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

Business interruption insurance test case – Insurer claims data

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

Financial Services & Banking News

It was also highlighted that the current MCD may not support market developments such as digitalisation of delivery and the sustainable finance agenda.

Italy has quietly become one of Big Tech’s most prolific antagonists

The sanctions vary greatly in their size but carry a similar message: National regulators will take action in their home markets.

MiFID II: FCA to review competition concerns in wholesale data markets

The feedback statement does not identify ultimate outcomes which the FCA may take should it decide to address any of the above concerns.

Carey Olsen trusts and private wealth partners recognised in Spear's 500 for 2022

Their recognition in the Spear's 500 is the latest accolade in an extremely successful past 12 months for Carey Olsen's global trusts and private wealth practice.

Daily Legal Update

FCA looks to strengthen financial promotion rules for high risk investments

Wealth firm in High Court battle after directors’ ‘gross misconduct’ dismissal

The ex-directors of Bartholomew Hawkins Limited took consolidator IWP to court over the value of their shares after they were fired for gross misconduct.

Financial Regulation: Daily Update

The recent consultation sets out the HMG’s proposals for adapting the UK regulatory framework for CCPs and CSDs. Feedback is requested by 28 February 2022.

Fraud suspect changes plea in £13.7m pension transfer case

After previously stating he was not guilty

EBA confirms the continued application of COVID-19 related reporting and disclosure requirements until further notice

The EBA will continue to monitor developments and will further reassess the application of the Guidelines on an annual basis and will consider repealing the Guidelines in the future when the situation permits

EBA publishes a Discussion Paper on its preliminary observations on selected payment fraud data under the Payment Services Directive

The preliminary patterns suggest that the regulatory requirements developed in relation to payment security are having the desired effect.

ESMA publishes results of its assessment of systemically important UK Central Counterparties

ESMA’s findings will also provide important input to the European Commission’s decision regarding the extension of its temporary equivalence decision for UK-based Tier 2 CCPs in early 2022.

FCA cancels 4 European firms post-Brexit permissions

European firms wishing to remain in the temporary permissions regime (TPR) need to meet the FCA’s standards to continue operating in the UK.

KWM Advised Bayerische Vermögen Group

KWM has already been advising Bayerische Vermögen Group since the end of 2017

Ashurst advises Bullfinch Asset AG on a joint venture with Impax Asset Management

The platform enables the bundling, financing, standardisation and management of sustainable building and facilities infrastructure.

Grant Thornton and Pinsent Masons collaborate to support effective data sharing across financial services

The proposed Open Finance concept is much wider than Open Banking; affecting mortgage providers, consumer credit firms, investment and pension funds, as well as general insurers and intermediaries.

FCA fined UK financial organisations £568m in 2021

“Lockdown, and the resulting dependence on digital services, has made it easier for criminals to impersonate legitimate services and scam consumers.

Financial Services & Banking News

For the guidelines' purpose, transferability covers all the elements that will facilitate the transfer of an entity, a business line or a portfolio of assets, rights or liabilities to an acquirer (public or private company), a bridge institution or a

Financial Regulation: Daily Update

This revised version reflects the changes to the regulatory framework for peer reviews introduced in December 2019

Supervisory flexibility on the short selling indicator

We are putting in place temporary measures for the reporting of the short selling indicator in transaction reports while we consider changes to the UK transaction reporting regime.

Legal, Regulation & Compliance