approving a reform of securities trading rules known as MiFID, with specific elements curbing high-frequency trading (HFT).

Finance Watch publishes position paper on MiFID 2

It also calls for the EU to drop the proposed “OTF” trading venue category, which risks opening the door to regulatory arbitrage.

Legal, Regulation & Compliance