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

Carey Olsen a finalist for The Drawdown Awards 2021

The awards are scheduled to take place on Thursday 23 September at the De Vere Grand Connaught Rooms in London.

Stephen Allen pleads guilty to forgery in case brought by FCA

Among other assets, Haddow had an interest in a property -13 Brook Mews - which should have been available to the FCA to fulfil this restitution order.

Digital nomads: working inside the UK

If a business has permanent establishment in the UK, this will not just affect the corporate tax position but could also give rise to other compliance obligations.

Central Bank of Ireland updates AML/CFT Guidelines for Financial Sector

The Updated Guidelines list a number of steps that the Board should take in order to meet the necessary standard of governance and oversight.

Dealing with the publicity of a family feud - a modern way of thinking when it comes to the media

Blood may be thicker than water, but when it comes to a family dispute blood can boil far more readily than in a colder more clinical fight with an independent third party.

Norway’s GPFG backs requiring UK companies to report climate risks

The pair said company accounts were central to NBIM’s investment analysis, and deficient audit quality posed financial risks to investors and undermined trust in financial markets.

Brussels sets stage for battle over emissions cuts

EU reform proposals attacked by politicians, industry lobbies, environmentalists

Esma fines DTCC Derivatives Repository €408,000 for data breaches

The breaches, which were committed between 2014 and 2018, were found to have resulted from negligence on the part of DDRL.

Implementation of Basel standards

This PS is relevant to UK banks, building societies, and PRA-designated investment firms, as well as UK financial holding companies and UK mixed financial holding companies of certain PRA-authorised firms.

UK Authorities Issues A Red Flag Over The Usage Of Crypto Ads

A major native advertising business group has announced a crackdown on cryptocurrency advertisements

FCA fines LBGI £90 million

Renewal premiums offered to customers would also likely have been higher than the premium quoted to new customers, or customers that chose to switch insurance provider.

FCA Must Come Forward with Tangible, Tested Proposals to Strengthens the Financial Promotions Rules

PIMFA has reiterated its belief that the approval of financial promotions should be a regulated activity.

European Commission endorses Cyprus's €1.2 billion recovery and resilience plan

The Commission assessed Cyprus's plan based on the criteria set out in the RRF Regulation.

Long awaited proposal for EU Green Bond Standard published

These initiatives highlight the EU's global leadership in setting international standards for sustainable finance.

Russia to Introduce Rules for Confiscating Crypto: Report

The country's prosecutor general said crypto is increasingly used for bribes.

UNDP and EBRD reaffirm partnership to promote sustainable development

The two organisations will also collaborate on issues including the digital transformation of small and medium-sized enterprises and the promotion of equality of opportunity for women, youth and people suffering from disabilities.

FCA issues £90m fine to LBGI for misleading home insurance communications to customers

Home insurance customers were told they were receiving a ‘competitive price’ or ‘discount’ for loyalty at renewal, however this language was not substantiated

Clifford Chance advises Allianz Real Estate on the acquisition of its first PRS portfolio in Spain

The portfolio comprises 421 residential units at 21 assets located in first-rate urban areas in Madrid and Barcelona and targeted at the middle market. Elix, one of Spain's major real estate investment managers, will manage the assets.

Data protection watchdogs call for a ban on automated facial recognition in AI Act

In terms of governance, the Opinion stresses the need to clearly set forth the independent nature of the authorities tasked with supervising and enforcing the AI Act.

FCA, PRA and Bank of England set out plan to improve diversity and inclusion in regulated firms

The regulators are also asking for views on how any changes could be tailored to specific categories of firms to ensure it is proportionate.

Legal, Regulation & Compliance