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

Ireland Update: Winds of Change for Whistleblowing

The definition of relevant wrongdoings will be broadened to include breaches of financial services regulations

FCA register set for 62-hour blackout

Under the Senior Managers and Certification Regime firms are required to submit data to be published as part of a directory of certified and assessed persons on the register.

Belgium’s biggest banks propose system to share suspected money laundering information

The proposal was made at a Belgian parliamentary hearing held in response to the FinCEN Files investigation.

Implementation of anti-corruption recommendations ‘all the more pressing’ (updated)

Of the 16 recommendations made by Greco in 2016 to Cyprus, seven have been fully implemented, six remain partly implemented and three have not been implemented, according to the compliance report.

Carey Olsen named best Guernsey law firm by Who's Who Legal

Published by Law Business Research, Who's Who Legal has been identifying the foremost legal practitioners in multiple areas of business law since 1996.

Financial Regulation Update

The FCA has also published an overview document on the Benchmarks Regulation (BMR) and proposed amendments under the Financial Services Bill.

German central bank says economic recovery interrupted by pandemic resurgence

The German government is set to spend €10bn (£9bn, $12bn) to compensate businesses that have to shut this month, covering up to 75% of their normal November revenue based on 2019.

HMRC criminal actions against rich individuals jump 40% in 2019/20

The role of the unit is to use criminal and civil powers to investigate suspicious or serious non-compliance by companies and the wealthiest taxpayers.

Joint statement on the implementation of prudential reforms in the Financial Services Bill

Joint statement from HM Treasury, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) on the implementation of prudential reforms contained in the Financial Services Bill.

Advisers urged to shake up pricing models to shore up future

Advisers need to start engaging those younger clients now.

Devilish detail in UK Settled Scheme for European HNWs

Submitting an application by the 30 June 2021 deadline may not be enough, law firm warns

Carried interest is pure fiscal ‘cakeism’

If buyout groups want their profits taxed as capital gains, they should put capital at risk

Coronavirus UK news – Boris Johnson starts self-isolation as new ‘mega labs’ could see 1 million tests a day

New lockdown has started and due to last for at least a month

Working from home could lead to more prejudice, report warns

The study, conducted by polling company Survation for the Woolf Institute, which researches interfaith relations, surveyed 11,701 people.

Call for three-year ban on EY bidding on public contracts

Anti-corruption group claims ‘recurring professional misconduct’ should preclude auditor from future business

BOE: Banks Don't Get Protection From Digital Currencies

Andrew Bailey, governor of the BoE, said over the summer that the BoE is closely examining how the idea of a digital currency would work. He said it has "huge implications" on payments as well as the general way society would operate.

Ogier in Guernsey advises Burford Capital on its dual New York Stock Exchange and London Stock Exchange listing

Burford is the leader in its field and we congratulate them on this success.

EU regulators seek solution to post-Brexit derivatives rule clash

Overlapping requirements risk leaving banks having to trade on other continents

‘Reckless’ ex-Carillion bosses to face FCA action

The FCA said that it had found that Carillion’s announcements on 7 December 2016, 1 March 2017 and 3 May 2017 did not “accurately or fully disclose the true financial performance” of the firm.

FCA probes wealth firms’ readiness for negative rates

It asks firms if their existing IT accounting systems and cash management processes accommodate negative interest rates, and whether they already hold negative-interest rate client cash balances in Euros or Swiss francs.

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