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

Call for probe into 'missing' £50bn of UK cash

The issue was first identified by the National Audit Office (NAO), which highlighted it in September.

Calls for clarity as advisers escape EU’s ESG suitability rules

But there is still the potential for similar proposals to be introduced by the UK government at some point.

GFSC introduces ‘fast track’ pre-authorisation for insurance cells

Artex in Guernsey has already implemented a captive cell solution within 48 hours.

The case for a European banking charter

Banks with global ambitions are turning inwards, to the relief of domestic politicians.

FCA publishes evaluation of rent-to-own price cap

The FCA has published an evaluation of its price cap on rent-to-own (RTO) products, which came into force in April 2019.

Italian mafia probe shows banks exposure to massive alleged laundering scheme

The officials declined to comment and it isn’t clear if there is an ongoing investigation.

EU agrees to new sanctions regime for rights abuses

The new regime will not replace existing sanctions regimes, some of which already address human rights violations and abuses in Syria, Belarus and Venezuela, but gives the European Union a new tool to coordinate any punitive measures on rights with Washin

FCA warns of 'significant' advice price clustering

The regulator's research found more than 80 per cent of ongoing holistic advice services had adviser charges set at only three price points - 0.5 per cent, 0.75 per cent and 1 per cent.

Financial Regulation Update

The FCA will supplement the evidence from its review with feedback to its Call for Input (CfI) on consumer investments

EU Exit: FCA reminds firms to be ready for end of transition period

The FCA has released a webinar (and accompanying transcript) held in August 2020 on the prudential requirements for Markets in Financial Instruments Directive (MiFID) investment firms.

Brexit and the FCA: Act now to protect your UK / EEA business operations

The TPR and the TMPR thereafter provides a grace period during which time inbound EEA firms and EEA funds should assess their existing business models and operating requirements and whether they should apply for full FCA authorisation.

Commission disburses €8.5 billion under SURE to five Member States

On 24 November, the European Commission issued the third social bond under the EU SURE instrument, for a total value of €8.5 billion. The issuing consisted of one single tranche due for repayment in July 2035.

Ireland's foreign investment regime

Ireland is a politically stable democracy, and successive Irish governments have striven to ensure Ireland remains highly attractive as a place to do business for foreign companies.

Finma adds Zug family office to warning list

Companies are added to the warning list by Finma because they have either not provided sufficient evidence to the regulator, or the evidence that they have provided is false.

Mourant supports longstanding client on debt fund closing

TDO II operates an "all-weather" approach to investing, with a strong network working together to find attractive investments at healthy prices.

Governors and Heads of Supervision commit to ongoing coordinated approach to mitigate Covid-19

The timely measures pursued by the Committee at the start of the pandemic and the GHOS's agreement to revise the implementation timeline for outstanding Basel III standards added to the unprecedented range of fiscal and monetary support measures that

FCA response to IBA’s proposed consultation on intention to cease US$ LIBOR

This will incentivise swift transition, while allowing time to address a significant proportion of the legacy contracts that reference US$ LIBOR.

European central bankers predict that the digital euro is at least five years away

Nobody seems to be in a rush to digitize the euro, but that could change given increasing global competition.

SBM Offshore Faces Swiss Probe Over Legacy Bribery Allegations

The latest SBM Offshore probe is related to allegations that it has resolved in the U.S., Brazil and the Netherlands, according to the company.

Arcadia collapse sees 10,000 pensions head to PPF

Both the industry and MPs have called on Sir Philip to plug the shortfall.

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