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

Top tier Guernsey teams stand out in Legal 500 UK

Rising Star Rachel DeSanges is head of Employment in Guernsey and is praised for her understanding of client needs within a 'knowledgeable team providing an efficient service.'

Weekly Tax Brief - 6 October 2020

There is a loophole where the regulations do not apply to employees who are contractually entitled to a longer period of notice than the law requires.

Unexplained Wealth Orders: Suspected money launderer gives up £10m of property

Around £10m of property has been surrendered in a major victory against some of northern England's most dangerous criminals.

EU Seeks Authority to Cut Off Banks’ Tech Suppliers if Found Wanting on Cybersecurity

Proposed legislation would stop banks and financial firms from using IT services that present risks, and would standardize cyber regulation across Europe

EBRD Head sets out plan for resilient, “majority green” future

Under the proposed new strategy, on which shareholders will decide today, the EBRD will accelerate the transition to a low-carbon economy.

Advisers warned over using FCA logo

Most firms also signpost their FCA number which can be used to search for a business on the regulator's register.

AIB considers charging wealthy customers for holding their money

Bank is grappling with low rates and rising household savings

Property investment firms wound up after stealing £2.85m

70 investors were promised returns ranging between 7% and 16.9%

BI Test Case - High Court grants 'leapfrog' certificates for appeal to SC

The FCA will press on with the application to appeal to the SC while continuing discussions with insurers and action groups to find a solution that avoids the need for appeal.

French bank BNP is asked for information on Jeffrey Epstein's wealth

Ms George's suit alleges violation of the territory's civil racketeering law and sought forfeiture of Epstein's private island in the territory as restitution for his victims and unspecified damages.

Lost trust: leaked files expose Jersey’s inaction on fraud scandal

But behind the scenes, it used client money for personal expenses by borrowing from clients under the guise of investments and onboarding new clients to repay the existing ones.

Lugano bank ‘seriously breached anti-money laundering regulations’

The breach is in connection with the handling of Venezuelan client relationships.

HSBC and UBS: Still more dirty deals by big banks

The bank is no stranger to such allegations, having squandered its reputation in a string of lawsuits brought against it for allegedly laundering $881 million for Mexican drug cartels.

Ban for traders who owed £11.2m to clients

The Insolvency Service said it had found "several instances of misconduct"

UK Financial Conduct Authority Bans the Sale of Crypto- Derivatives to Retail Consumer

These features mean retail consumers might suffer harm from sudden and unexpected losses if they invest in these products.

Macfarlanes advises Seven Investment Management on acquisition

The acquisition will see Partners Wealth Management retain its brand, identity and leadership, and helps both businesses take the next steps in their respective strategic growth plans.

Spain's Unicaja moving closer to Liberbank takeover

The discussions never stopped completely and have gained new momentum after CaixaBank and Bankia reached a deal this month, one of the people said.

European anti-money laundering watchdog starts inspecting the Vatican

“The scope of this phase of evaluations is to assess the effectiveness of the legislative and institutional measures adopted by the jurisdictions in recent years,” the statement said.

PIMFA urges Regulator to work more closely with industry to rebuild levels of trust in fair FSCS outcomes

The survey of 84 business owners and chief executives of member firms of PIMFA, the trade association for the wealth management and financial advice industry

Portuguese regulator calls for criminal prosecution of auditors following Luanda Leaks

The regulator also identified situations in which auditors failed to identify parties to transactions, lacked adequate documentation to show “economic substance of underlying transactions” and did not maintain ”professional skepticism,&a

Legal, Regulation & Compliance