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

Brussels to curb banks’ use of ‘cross-border’ permissions to access EU

Measure in new capital regulations would tighten patchwork of national arrangements and affect banks in London

HMRC issues scam warning ahead of self assessment deadline

The self assessment deadline is January 31, 2022 and therefore people may expect to hear from HMRC around this time of year.

Guernsey linked to thousands of UK property ownerships

THE legal ownership of thousands of properties in the UK has been linked to Guernsey by new research.

EU Move Marks Threat for Swiss Banks

This cross-border crackdown is central to streamlining global banks within the EU, and hands more heft to regulators.

Advance drafts of legislative package from MiFID II/MiFIR review: What are the key points?

The amendments to MiFIR and MiFID II are the output of the MiFID II review.

HSF Financial Regulation Update

The FCA has 40 working days in which to examine the applications for registration.

Standard Chartered facing court case

Standard was hit by a further £900million fine in April 2019 for breaching the sanctions after a US investigation found it had been dealing with Iranian, Cuban and Sudanese individuals and entities.

FCA confirms recognition of the revised FX Global Code and the Global Precious Metals Code

The FCA expects firms and individuals to consider both the spirit and letter of code provisions to make sure they fully meet ‘proper standards of market conduct’.

Liechtenstein Confirms Probe into Lebanon’s Central Bank Governor

Salame has repeatedly denied any wrongdoing and said he had demonstrated that his wealth had been acquired before he took up his central bank post in 1993.

Financial Regulation: Daily Update

Both consultations aim to ensure consistent supervisory practices with regard to the review and evaluation of investment firms under the Investment Firms Directive (IFD).

CII offers guidance on safely using social media

The guide also flags it isn’t just what you write or photos you post that could cause you problems with insurance and personal finance professionals being encouraged to fact and source check any content they wish to share.

Mandatory reimbursements for bank transfer scam victims under new plans

Large banks could also be required to publish their performance data in relation to bank transfer scams.

Financial Regulation: Daily Update

The FCA expects that any new rules resulting from CP21/30 would could come into force in April 2022.

FCA proposes ban on debt packager referral fees to protect consumers

The FCA has seen evidence of debt packagers appearing to have manipulated customers’ details so that they meet the criteria for IVAs/PTDs, and used persuasive language to promote products without explaining the risks involved.

FCA: Debt packagers: proposals for new rules

If consumers do not receive advice which meets our standards, they may end up on unsuitable debt solutions.

Financial Services and Banking News

The consultative document includes 18 high-level principles. Principles 1 through 12 provide banks with guidance on effective management of climate-related financial risks, while principles 13 through 18 provide guidance for prudential supervisors.

UK government publishes guidance on security rules for tech takeovers

National Security and Investment Act 2021 give ministers power to halt M&As

Frenkel Topping enters sixth joint venture

Ralli managing director Martin Coyne, lead partner Adrian Anderson and partner Stephen Fox, will act as directors of Ralli Financial Services alongside Frenkel Topping's group chief executive officer Richard Fraser

IQ-EQ acquires U.S. outsourced compliance provider

Global Investor Services Group IQ-EQ deepens its U.S. foothold with strategic acquisition

FCA confirms rules for legacy use of synthetic LIBOR rates and no new use of US dollar LIBOR

The FCA has confirmed it will allow the temporary use of ‘synthetic’ sterling and yen LIBOR rates in all legacy LIBOR contracts, other than cleared derivatives, that have not been changed at or ahead of end-31 December 2021.

Legal, Regulation & Compliance