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

Workplace coronavirus safety rules must be binding, says Labour

Keir Starmer criticises government’s draft guidance as ‘pretty vague’ and calls for enforcement of common set of standards

Five headaches for the Bank of England as Covid crisis bites

The Bank is weighing up the prospect of more stimulus as it seeks to prevent deep economic scars from coronavirus

UK and US begin talks on 'ambitious' post-Brexit free trade deal

International Trade Secretary Liz Truss says a deal will help the countries' economies "bounce back" from the COVID-19 pandemic.

FCA pilots digital sandbox

There is also an important convening role for us to play, helping to enable greater collaboration to solve complex industry-wide problems.

PRA updates statutory powers and enforcement webpage

Our ‘Regulatory investigations guide’ provides, at a high level, a ‘roadmap’ of our investigation

EBA updates ITS on benchmarking of internal approaches for 2021 benchmarking exercise

In order to analyse potential sources of variability stemming from the implementation of the new accounting standard (IFRS 9), two annexes have been introduced.

EU to beef up scrutiny of money-laundering risks, adds Panama to list

The revised money-laundering list, expanded to include 22 from 16 states, is set to take effect from October.

Metamorph Group acquires Yorkshire-based national law firm

This latest Metamorph acquisition strengthens the group’s national coverage particularly in residential conveyancing and remortgage services.

Telework becomes compulsory in Monaco

Telework is also highly recommended and therefore facilitated as long as this health crisis lasts.

Dutch Central Bank to Crypto Firms: Register in 2 Weeks or Shut Down

The deadline comes as Dutch crypto firms level heavy criticism at a law they call burdensome to the industry at large

Malta's regulator publishes list of unlicensed digital currency firms

The island is known for its pioneering approach to fintech

National Advisory Group Highlights Hidden Traps in Acceessing Pensions to Bridge Short-Term Income Gap

This rule was designed to prevent savers from taking advantage of Pension Freedoms introduced from 2015, by taking money out of their pensions and recycling it back in to claim a second slice of tax relief on the same money at a later date.

Gold is well-positioned as a hedge against inflation risk from expansionary fiscal and monetary policies

This goes against gold’s embedded characteristics, but we think that the unique circumstances at the time of that selloff are likely in the rear view.

Banks baffle investors as art meets science in accounting rule

Diverging economic forecasts make it harder for investors to understand the banks’ models

Banking & Payments Predictions 2020: Compliance

Already in wealth, the likes of MiFID have driven some firms to exit the industry entirely, conferring an advantage on some startups, while disadvantaging others that don’t have a mature compliance function.

France becomes latest country to ban companies registered in offshore tax havens

Of France’s €110 billion package, four billion has been reserved for struggling startups, while €20 billion is being kept for larger firms, such as Air France.

Guernsey regulator fines wealth company directors £60000

Following consideration of the investment advice in the client files, the Commission noted that CWM was advising on and promoting Structured Notes

The key role of compliance in business continuity

Compliance is central to our client’s success and working with service providers that can set up structures quickly, efficiently and within the limits of the local and global legislation and regulation is a key requirement.

Central Bank of Ireland Highlights Key Investment Funds Issues for Current Market Uncertainty

The letter refers to the regulatory flexibility already provided in terms of reporting and that the Central Bank has clarified that it will apply the measures set out by ESMA in recent weeks.

Law firm readies to bring 'hundreds of claims' to FSCS

The FSCS to date has received fewer than ten claims against Liberty Sipp, which fell into administration last week (April 27) after the provider lost its battle against mounting claims.

Legal, Regulation & Compliance