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

Hastie Stable rebrands

The change marks the commitment of the members to excellent client focused advice and representation.

FCA becomes AML and CTF supervisor of UK cryptoasset activities

The FCA is now the anti-money laundering and counter terrorist financing (AML/CTF) supervisor for businesses carrying out certain cryptoasset activities under the amended Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs).

Regulation of Crypto Assets

Crypto-investors and users, as well as crypto-asset service providers, are exposed to high risks.

MIFID II: ESMA Issues Latest Double Volume Cap Data

As of 9 January 2020, there is a total of 421 instruments suspended.

Happy New Year – Happy New Money Laundering Regulations

The Regulations will extend the scope of the MLR so that additional types of firms will become subject to AML compliance requirements

Sponsors restrict loan sales in private debt market

Historically, syndicated loan investors were able to sell paper to third parties, then sponsors clamped down to prevent distressed funds buying up debt via white lists of acceptable buyers.

Vanguard to wade into UK advice sector

Famously low-cost, its arrival could herald a big change for wealth management fees

ESMA Grants LEI Reporting Relief to Non-EU Issuers Under SFTR

The guidelines aim to clarify a number of SFTR provisions and provide practical guidance on implementation.

Cross-border transactions face EU anti-money laundering overhaul

The demand for greater scrutiny over high-risk international transactions is not new for banks in the EU.

Polish prosecutor indicts former head of financial regulator

PiS has long campaigned on a promise to root out corruption in what it describes as self-interested liberal elites.

Dutch banks are freezing accounts under FATCA

An approximate 1,000 ‘accidental' Americans live in the Netherlands.

ESMA Announces Key Priorities for 2020-22

ESMA must embed technological innovation, sustainable finance and proportionality in its activities

The FCA commences civil proceedings in relation to alleged unauthorised deposit takers

The FCA alleges the defendants have been carrying on unauthorised deposit taking by accepting money from the public for different projects, including forex trading and crypto-assets.

Slovenian central bank asks top court to rule on bank rescue compensation law

“The generally accepted stand in the EU is that it is not a task of the central bank to save (commercial) banks.”

Appleby Bursary Scheme Awarded to two Manx Students

Both candidates have secured training contracts with Appleby following their studies.

Art and money laundering: The U.K. enacts new art laws and all buyers and sellers need to pay attention

Regardless of the jurisdiction, all art transactions carry risk.

Richest Nordic Nation Gets a Banking Giant After Rates Diverge

Norway's main rate is 1.5% after cycle of hikes Norway stands out as one of the world’s richest nations.

Julius Baer contests renewed claim by liquidator of Lithuanian firm

The Bank continues to contest the claim vigorously while taking appropriate measures to defend its interests.

Carey Olsen remains leading agent for TISE listings

The company also completed more high yield listings than any other listing agent, acting in connection with half of all high yield bonds listed on TISE last year, reflecting its position as the market leader in this area.

Minibonds to cost FSCS millions

The FSCS pays compensation up to a limit of £85,000, so bondholders with investments exceeding this amount will still lose money.

Legal, Regulation & Compliance