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

LCF investors drop appeal against FSCS

The issue of compensation from the FSCS has been a matter of debate as mini-bonds are unregulated investments and therefore not protected by the scheme.

Kirkland Represents Nordic Capital

The transaction is expected to close in late 2021

Report: Italian Mafia Exploits Cryptocurrency and the Deep Web

The anonymity offered by the online markets is particularly valuable to the criminals amids the pandemic

Former Santander employee accused of multimillion-pound fraud

Belfast man (39) to stand trial on 66 counts of fraud by abuse of position with bank

EY fined more than £2m over Stagecoach audit failings

Big Four firm and former partner receive severe reprimands from UK accounting watchdog

Financial Regulation: Daily Update

The FCA will next write to firms in this portfolio in 2023 when it will provide its updated view of the key risks firms in this portfolio pose, the extent to which these risks are being mitigated, and the FCA's updated supervisory plans as a result.

FCA warns insurance firms over product governance rules deadline

Part of the FCA’s ongoing work to ensure consumers receive fair value, the review looked at how firms designed, sold and reviewed their products to ensure they met the needs of their customers.

General insurance product value and coronavirus (Covid-19) Guidance – update

Customers should be able to expect fair value from the financial services products they buy.

The EBA updates data used for the identification of global systemically important institutions (G-SIIs)

The EBA, acting as a central data hub in the disclosure process, updates this data on a yearly basis and provides a user-friendly platform to aggregate it across the EU.

Coronavirus and UK rent recovery

Given the scale of the rent shortfall (in the billions), the government is framing the arbitration system as a ‘last resort’ for landlord and tenants who are still expected to try to reach an amicable agreement.

Frenkel Topping enters fifth joint venture

Mark Holt, managing director of Frenkel Topping Limited, said: "We have known and worked with the Pattinson Brewer team for many years."

London Capital & Finance investors drop court appeal against FSCS

Customers who lost money in the collapse of mini-bond company London Capital & Finance (LCF) have withdrawn their judicial review appeal against the Financial Services Compensation Scheme (FSCS).

Key market developments in the Isle of Man

The Isle of Man Government recently passed the Beneficial Ownership (Amendment) Act 2021 which comes into force on 1 September 2021.

Financial Regulation Daily Update

The survey for firms in the temporary permissions regime and supervisory run off regime is also being rerun

Clifford Chance advises Block.one

Taking into account this transaction, Block.one will hold an interest of approximately 18.2 percent in Northern Data.

Mortgage adviser wins £23k after dismissal for ‘moaning’

Five days after she inquired about unpaid sick pay to the tune of £726.92, McMahon was fired.

PFS to pay €500,000 to clean up laundering

Tom Cregan, the EML managing director, said last week that new directors and an independent chairman have been appointed at its Irish subsidiary, although PFS was unable to confirm their identities on Friday.

Anti-money laundering fines surge as watchdogs impose tougher penalties

Authorities levied $1bn in the first half of 2021, on track to hit last year’s total of $2.2bn

Financial Regulation: Daily Update

The Financial Services Compensation Scheme (FSCS), under its fraud and scam prevention initiative, has published advice for consumers on protecting their savings and investments.

Financial Regulation Daily Update

This decision follows on from the FCA's Consultation Paper 21/3 (CP21/3) earlier this year.

Legal, Regulation & Compliance