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

German Federal Court: German merchants are allowed to surcharge Paypal and Sofort

The issue of whether PayPal and Sofort transactions can, or cannot, be surcharged by German merchants has been controversial for quite some time.

Germany: MOF publishes updated draft law to implement EU anti-tax avoidance directive

The reform of the CFC rules would follow the March 2020 version of the draft law, including the proposal to leave the current minimum threshold of an effective tax rate of 25%

Refinements to the proposed UK National Security and Investment regime

The Government published its response to the consultation at the beginning of March 2021

Climate considerations now fully embedded across UK principal financial regulators

The UK has extended its global leadership on green finance by requiring its principal financial regulators to consider climate change, it was announced today (24 March 2021).

Climate considerations now fully embedded across UK principal financial regulators

The UK has extended its global leadership on green finance by requiring its principal financial regulators to consider climate change

Updated statement on non-damage BI settlements and deductions made for government support

How Government support is treated for tax purposes may differ from the way it is treated for calculating the loss under a BI policy.

Financial Crime and Fraud Regulatory Updates March 2021

This edition focuses on the UK, Germany, Poland, the UAE and Saudi Arabia and is relevant to individuals working in financial services in any of these jurisdictions.

PRA: PS on depositor protection - identity verification

The PRA lays down its final policy, as follows

Harneys Cyprus maintains high ranking by Chambers Europe

The team also act for clients on financial law matters, such as project finance and debt restructuring, and are highly experienced in syndicated financing and refinancing transactions.

Banknote character - speech by Andrew Bailey

Given at the unveil of the Alan Turing £50 polymer Banknote

Ashurst advises on demerger of the Wickes Group from Travis Perkins plc

Citigroup and Deutsche Bank are acting as joint financial advisors and joint sponsors to Travis Perkins and Wickes.

FCA review of MiFID II product governance rules

The FCA selected a case study product from each asset manager – all products assessed were UK authorised CISs available to retail investors on both an advised and non-advised basis.

Statement on the review of the FCA approach to the UK’s derivatives trading obligation

In that statement we said that we would keep our use of the TTP under review and consider by 31 March 2021 whether market or regulatory developments warrant a review of our approach.

Jersey Funds Industry Reaches New Record Heights in 2020 in Face of Challenging Global Market Conditions

The increase reflects a period of sustained growth for Jersey’s funds industry, with the figure at the end of 2020 rising by more than two thirds (67%) over the last five years.

Ashurst advises Negentropy Capital Partners on Italian investments

The Ashurst team led by partners Antonios Nezeritis and Isabelle Lentz advised on the Luxembourg aspects of the investments.

Addleshaw Goddard: Financial Services & Banking News

The aim of the consultation is to inform the Commission on remaining obstacles

Addleshaw Goddard AG Data & Privacy News

The mandate covers the protection of privacy and confidentiality in the use of electronic communication services and is seen by the EDPB as a positive step towards a new ePrivacy Regulation.

HM Treasury Advisory Notice: Money Laundering and Terrorist Financing controls in higher risk jurisdictions

Requirement to apply Enhanced Due Diligence for higher risk jurisdictions.

Ban on leaving the UK enforceable by £5,000 fine

The travel ban does not apply to those going to the common travel area of the Channel Islands, Isle of Man and the Republic of Ireland unless that is not the final destination.

Treasury Committee publishes BoE response to inquiry into future of financial services in the UK

The Financial Policy Committee (FPC) is ‘committed to the implementation of robust prudential standards in the UK.

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