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

FSCS pays out £5.9m on offshore property advice

The lifeboat scheme has also adapted the way it calculates perceived losses stemming from the investments, valuing many at nil to allow for claims.

Pension giant and BNP Paribas AM unite for climate lobbying effort

Swedish fund, French investment house and Church of England Pensions Board announce tie-up to develop framework.

FCA updates webpages on reporting market abuse

Firms and individuals professionally arranging or executing transactions in certain financial instruments, and operators of a trading venue, must report suspicious transactions and orders (STORs) to us without delay.

EU Commission roadmap on EU standards for green bonds

The Commission will summarise the input received in a synopsis report

Several arrests made in sweeping police operation linked to Latvia's ABLV Bank

The locations included a credit institution, several companies, as well as suspects' workplaces and homes.

Walkers Wins Four Finance Dublin Deals of the Year Awards 2020

The annual Awards acknowledge excellence under six broad categories within the financial services sector in Ireland

FCA final guidance on assessing adequate financial resources

This guidance does not place specific additional requirements on firms because of Covid-19, but the crisis underlines the need for all firms to have adequate resources in place and to assess how those needs may change in the future.

FCA and ESMA announcements on open access regime for exchange-traded derivatives

ESMA’s statement(link is external) issued today recommends relevant Competent Authorities have regard to the risks raised by COVID-19 in relation to open access for exchange traded derivatives.

ESMA renews decision requiring net short position holders to report positions of over 0.1%

The EFTA Surveillance Authority, in cooperation with ESMA, adopted a corresponding decision today, also effective as of 17 June, applicable to EEA EFTA States' markets

ESMA produce cloud outsourcing guidance for investment banks and service providers

Credit institutions are already subject to the EBA's outsourcing guidelines

US expands digital services tax investigation to cover UK and EU

That has not stopped the UK proceeding with its digital services tax; but then, faced with post-Brexit trade negotiations with the US, the UK was never going to give away a playing card before that process truly gets going.

Ten day fast track regime boosts Guernsey's appeal to migrating fund managers by Kate Storey

The fast-tracking would apply for either a general partner of a non-Guernsey limited partnership, or a standalone manager wishing to move domicile to Guernsey.

DAC6 reporting obligation deferred by 6 months

The 3-month deferral for DAC2 initially proposed by the European Commission on 8 May 2020, is maintained.

Covid-19: Flexibility regarding reporting for banks and financial service providers

It also specifies that the leeway it applies will be closely coordinated with national authorities, the ESAs as well as the European Central Bank.

FMSB Spotlight Review on nvaigating conduct risks in LIBOR transition

While the LIBOR transition presents market participants with unique challenges, many of the conduct-related risks, and the means of managing them, are not novel.

Swiss private bank has Cayman Islands licence revoked

Regulator says it failed to appoint appropriate directors and meet AML protocols

Bowmore Wealth Group takes shape

Chartered Financial Planner and Discretionary Fund Manager join forces

Lloyds fined £64m over treatment of hundreds of thousands of customers

Lloyds said that all customers affected had already been contacted and reimbursed.

Germany should make provisions to ensure banks have sufficient capital: OECD

The OECD said on Wednesday that the global economy will suffer the biggest peace-time downturn in a century before it emerges next year from a coronavirus-inflicted recession.

IFA jailed for four years over £300,000 fraud

He stole money from employer and clients to fund gambling addiction

Legal, Regulation & Compliance