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

Carey Olsen and Slaughter and May advise the States of Jersey on financing its response to COVID-19

The States of Jersey appointed Carey Olsen and Slaughter and May to advise on the RCF.

FCA recognises expiration and termination of European short selling bans

The European Securities and Markets Authority has coordinated the recent emergency restrictions renewals and has contributed to this aligned action yesterday.

Weekly Tax Brief - 19 May 2020

The UK was quick to introduce different forms of excess profits taxes during both the First World War and Second World War

Probate and estate planning administration for non-Guernsey domiciliaries

The Guernsey Ecclesiastical Court issues a Grant of Probate if the deceased left a Will or a Grant of Administration if they died intestate.

EU Exit: Government releases draft CFTA

The UK’s approach to negotiations with the European Union.

EU Commission launch of AML/CFT action plan

The Commission intends to deliver on all these actions by early 2021.

IFM notification on fund issues and large redemptions via CSSF eDesk

The CSSF has now extended this monitoring to a greater number of IFMs and has integrated the accompanying notification process into its eDesk portal.

£6.4m of illicit funds held in City bank seized

After conducting its own internal investigation, the bank alerted the NCA, which established the scam and began court action to seize the money.

Coronavirus FAQs for UK employers: returning to a safe working environment

Employer’s liability insurance provides cover for certain kinds of employer liability such as breach of the duty of care or breach of statutory duty

PwC fails to dismiss £25m negligence claim over Guernsey ‘Ponzi scheme’

Auditor accused of failing to uncover fraud at fund that collapsed, owing investors £40m

Swedbank chief sets ‘big hairy goal’ after scandal

Jens Henriksson insists the lender can move on from money-laundering investigations

Coronavirus Statutory Sick Pay Rebate Scheme set to launch

Employers will be able to make claims through the Coronavirus Statutory Sick Pay Rebate Scheme from 26 May.

Reducing the Risks of Returning to the Workplace – Key Issues for Irish-Based Employers

Care should be taken when selecting employees to return.

Government considering 'air bridges' to countries with similar Covid-19 infection rate

He also confirmed that the quarantine measures would come into place in June, not at the end of May as Johnson had said.

EU, Caribbean Nations at Loggerheads Over Money Laundering Blacklist

The EU blacklist uses the FATF monitoring list as a starting point and serves as a way to hold the included countries accountable since the FATF has no enforcement ability of its own.

How will ESG shape the future of funds, corporations and family businesses?

In general terms, family businesses have also looked to embrace ESG factors as part of more sustainable business models, and the result is more frank and open discussion about complex ESG themes, both by younger and older members of the family.

English Court ruling demonstrates Unexplained Wealth Orders shouldn’t be taken on face value.

Update prepared by Christopher Edwards (Partner, Guernsey) and Jeremy Bell-Connell (Associate, Guernsey)

Govt bans dividend payouts for firms using loan scheme

The ban is a further blow to income investors, who are facing at least a £30bn dividend short-fall this year as companies including banks and insurers scrapped payouts to shareholders amid the crisis.

St.Galler Kantonalbank and CREALOGIX renew long-term, strategic digital partnership

The long-standing partnership between SGKB and CREALOGIX in terms of software and innovation is entering a new phase.

Investing in Women Code

The Investing in Women Code is a commitment by financial services firms to improving female entrepreneurs’ access to tools, resources and finance.

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