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

The European Banking Authority launches public consultation to enhance proportionality in liquidity reporting

The EBA is also proposing to exempt medium-sized institutions from reporting metrics on roll-over funding.

EBA consults on draft technical standards

For institutions applying the internal ratings-based (IRB) approach to retail exposures secured by residential or commercial immovable property, these draft RTS provide conditions to be considered when assessing the appropriateness of minimum LGD values.

FCA sets out proposals to strengthen its financial promotion rules for high-risk investments

The 3 areas of focus are the classification of high-risk investments, the segmentation of the high-risk investment market and the responsibilities of firms which approve financial promotions.

PIMFA welcomes moves towards greater transparency and control of cost for Claims Management Companies

But the current avenues available to consumers to seek redress are dominated by companies which often offer poor transparency about the nature of their services, while not providing value for money in terms of the fees they charge.

Financial Regulation: Daily Update

The FCA is seeking views on the classification of high-risk investments, the segmentation of the high-risk investment market, and the responsibilities of firms which approve financial promotions.

Danish prosecutors drop money laundering charges against former Danske Bank CEO

Individuals must have shown gross negligence in order to be convicted under the Danish money laundering act.

Insights from the 2020 Cyber Coordination Groups

These Cyber Coordination Groups (CCGs) have aimed to help firms share knowledge and discuss good practices in protecting themselves from cyber threats.

UK must learn lessons of Wirecard scandal, warn MPs

"Regulators need to be fleet of foot enough to anticipate the issues that arise as firms scale and must have the specialist knowledge to understand how these new types of institutions work."

Milestone for UK financial services as Bill receives Royal Assent

The UK has taken an important first step in shaping its own financial services regulation outside the EU as the Financial Services Bill received Royal Assent today (29 April 2021).

Cross-border law enforcement after Brexit: partnering in crime

While some teething problems may be expected, the TCA gives agencies broad powers to obtain one-off binding requests for documents, records of witness interrogations by the police and formal court testimony from abroad.

Pope sets 40-euro Vatican gift cap in corruption crackdown

Pope Francis set a 40-euro ($48) gift cap for all Vatican employees in one of his biggest efforts yet to crack down on corruption in the Holy See

The Tide Comes In: An Update on the SFDR and the Taxonomy Regulation

Many firms have, in compliance with the SFDR, already published their responsible investment policies setting how they have integrated sustainability and ESG risks across their investment chain in advance of the 10 March deadline.

Ashurst advises on £170 million sale and leaseback of McLaren Group's global HQ

Global law firm Ashurst has advised McLaren Group on the sale and leaseback of its headquarters to Global Net Lease for a total consideration of £170 million.

Spain: Final regulations implementing DAC 6 published

On 13 April 2021, the tax authorities published Order HAC/342/2021 (Order) and a resolution (Resolution) approving the official reporting tax forms for such cross-border arrangements and certain mandatory communications between the parties involved in the

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