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

ESMA Publishes Consultation Paper on Regulatory Technical Standards (RTS) for Open-ended Loan-originating Funds

The RTS set out the requirements with which Loan-Originating AIFs are to comply in order to maintain an open-ended structure.

FCA charges John Dance with offences related to WealthTek

The FCA alleges Mr Dance laundered the proceeds of his criminality through his personal and business bank accounts

Swedish SEB will consolidate its Baltic banks into one

The new legal structure is also expected to benefit SEB’s retail customers in the Baltic region.

PS20/24 – Solvent exit planning for insurers

The PS will refer to all of these collectively as ‘insurers’ or ‘firms’ unless otherwise specified.

Payment cycles: An update on the Future Roadmap for the RTGS service - speech by Victoria Cleland

Given at FinTech Connect on 5 December 2024

ESMA releases last policy documents to get ready for MiCA

FCA responds to High Court motor finance judicial review decision

The Court dismissed all 3 grounds of appeal brought by the lender, Barclays Partner Finance.

FCA seeks feedback on plans to improve the transparency of the UK’s crypto markets

This will reduce fraud and help promote good practices in the sector.

Spanish Golden Visa Program Set for Potential Changes by 2025

This development creates a limited window of opportunity for individuals interested in securing a Spanish Golden Visa under the current regulations.

The Chancellor’s Mansion House Speech and other regulatory updates for financial institutions

Millions of people could get more support with their pensions under new proposals

Making sure consumers can make informed investment decisions is an important part of ensuring healthy capital markets which deliver growth.

Investigation: How £3.4bn of debt has changed the face of financial advice

Citywire investigation reveals the most detailed picture yet of the levels of borrowing fuelling consolidators’ adviser acquisitions, uncovering previously unreported debt issued by Guernsey, Jersey and Cayman Islands parent companies.

The Governing Council of the European Central Bank lowers interest rates

Press release on the ECB’s monetary policy decisions

ECB signals it is on the road to normal

Second, the ECB’s economists now expect inflation to return to the target earlier.

FINMA concludes proceedings against Leonteq

LTQ cooperated well with FINMA during the proceedings.

Firm takes fight against FIAU fines to European Court of Human Rights

A landmark judgement overturned a previous decision that ruled the fines were unconstitutional

Small advice firms urged to appoint Consumer Duty ‘critical friend’

The regulator has published the findings of its review into firms’ approaches to completing the first annual Consumer Duty board report.

CP19/24 – Closing liquidity reporting gaps and streamlining Standard Formula reporting

The response will be assessed to inform our work as a regulator and central bank, both in the public interest and in the exercise of our official authority.

The end of UK resident non-doms and the benefits of life insurance

Most importantly, if an individual’s circumstances or IHT legislation changes, the policy can be adjusted.

The EBA consults on draft technical standards that specify material changes and extensions to the Internal Ratings Based approach

Under the CRR, institutions shall apply for approval from their competent authorities prior to implementing material extensions and changes to their internal approaches.

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