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

Cyprus files first prosecution in passports scandal

Parliament speaker Demetris Syllouris and an opposition MP were secretly filmed allegedly trying to facilitate a passport for the fugitive investor.

Pimfa chief: New post-Brexit regulation supports FSCS reform

UK firms will not have to implement the IFPR until January 2022, unless they have a European base or subsidiary.

The rise in scams and the threat to a legitimate financial services industry

The FCA detected the promotion on the same day it appeared and started immediate inquiries.

Clifford Chance advises the syndicate of underwriting banks on Euronext’s successful EUR 1.8 billion rights offer as part of the financing of its EUR 4.4 billion acquisition of Borsa Italiana

This transaction builds on Clifford Chance’s leading EMEA capital markets practice

EBRD statement on Kumtor Gold

The EBRD will work with its shareholders, other international financial institutions and the foreign and domestic business community to highlight the negative consequences of such a course of action and to mitigate its impact.

Ireland's Implementation Plan to Tacle Economic Crime and Corruption

This is a further step towards the passing of new legislation to set up an independent Corporate Enforcement Authority which is intended to replace the existing Office of the Director of Corporate Enforcement.

FCA announces plans to stop CMC phoenixing

The CMC represented customers claiming more than £5m from the FSCS in claims against the husband’s former financial advice firm.

FCA consultation on a new consumer duty

The FCA is also consulting on the potential benefits of attaching a private right of action to the new Duty

The FCA and the BOA encourage market participants in a switch to SONIA

The FCA and the Bank of England support and encourage all participants in the sterling exchange traded derivatives market to take the steps necessary to prepare for and implement these changes

FSCS cuts levy to £833m as claims and firm failures delayed

Advice firms are still expected to contribute £240m to the levy.

Fears of ‘significant deterrent’ for whistleblowers as top EU court quashes Lux Leaks case

The European Court of Human Rights ruled that Luxembourg’s treatment of whistleblower Raphael Halet “struck a fair balance” between protecting his freedom of expression and the rights of PwC, despite objections from two dissenting judges

UK listing review: towards a dynamic London market

In addition, the government, lawmakers and the FCA will have to balance how best to reduce the regulatory burden without London losing the reputation for high standards which is of critical importance to its success as a global financial centre.

EU plans to ban cash payments above €10,000 in AML move

Some member states currently have ceilings on cash payments, ranging from €500 in Greece to €15,000 in Poland.

Central bankers split on CBDC future

In contrast, Boston Federal Reserve president Eric Rosengren has offered up his own, less enthusiastic, views on the subject of a digital dollar.

FCA proposes stronger protection for consumers in financial markets

The FCA has today set out plans for a new Consumer Duty, which will set a higher level of consumer protection in retail financial markets for firms to adhere to.

AssetCo to acquire Saracen Fund Managers in £2.8m deal

Subject to regulator approval

PIMFA welcomes FCA proposals to enhance consumer protections but warns against unintended consequences

o that end we agree with the Financial Conduct Authority (FCA) that ensuring a high level of protection is a key part of ensuring consumer confidence.

German 10-year bond yield holds below -0.1% as inflation concerns ease

The 10-year U.S. Treasury yield was down one basis point at 1.6539%.

PIMFA welcomes publication of Online Safety Bill but urges Government to do more to tackle clone investment fraud and fake online adverts

But while the Bill attempts to tackle fraud via user generated content on social media sites and dating apps, paid for online adverts from fraudsters and cloned – and therefore fake – investment firm websites appear conspicuous by their absenc

Doing business in the Netherlands

The country’s very stable political economy, highly educated workforce, extensive double tax treaties and pragmatic culture add to the country’s allure, especially for large and multinational companies.

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