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

Is Jersey part of the UK for probate purposes?

Trust and estate practitioners in Jersey and in the UK are well versed at advising clients the opposite however – that Jersey does not form part of the UK.

Updated AIFMD Q&A signals Ireland is ‘very much open for business’

The CBI also noted that the QIAIF’s prospectus should detail the role of the AIFM with respect to its ongoing oversight and review of services provided by such non-discretionary investment advisors.

Financial Regulation: Daily Update

The FSB has requested feedback to these practice papers by 15 March 2022.

Ounapuu Ltd (formerly Ferratum UK Limited) enters a Creditors’ Voluntary Liquidation

The Liquidators will provide updates to customers as soon as possible.

FCA commences criminal proceedings in relation to Collateral (UK) Ltd

The FCA alleges that the Curries, who are brothers, dishonestly represented to investors that Collateral was authorised and regulated by the FCA to operate as a peer-to-peer lender knowing this was untrue.

France fines Google, Facebook millions over online tracking consent

Cookies have been a source of privacy concerns because they can be used to track users

HMRC waives late self-assessment penalties

The penalty waivers give taxpayers who need it more time to complete and file their return online and pay the tax due without worrying about receiving a penalty.

Diversity and inclusion: both a path and a destination

Our article considers key implications for firms in the financial services sector.

The CJEU rules on the interpretation of Article 5 of the EU Blocking Regulation

One relevant factor when assessing proportionality would be, in the view of the CJEU, that in the present case, Telekom did not apply for an exemption of Art. 5 EUBR to try to avoid its entrepreneurial freedom being limited.

FCA publishes final IFPR remuneration disclosure rules

The FCA was also requested to clarify how the MIFIDPRU rules

Herbert Smith Freehills Financial Regulation: Daily Update

Noting concerns about phishing emails and scams, the FCA advises firms to check that the email address from which a survey is received corresponds to the one provided in its announcement or to an FCA email address in the usual format.

National security law extends UK government power to block acquisitions

It allows the business secretary to impose conditions on an acquisition or block one altogether if is deemed a threat to national security.

Linklaters advises Caisse Fédérale du Crédit Mutuel Nord Europe

The Caisse Fédérale de Crédit Mutuel is now the technical and financial cooperative tool shared by 1,500 Crédit Mutuel agencies.

Lenders left out of pocket by millions amid alleged fraud at broadcaster

Just nine of the 55 lenders to Arena reportedly have any verified assets supporting their loans.

EU tightens screw on shell companies with minimum substance test

The rules will also increase transparency around the use of shell entities for tax authorities with greater information exchange protocols.

Public Statement Concerning The Regulatory Investigation Of The Isle of Man Financial Services Authority

Standard has proactively brought about operational changes in an effort to address the issues identified and the concerns of the Authority.

Financial Service & Banking News

The findings from those exercises are set out in the accompanying report.

The three regulatory headwinds facing financial services in 2022

Alongside these, post-Brexit development of the UK’s new regulatory framework and changes arising through the Wholesale Markets Review, mirrored in the EU by the MiFID II review, mean that keeping a close eye on the horizon remains as critical as ev

Financial Regulation Daily Update

The opinion also includes a report on the impact of de-risking on access to financial services, which considers a number of issues in more detail.

Top UK law firm fined record sum for breaching money-laundering rules

Mishcon de Reya agrees to pay fine of £232,500 after investigation by Solicitors Regulation Authority

Legal, Regulation & Compliance