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

‘Puppet’ solicitor suspended over money-laundering breach

A so-called financial services agreement sent by the client to prepare the escrow agreement contained ‘very basic’ spelling mistakes, errors and confusing clauses.

EBA Consults on Integrating ESG into Risk Management, Supervision

The consultation paper follows the release of the EBA’s ‘Action Plan on Sustainable Finance’ last December, which outlines the authority’s deliverables and activities related to ESG factors and risks.

Two-thirds of UK banks have no net zero target

As a result, 2020 has subsequently seen a growing number of private and public entities aiming to be zero-carbon within a short amount of time.

Deutsche Bank rebuffed ECB over call for action on leveraged finance

Regulator requested suspension of key areas of business amid concern at ‘incomplete’ framework for monitoring risk

Julius Baer reaches agreement to resolve FIFA matter in the US

Julius Baer has reached an agreement in principle with the U.S. Department of Justice to settle an investigation in the FIFA matter.

Swedbank ex-CEO: We did not knowingly launder money

Perens is currently the head of the Tartu University Hospital, having worked as the CEO of Swedbank Estonia from 2008 to 2014.

Latvian regulator fines Regional Investment Bank for “irregularities”

It is not the first time the bank has been fined by the regulator.

In the matter of the Arpettaz Settlement [2020] JRC 161

The introduction of so-called firewall provisions has, if anything, only reinforced that general position.

Scottish Widows pulls half a billion from firms in ESG move

If the size and type of investment means Scottish Widows can influence positive change in their business models, the insurer may choose to stay invested and steer future direction instead.

LV launches drawdown pathways

It will become mandatory for investment pathways to be offered to non-advised drawdown customers from February 2021.

Covid-19: FCA issues tailored financial resilience survey for TPR and SRO firms

Completion is not mandatory for these firms, but the FCA encourages them to complete the survey.

EBA launches consultation on revised guidelines on sound remuneration policies

The proposed amendments do not represent a substantive re-write, and instead merely reflect the changes that have been made to the remuneration provisions of the Capital Requirements Directive (CRD5).

Former BHS owner jailed for six years for tax evasion

In sentencing, the judge said Chappell had engaged in a "long and consistent course of conduct designed to cheat the revenue".

EU ‘blacklisting’ takes shine off Mauritius – report

European Commission says the island has ‘strategic deficiencies’ in its anti-money laundering and counter-terrorism financing regimes.

Investment Firms Prudential Regime (“IFPR”) UK implementation – will you be ready ?

Firms should consider how prudential consolidation will apply and the way in which to meet any new requirements.

Treasury confirms FSCS levy talks as MPs raise concerns

The letters, part of Financial Adviser's Keep Fees Fair campaign, highlight the problems arising due to escalating professional indemnity insurance premiums and a contraction in the market, in addition to eye-watering annual increases in the levy adv

Danske Bank Fined US$1.4M for Misleading Customers

Vogelzang emphasized that all affected customers have been contacted, and that the bank has compensated more than 99 percent of them.

Pensions risk transfer market resilient against Covid-19

Many pension schemes which had already substantially de-risked their investment strategy before Covid-19 hit have been able to continue to de-risk through bulk annuities and longevity insurance transactions.

A new blueprint for financial regulation

HMT is proposing a new institutional framework for developing regulation in the UK.

IFA jailed for £1.2m Ponzi scheme

Money was used to fund his ‘lifestyle and businesses’ and a ‘substantial’ gambling habit

Legal, Regulation & Compliance