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

UK banks face higher fee requirement to use Post Office network

This proposal suggests the next banking framework could cost between £350m and £400m annually.

FCA Issues Warning on Unauthorized Meme Coin Project as Illegal Ads Persist

The regulations stipulate that all digital asset promotions must receive approval from the FCA or an FCA-authorized business before publication.

PRA Regulatory Digest - December 2024

The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.

Retail chain bankruptcies surge as companies struggle to stay relevant

High-profile retail chains such as The Body Shop, Dunkin’ Donuts, and Blokker have shuttered stores across the country, reflecting a troubling trend in the sector.

EU IMA users maintain edge in keeping risk charges compressed Aggregate market

RWAs increased slower in 12 months to June than at banks using SA only

Outlook for Defined Benefit Pensions

But we envisage there will be more policy focus on DB schemes in the coming year.

ESAs are recruiting Heads of Unit for their DORA Joint Oversight Team

The Heads of Unit, who will be assigned to each ESA, will be part of the DORA Joint Oversight Team.

The EBA responds to a law firm on the treatment of some legacy instruments of Banque Fédérative du Crédit Mutuel

Therefore, it is the EBA’s view that BFCM should target the redemption of these instruments.

City regulators to start oversight of tech firms that provide ‘critical’ services to UK

New powers come amid concerns that cyber-attacks and outages could put the country’s financial stability at risk

Consolidated financial statement of the Eurosystem as at 20 December 2024

This was due primarily to the change in the level of the deposit facility (liability item 2.2) and the longer-term refinancing operations (asset item 5.2).

French Regulator Urges Better ESG Reporting to Support Carbon Neutral Strategy

The AMF’s study of seven French financial institutions and their European counterparts highlights a lack of coherence between taxonomy reporting, ESG strategies, and other corporate disclosures.

SEC fines Deutsche Bank $4 million for late filing of suspicious activity reports

Deutsche Bank Securities has agreed to pay a $4 million civil penalty to settle the SEC’s charges.

Islands need full transparency in fight against dirty money, UK Government says

The Crown Dependencies have company beneficial ownership registers and they share data from these with UK law enforcement via the Exchange of Notes arrangements.

Colbourne & Company declared in default by Financial Services Compensation Scheme

This means the firm is no longer trading.

Bahamas' strong financial services laws, products highlighted at STEP Asia

“STEP Asia was a highlight to end the last quarter of 2024,” said Lawrence.

BaFin and ECB approve Germany’s DekaBank for crypto custody

But let’s not get too excited—this is Germany, after all, where regulation is the order of the day, and every action is measured.

UK regulator reportedly restrains FNZ, makes platform precedent

Earlier this year the UK financial regulator handed FNZ a so-called ‘section 166’ notice, triggering a review by an independent ‘skilled person’.

Rule changes proposed by FCA to boost investment

In practice these documents were often complex, unclear, and could miss important points.

FCA executes search warrants in investigations involving unauthorised business

The operations were conducted because the individuals are suspected of being involved in debt and claims management activities when they were not authorised by the FCA to do so.

M&G sues Royal London over £86m Ascentric purchase

Asset manager looks for at least £27m in damages on back of investments in high-risk bonds.

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