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

95% of UK organisations 'do not comply with EU cookie law'

New regulation comes into effect next month, with financial penalties for non-compliance

France's Hollande Unveils 'Vast' Tax Reform Plans

Denouncing the legacy of outgoing President Nicolas Sarkozy’s five-year term in office, marked by accumulated debt of EUR612bn (USD799.7bn), by a proliferation of supplementary finance laws and incoherent budgets, aimed at maintaining the fiscal pri

France tightens grip on super rich

Tax rises for the wealthy are at the heart of the debate and if the left wins, France could become the country with the highest tax on the rich in the EU, and one of the most punishing in the world.

German Tax Office in Talks to Buy Swiss Bank Data, Spiegel Says ‎

One of the sets of data is information from the Zurich Coutts Bank, a unit of the Royal Bank of Scotland Group Plc, the German magazine reported.

Germany Outraged over Swiss Arrest Warrants

The move has gone down well in Switzerland, where politicians have praised the country's assertiveness. But it is unclear how the Swiss authorities will proceed -- the main witness is dead.

FSA probes swap-sale targeting

The City regulator is examining whether “aggressive sales targets” influenced the type of interest rate hedging products sold by banks to small companies as part of its review of swaps selling following an investigation by The Sunday Telegraph

Dechert Opens Office in Kazakhstan

Dechert has opened an office in Almaty, Kazakhstan, with the hire of Chadbourne & Parke's attorneys there.

High roller famous for Dubai Champagne tab arrested

Alex Hope, the foreign exchange trader who hit the headlines after reports claimed he spent £200,000 in one night on a bar bill, has been arrested on suspicion of unauthorised trading.

Blame-game tactics applied over AIFMD

European Commission ignores advice and points the finger, says administrator

Shearman senior partner quits firm to head up Citi's legal team

Weerasinghe replaces the US investment bank's general counsel Michael Helfer, who is taking on the new role of vice chairman after nine years in the GC position.

Aegon, Standard Life to pay redress over Sipp transfers

Although the ombudsman said Standard Life was responsible for the error, Mr Hearn’s advisers were given enough information to realise it had happened and therefore could reasonably have mitigated any loss, according to the determination.

EU to open investigation into sale of Dexia bank in Luxembourg

Last October, the governments of France, Belgium and Luxembourg reached agreement on the dismantling of Dexia.

SEC hits Pentagon with biggest fine on foreign group‎

The hedge fund of a Conservative Party donor has been fined $98 million for market abuse.

Hedge fund fury at Brussels directive

The row has been triggered by the circulation of a 110-page EC draft text of "supplementing rules" aimed at enforcing the directive.

FSA cracks whip at dawn for enforcement

Steven Francis, regulatory partner at RPC, said the high number of dawn raids is evidence of the FSA’s increased focus on more conspicuous and heavy-handed enforcement exercises since the start of the credit crunch.

RSM Tenon and PwC in legal battle over flawed accounts

According to The Times Tenon has called in lawyers who have raised ‘serious concerns’ about the quality of PwC’s audit, and advised the management team that they may have a claim against their fellow accountants.

Merkel to Forge Ahead on Tax Treaty as Switzerland Seeks Arrests

“We have a situation in which two neighboring states, Germany and Switzerland, have a differing legal assessment of the same development,” Seibert told reporters. “For situations like this one, a treaty would establish legal certainty.&r

Top JP Morgan banker resigns over £450000 fine for market abuse

The FSA believes that the size of the proposed fine reflects the serious nature of the market abuse and should act as a deterrent to other market participants.

Italy's Lombardy settles UBS derivatives dispute

No financial details were given as the parties cannot disclose details until the contract is signed.

Alan and Gina Miller - the husband and wife team shaking up the investment industry

Multi-millionaire Alan Miller, the original 'Mr Hedge Fund’, and his wife believe the investment industry is failing clients.

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