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

EC agreed position on MiCA and DORA and EC/EP reached political agreement on DLT Pilot Scheme on 24 November 2021

The European Central Bank published its opinion on MiCA in February 2021.

Financial Service & Banking News

This includes changes to the FCA Handbook

Financial Regulation: Daily Update

The new rules aim to protect consumers against excessive charges by introducing a fee cap.

FCA: Mortgage Prisoner Review

The FCA’s Mortgage Prisoner Review has been laid before Parliament.

FCA set to nearly double minimum fee to £2,200

The fee increase would better reflect the costs associated with the authorisation and supervision of 51,000 firms throughout the UK.

Deferral of the SFDR RTS – No time for a break for financial market participants

Accordingly, the EU Commission has announced yesterday that it will defer the application of the SFDR RTS to 1 January 2023.

European Commission publishes proposed amendments to the Alternative Investment Fund Managers Directive

The Commission acknowledges that the AIFMD has generally worked well in terms of introducing a harmonized, supervisory framework for alternative investment fund managers.

EU parliament prepares for vote on Digital Markets Act

The DMA, drafted by the European Commission in December 2020, faced lengthy delays while MEPs on the Committee on the Internal Market and Consumer Protection (IMCO) scrutinised its wording.

Linklaters advises the underwriters on the ABB of VGP

This transaction was a follow-up of VGP’s private placements of new and existing shares in April and September 2020, where the Linklaters team also acted as Underwriters’ Counsel.

Government announces child trust fund changes

But if the account holder is not classed as legally able to manage their money they or their parents have been struggling to access the funds.

Judgment handed down by High Court in first UK mid-market restructuring plan

Amicus Finance case establishes balance between realistic scrutiny of plans and fair outcome for creditors.

Ireland tightens regulation of data centre grid connections

“Locating away from areas of high demand and constrained supply will undoubtedly be important for continued data centre growth in Ireland.

Director duo banned for £800k ‘ethical water’ investment scam

A further £200,000 had been withdrawn from the company account over a two-year period, from 2018 and 2020, in cash.

FCA reforms decision-making to tackle consumer harm

The FCA has reformed its decision-making process to ensure it can make faster and more effective decisions for consumers, markets and firms.

It is not just the super-rich who hide assets in divorce proceedings

The problem of hidden assets means the use of private investigators is now the norm in splits where one or both parties are very wealthy.

European Commission’s Proposals for reform of AIFMD, UCITS Directive and the ELTIF regime

Welcome changes or regulatory creep?

HSF Financial Regulation: Daily Update

The Regulation relates to the reporting of credit and market risk information by relevant institutions.

HSF Financial Regulatory: Daily Update

The proposals aim to enhance outcomes for consumers

FCA removes IFA's permissions over concerns of unregulated advice

The Firm has the right to make written and oral representations to the Authority

Convicted LIBOR rigger to learn appeal decision within weeks

The CCRC, which investigates suspected miscarriages of justice, confirmed that a decision on the case could be issued within three weeks.

Legal, Regulation & Compliance