Managers of Wealth Europe

Barclays banker made Qatar PM wait – so as not to look desperate, court hears

Barclays received £12 billion in emergency funds from mainly Gulf investors during the 2008 crisis.

Lords call on government to establish UK infrastructure bank

The Lords said unless a withdrawal agreement with the EU is negotiated before the exit day on 29 March, UK projects would have no further access to EIB funding.

FCA: Banking leaders' insights on adopting SMCR

The purpose of the guidance is to give practical assistance and information to firms preparing Statements of Responsibilities and Responsibilities Maps.

Asset protection trusts – why the recent interest?

To this end a trust is a tripartite relationship between trustee, property and beneficiary

What do Mandatory Disclosure Rules mean for companies?

Although the primary reporting requirement lies with the intermediary, the reporting obligation can shift to the taxpaying entity or individual.

Court of Appeal Decision in Manchester Building Society V Grant Thornton

This required the claimant to prove the counter-factual, that the same loss would not have been suffered if the advice had been correct, i.e. if the claimant had not exercised the break clause early and continued to hold the swaps.

Bankhall launches new hub for senior managers regime support

The rules, which are set to be rolled out to advisers later this year, require senior managers within firms to have statements of responsibility to establish lines of accountability, while testiying the competence of more junior staff on a regular basis.

Investing in Uncertain Times - LEBC

If a last-minute deal can be reached, or no deal does not result in chaos, then domestically focussed smaller companies are likely to be beneficiaries.

HMRC allowed to request documents from person abroad says Court of Appeal

There are fines for failing to comply with a notice, and criminal offences for destroying or tampering with documents.

ESMA sets out 2019 supervisory convergence priorities

The implementation of the SCWP will be closely monitored and priorities may be readjusted depending on possible changes in the EU environment in 2019.

ECB policy affects Eastern European economies – Bank of Italy paper

Colabella looks at data from 2004, before the ECB adopted quantitative easing policies, to 2016. He uses the “shadow interest

Intertrust to acquire ABN AMRO's Escrow and Settlement business

Transferring ABN AMRO's Escrow & Settlement business to Intertrust is in line with the bank's strategic focus on its core banking activities

Deferred Prosecution Agreement in the U.S. resolved

Since Julius Baer fulfilled its obligations under the DPA, the U.S. Attorney’s Office for the Southern District of New York filed a motion to dismiss the charges.

FCA approach to MiFID transparency calculations

Full details will be provided then, but the powers were provided to us to help avoid significant short-term disruption in a no-deal scenario.

ECB Banking Supervision conducts sensitivity analysis of liquidity risk as its 2019 stress test

ECB Banking Supervision will test adverse and extreme hypothetical shocks in which banks face increasing liquidity outflows.

FCA warns public of investment scams as over £197 million reported losses in 2018

The most common scams reported involved investments in shares and bonds, forex and cryptocurrencies

ICMA guide to due diligence requirements under Securitisation Regulation

The obligation to provide the information is on the originator, original lender or SPV. Failure to do so can result in administrative sanctions, remedial measures (including financial) and may also carry criminal sanctions.

Political agreement reached on EMIR Refit Regulation

This regulation was adopted in 2012 following the financial crisis to better manage and monitor the risks arising from derivatives markets for financial stability.

Law firm Blackadders ramps up Aberdeen presence with merger

The merger underpins Blackadders’ investment in people and our business infrastructure to reinforce our position for continued, strategic growth.

ESMA sets out use of UK data in ESMA databases under a No-Deal Brexit

ESMA’s statement aims to inform stakeholders on the approach it will take on all ESMA IT applications and databases.

Legal, Regulation & Compliance