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

Better Growth Offsets Inflation ANGST

The first quarter of 2021 was most notable for the bond tantrum as inflation expectations in the market started to adjust to the reality of higher prices.

Will 2021 be the year of special purpose acquisition companies (SPACs) in Luxembourg?

A SPAC is essentially a shell company formed with no business purpose or undertaking other than to raise funds for some future undefined object, and then later use the proceeds of that offering to acquire a private company in a reverse merger.

ESMA fines Moody's €3.7 million for conflicts of interest failures

ESMA believes it is crucial, to ensure independent good quality ratings and to protect investors, that CRAs carefully identify, and subsequently eliminate or manage and disclose conflicts of interest to avoid interference by shareholders with the rating p

Davy taps A&M for forensic investigation into operations

The news comes weeks after Davy was fined €4.1 million by Ireland’s Central Bank for a number of regulatory breaches related to a 2014 transaction.

European supervisory authority issues €8.15m fine for international data transfer and processing failings

This case demonstrates that organisations that transfer

PIMFA Welcomes the Enhancements to Consumer Protection Laid out in New Work and Pensions Committee Report on Pension Savers and Scams

Savers cannot continue to be liable to lose their life savings because of what amounts to regulatory shades of grey and the government must act to both empower the Regulator, as well as place a duty of care on tech providers to undertake proper due dilige

BSPS adviser enters default with 13 FSCS claims

The scheme had about 130,000 members at the time of which 43,000 were deferred, which meant transferring out of their pension was an option for them.

FCA bans IFA convicted of grooming

Given the nature and circumstances of his offence, the FCA considers that Mr Frensham is not a fit and proper person to perform any function in relation to any regulated activity

First Decision of a German Data Protection Authority on Supplementary Measures for International Personal Data Transfers from Europe

A German publishing company based in Munich used the online service "Mailchimp".

City may never be the same as five-day-a-week commute ends, says former Bank of England deputy

The switch will impact the economy “in ways we don’t fully foresee”, the former deputy governor for monetary policy at the Bank said this morning.

FCA: Feedback on open finance call for input

It also summarises the industry and HM Government initiatives which have developed since the FCA originally issued its Call for Input.

Understanding” that will set the conditions for how regulators from the EU and Britain share information.

Britain and the European Union agreed a new post-Brexit financial services pact on Friday that will allow them to co-operate on regulation but does little to improve the City of London’s access to the bloc.

Ray Dalio: The government ‘outlawing bitcoin is a good probability’

Bitcoin, the largest cryptocurrency in terms of market value, has “proven itself” as its blockchain hasn’t been hacked and it has a large following.

UK bank fraud hits new record

£479m lost to sophisticated scams exploiting people’s pandemic anxieties

FINMA publishes 2020 Annual Report

The year 2020 and FINMA’s activities were dominated by the coronavirus pandemic.

FCA reminds consumers financially impacted by coronavirus of the support available

This means that firms considering or taking repossession action should only do so as a last resort and when all other reasonable attempts to resolve the situation have failed.

EU directive introducing new reporting requirement for digital platforms adopted

The rules will apply as from 1 January 2023.

London forex trading boss fined for unauthorised WhatsApp investment advice

A Bow-based investment firm was found to have been giving out unauthorised investment advice via WhatsApp.

FinServices sector left reeling in wake of high-profile arrests on money laundering charges

Malta’s business community is in turmoil following recent damning developments in the investigation into the assassination of Daphne Caruana Galizia, the outgoing president of the Malta Chamber of Commerce told Business Today

UK and EU begin diverging on financial regulation after Brexit

Prospects for supervisory ‘equivalence’ fade as each side pursues differing rules

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