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

Invest Europe The Drive to Standardise

Its intention is to develop and implement a coherent standard for private equity and venture capital firms reporting on ESG issues.

Akin Gump Advises Piraeus Bank

Euronet Worldwide will act as Piraeus Bank’s long-term partner for the provision of merchant acquiring services to Piraeus Bank customers.

UK suspends tax co-operation with Russia

This tax information is exchanged as part of global collaboration to address tax compliance risks

Austria’s Raiffeisen Bank may exit Russia as Ukraine crisis deepens

The Austrian lender’s business in Russia accounted for nearly a third of its net profit of $1.7bn in 2021.

FCA exploring side pocket route for Russia-exposed funds

Some suspended funds - like the £236.7m Liontrust Russia Fund - may be able to use side pockets as a way out of suspension.

EU: The “Data Act” – New rules on IoT data and switching cloud services

The Data Act also proposes important changes to make it easier to switch cloud services.

Banks’ Quincecare duty in APP fraud cases extended

APP frauds occur where a victim authorises a bank transfer into an account which they believe is controlled by a legitimate payee, but actually belongs to a fraudster.

Legal News - 17 March 2022

The guidance also points to other resources, notably NCSC guidance.

Core role of Irish regulator in EU data protection cases highlighted

The purpose of the mechanism is to allow businesses to deal with just one data protection authority in relation to their EU operations, as opposed to DPAs across all EU member states.

Financial Regulation:Daily Update

Side pockets would potentially give authorised fund managers the option to separate Russian and Belarussian assets, that are difficult to sell and/or hard to value, from the fund’s other core investments.

Evolving Trouble

The global economy is on course for lower growth and higher inflation.

Business interruption insurance test case – Insurer claims data

Find the latest data we have collected (as of 7 March 2022) from all affected insurers on the progress of their non-damage business interruption (BI) insurance claims.

Ukraine: Talk of Full Confiscation Risks «Rule of Law»

The UK government is discussing whether to place refugees in the mansions of wealthy Russians, effectively confiscating them.

Foreign Secretary announces historic round of sanctions on Russia

Liz Truss announces historic round of sanctions, taking the overall number of UK sanctions on Russia to more than 1,000 since the invasion of Ukraine.

UK regulators warn cryptoassets cannot be used to circumvent sanctions

Financial crime and intelligence expert Hinesh Shah of Pinsent Masons said the statement puts the cryptoasset industry on notice that UK regulators will act against sanction breaches, and that attempts by sanctioned parties to use cryptoassets to circumve

Legal, Regulation & Compliance