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

Covid-19: FCA proposals to support consumer credit customers

The proposals outline the support firms would be expected to provide to credit card and other revolving credit and personal loan customers coming to an end of a payment freeze

Do as we say! China orders UK firms to obey or else they'll 'pay price and be hit hard'

BRITISH firms have been sent a powerful warning by Chinese state media with one firm told they face a "life or death test", in a stinging attack, as they respond to the new security law in Hong Kong.

Luxembourg's Impending Professional Guarantee of Payment Regime, 2020

Luxembourg is a civil law jurisdiction where the Napoleonic (French) civil code originally constituted the framework of its contract law.

HSBC faces £1.3bn legal claim for its involvement in film financing scheme set up to avoid tax

Retired policeman and lead claimant Chris Upham said he invested £25,000 in what ‘seemed like a great opportunity’.

FCA consultation on marketing speculative illiquid securities to retail investors

The FCA has also published a research note providing evidence-based understanding of how consumers choose amongst high risk investment products.

Bundesbank boss moves to defuse row between ECB and German court

Jens Weidmann tells MPs he is confident clash over bond-buying programme can be resolved

Linklaters and Allen & Overy reopen London offices as New York gears up for easing of lockdown

The phased, and cautious re-openings by law firms in London look set to become the norm as the lockdown eases — in a detailed update on its plans CMS.

Hungarian Financial Regulator Fines 6 Banks for Failure to Implement Money Laundering Safeguards

The banks had failed to report several suspicious transactions and internal controls were found to be inadequate, the investigation found.

Charging ban to cost IFAs up to £400k a year

These costs include both compliance costs arising from the regulator’s interventions and the loss of revenue for adviser businesses

Deutsche Bank Pays $10.25M in Reporting Failures, Spoofing Settlements

The consent order stems from a complaint filed in August 2016, after an unprecedented swap reporting platform outage at Deutsche Bank that began on April 16, 2016.

DC Advisory advised Fidelius Group on its strategic alliance with Pacific Asset Management

The proposed terms of the strategic alliance involved a share swap arrangement whereby

China Pacific Insurance List GDRs in London

China Pacific Insurance received clearance to list in London from the CBIRC (China Banking and Insurance Regulatory Commission) in May and the CSRC (China Securities Regulatory Commission earlier this month.

With consolidation, Raisin takes on European promise of single market

The consolidation means Raisin can now offer uniform banking services to all of its continental European customers.

IMA Releases New Reports on the Role of CFO in Sustainability

Reports analyze integration of finance professionals in sustainable business activities

FCA makes mini-bond marketing ban permanent

This includes bringing listed bonds with similar features to speculative illiquid securities and which are not regularly traded within the scope of the ban.

Firms must do more to ensure that they are always giving appropriate equity release advice, FCA review finds

The FCA’s review found equity release to be working well for many consumers.

TPR launches interim regime for DB superfunds

Guidance will help protect savers and give employers and trustees more choice ahead of Government legislation

COVID-19: FCA updated guidance on mortgages

The FCA states that firms should give customers adequate information on support offered

Coronavirus and UK tax-exempt artworks and heritage assets

The owners of a national heritage property should follow the relevant public health authority’s social distancing guidance.

A financial system to support the recovery

Speech by Charles Randell, Chair of the FCA and PSR, to a virtual roundtable of bank chairs hosted by UK Finance.

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