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

City lawyer accused of intimidation campaign on behalf of Gulf clients

Dechert partner denies High Court claim over ‘interrogation’ of emirate’s captive

BoE slashes growth forecasts for three years but holds rates

The bank’s quarterly forecast revealed they are expecting the economy to have flatlined at the end of 2019.

Vanguard claims it is 73% cheaper than market

Vanguard’s assessment of value report is the first to be published by the asset manager since the new Financial Conduct Authority rules mandating the reports have been implemented.

Markets Committee calls for wider adoption of global code of conduct for foreign exchange markets

The Markets Committee recommended exploring additional ways to encourage adoption of the Code in buy-side firms.

EU Investment Firms Directive And Regulation: Overview Of New Prudential Regime For 2021

The IFD/IFR includes new and detailed provisions on capital requirements, liquidity, reporting, disclosure and remuneration.

UBS Europe probed in Italy in asset manager fraud investigation: sources

Prosecutors have looked in to whether Sofia committed fraud by applying higher-than-average fees to 117 clients

Furious lawyers berate their firms for ‘dismal, bargain bucket’ pay

In second-to-last spot, a senior lawyer at Blake Morgan (28%) said that he hadn't received any "pay rise in 3 years...Not even to match inflation!"

Regional lawyers bemoan huge salaries of London colleagues

One Cambridge lawyer complained that salary should rise "to reflect the cost of living".

Russia puts out arrest warrant for ex-banker in embezzlement case

A spokesperson for Mints said the case appeared to be an attempt to intimidate him and his family.

Netherlands delays beneficial ownership register

Under the original Bill, each corporate or other entity incorporated or founded in the Netherlands must obtain and register information on the persons who ultimately own or control them.

CBI Enhances Asset Suitability Review for UCITS Applications

The UCITS regime contains various requirements designed to support investor protection, including rules around eligible assets, diversification, liquidity, valuation, risk management, compliance and oversight and safekeeping of assets.

LIBOR Transition: Litigation Risk Observations on Suite of Documents Published by the Regulators in January 2020

The latest publications build on the warning given by the FCA at the end of 2019 about conduct risks during LIBOR transition and proposed next steps, as discussed in our banking litigation blog post.

Lloyds Banking Group set to close 56 bank branches

So far, all branch closures have been managed without compulsory redundancies and Accord expects the same outcome here.

Sharp rise in equity savings accounts in Norway

The transition period enabled shifting existing investments in equities and equity funds into an account without triggering a tax payment on gains.

AML, KYC and Sanctions Fines for Global Financial Institutions Top $36 Billion Since Financial Crisis

Fines related to AML, KYC and sanctions violations increased in the 15 months since the last Fenergo report by 160% as the ramifications from the global financial crisis bear a significant impact.

For whom the Brexit bell tolls

Good advice, even if its scope is vague – but how helpful is this going to be in practice?

Police investigate "several" Latvian non-resident banks

Police have conducted investigations at various Latvian banks associated with the non-resident banking sector, according to unofficial information reported by Latvian Television (LTV) January 29.

Danske’s EY Auditors Face Disciplinary Action for Failures

Last year the Business Authority reported to police the local operations of Ernst & Young, which was the external auditor on Danske’s 2014 financial report.

Banque de France Governor: Fintech now at “core” of financial system

France’s fintech scene has somewhat lagged other European countries in terms of development in recent years but has started to gear up more recently.

Carey Olsen's Russell Clark named Crown Dependencies lawyer of the year for second consecutive time

Russell, who also heads up the trusts and private wealth practice in Guernsey, was shortlisted for the 2020 award alongside nine other private wealth lawyers from Guernsey, Jersey and the Isle of Man.

Legal, Regulation & Compliance