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

EU takes Luxembourg to court over money laundering rules

European Commission started infringement procedure against Luxembourg in 2016 over late adoption of EU rules

ILS funds need to consider their ESG standards

ILS fund managers from outside the EU who market their funds to investors within the EU will also need to be mindful of the SFDR's disclosure requirements.

Bank for International Settlements and Bank of England launch Innovation Hub London Centre

The London centre will help advance Innovation Hub's work on priority themes.

An attempt to ReAssure advisers: Company to stop denying transaction history requests

Solution 'going live this week'

Bank regulators plot toughest capital rule for bitcoin

The Basel Committee on Banking Supervision, made up of regulators from the world's leading financial centres, proposed a twin approach to capital requirements for cryptoassets held by banks in its first bespoke rule for the nascent sector.

FSCS pays out £3.75m on Greyfriars claims

Greyfriars was declared in default by the FSCS in April last year, after the lifeboat fund received at least one eligible claim against the firm.

Asset management industry blasts “excessively high” fees for essential benchmarking data

The index market is dominated by three firms, FTSE Russell, S&P Dow Jones, and MSCI

FCA introduces rule to protect customers from insurance ‘loyalty penalty’

As a result, the FCA included more guidance and detail on areas such as the treatment of incentives in the final rules.

Constructive trusts and immovable property – English High Court grapples with a vexed question of Jersey law

It was common ground between the parties to the English proceedings that that question was a matter of Jersey law

EU recommits support for the use of intellectual property rights in the Caribbean

The EU said intellectual property and innovation are critical components in fostering trade and investment as well as stimulating innovation and competitiveness in the private sector.

Law firms: facing the pandemic head on

In the first few precarious months, law firms acted quickly to preserve cash, improving their debtor days, negotiating with banks and cutting partner distributions.

Consultation Paper on the Codes and Guidance Documents proposed to be re-issued under Revision of Laws

The draft codes and guidance do not implement policy change but replicate the current codes and guidance with the incorporation of minor amendments such as updated references and new terminology where necessary.

Considering climate change – the Guernsey Commission publishes updated Finance Sector Code of Corporate Governance

Climate change reduction targets will materially alter the economic world we live in over the coming years and may hopefully have a positive impact on our environment.

Banks tested on climate crisis risks

Insurers will be assessed on the risks to their assets and liabilities, but were tested last year.

Financial Ombudsman Service complaints rise across the FS Sector during pandemic

Financial services regulatory dispute resolution expert, and ex-FOS ombudsman, Anthony Harrison of Pinsent Masons, the law firm behind Out-Law, said the complaint data showed the impact of Covid-19 pandemic on lives and livelihoods has been profound.

European Commission adopts new tools for safe exchanges of personal data

The Commission can adopt standard contractual clauses for the relationship between controllers and processors, as a tool to help to demonstrate compliance with the GDPR.

Carey Olsen advises Starwood on RDI purchase and TISE listing

The transaction gives Starwood controlled affiliates 100% ownership of RDI REIT after a c.30% stake was acquired in the property investment business from South African investor Redefine in July last year.

Yves Mirabaud: "Zero risk policy is not a solution"

In addition, the law on data protection has just been completely revised and strengthened.

Subscription Line Finance – Irish Funds

This article sets out an overview and comparison of the most common regulated and unregulated Irish fund types

Paris and Berlin look to dilute EU's strict bank capital rules

In 2019 the EBA warned that the parallel stack approach was not compliant with the Basel agreement.

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