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

CMA publishes loyalty penalty update

The CMA has reported on the progress made in tackling the loyalty penalty that impacts millions of people.

Woodford fund shows vulnerable side of shadow banking, regulator says

By contrast, the growth rate averaged 8.5% annually in 2012-17, when shadow banking grew rapidly as banks faced heavier regulation following the 2007-09 financial crisis.

McMafia law to target drug dealers’ millions

THE McMafia law could be used to strip county lines drug dealers of assets, even if police do not have enough evidence to charge them.

Hopes of bumper year for City deals are given a lift as buyout barons move in on top UK bailiff

City sources said Inflexion secretly agreed to buy about 45% of Marston

Carey Olsen leads on three chapters in latest edition of Trusts in Prime Jurisdictions

Mr Robinson said: "The book is an incredibly useful reference tool to the global trusts and private wealth sector

Global banks hit with £6.2bn in fines

This is double the amount, and nearly double the value, of penalties handed out in 2018, when 29 fines of $4.27bn (£3.2bn) were imposed.

House of Lords European Union Committee letter on proposed Taxonomy Regulation

The Government’s Green Finance Strategy noted that the UK would “match the ambition” of the EU’s Sustainable Finance Action Plan

Sainsbury's Bank urged to move borrowers to a regulated lender after pulling out of mortgage market

The bank has refused to rule out selling the loans to a private equity firm

FCA data on mortgage prisoners

Following our Policy Statement on the changes to the responsible lending rules, we have published further data on the mortgage prisoner population.

The death of LIBOR and the afterlife

LIBOR was developed and launched in the mid-1980s by the British Bankers Association.

FCA blindsided by investment fund suspensions

Regulator admits it does not track frequency of funds that block investor withdrawals

Mortgage currency quirk favours UK and expat buyers in Spain

Note the opposite is also true, though, your home currency could decline, which makes your debt more expensive.

Why The Euro Is Starting To Resemble The Yen

Companies are borrowing at lower interests in Europe than in the United States.

Poland and Germany to be top beneficiaries of 100 bln euro EU climate fund

Poland did not sign up to the 2050 neutral-emissions goal, arguing its energy systems and economy were too dependent on coal and lignite to make the transition in that time.

Sale of Piraeus Bank’s Bulgarian subsidiary to Eurobank did not breach EU state aid rules, EU Commission says

Eurobank, Greece’s third-largest lender, announced in June 2019 that its Bulgarian subsidiary Postbank concluded on the acquisition of Piraeus Bank’s Bulgarian unit after obtaining regulatory approvals, – a process that started in Novemb

Jaime Botin is sentenced to prison in Picasso Smuggling fiasco

Prosecutors argued that Botin was smuggling the painting out of Spain -- instructing the captain of his yacht to lie to law enforcement -- with the objective of selling it at a London auction house.

FCA new money laundering and terror funding watchdog

They aim to stop criminals using professional services to launder money by requiring professionals to take a risk-based approach.

Lords consider shake up of IHT rules

Assets and protection policies held in trusts are removed from an individual's estate and are therefore exempt from IHT.

Freshfields' former Global Head of Tax charged with fraud

The arrangement involved treating a share as having two owners, so that both parties could receive a refund of capital gains tax which only one of them had actually paid.

Carey Olsen continues as leading legal adviser to Guernsey's investment funds industry

The findings of Monterey Insight follow the publication of the latest Chambers UK and Legal 500 UK rankings at the end of last year

Legal, Regulation & Compliance