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

Vultures scramble for cash as Irish gamble backfires

This is at a time when mortgage rates in this country are falling.

FATF Executive Secretary David Lewis on preventing money laundering

As a task force with a global network of over 200 jurisdictions, the FATF enables a coordinated response to a global problem and it promotes partnership between the public and private sectors.

CAYLUX Fund Finance briefing

In this briefing we summarise why they are used and explain one way in which investment managers are using Cayman and Luxembourg fund vehicles together.

Channel Islands: Year in Review

Global macro-economic uncertainty, regional political disruptions, economic substance rules, beneficial ownership registers, regulatory fines and that’s not the half of it!

Goodbye LIBOR, Hello SOFR By Katherine Pearce and Nick Nolan

With LIBOR ending, the LSTA has laid out several key considerations that accounting systems will need to address moving forward.

HSBC to pay $192m penalty in US tax evasion case

Private banking arm of UK lender admits to hiding more than $1bn from authorities

FCA threatens action against Lloyds bosses

The FCA said it expects senior management at Lloyds to explain how and why the failings occurred and threatened further action depending on the answers.

Six advisers on how they prepared for SMCR

Under the rules, there will be greater individual accountability for senior managers should something go wrong, as well as a new standard for personal conduct.

EU and African banks sign $120 million climate action facility

This is the second line of credit to be extended by EIB to TDB, the first one having been signed in 2014 for €80 million.

Insurance scammers facing 10 years in jail for perjury

Government will fast-track law aimed at crackdown on 'compensation culture'

ESMA report on EMIR penalties and supervisory measures

The Report found that some supervisory areas are highly harmonised, such as NCAs’ sources of information used to check compliance with EMIR requirements, including trade repository data, their competences, and NCAs’ supervisory and enforcement

EBA updates its guidelines for the reporting of funding plans

The guidelines also introduce some simplifications for small and non-complex institutions to enhance proportionality and reduce reporting costs.

FSB reports on BigTech in finance and third party dependencies in cloud services

The entry of BigTech firms into finance has numerous benefits, including the potential for greater innovation, diversification and efficiency in the provision of financial services.

Mifid II creates ‘existential threat’ for small research groups

Boutiques hit by ‘perfect storm’ two years after introduction of EU market rules

The Great Moscow Bank Shakedown

Cherkalin, 38, was a key figure in the insular—and, for some, apparently highly lucrative—world of bank supervision.

Belgian lawyer guilty in 'Catch Me if You Can' Swiss money-laundering case

The three-judge tribunal also ordered confiscation of tens of millions found in accounts.

Morgan Stanley hit with €20m fine for OAT, OLO price manipulation

The Committee found that the company had secured the price of the September 2015 FOAT traded on Eurex, as well as the price of 14 of the 17 OATs and 8 OLOs, at an abnormal and artificial level.

Watchdog investigates funds with Woodford holdings

Earlier this year Hargreaves faced a loss of about £1.9m in fees from the Woodford debacle as investors pulled millions from the firm’s in-house funds.

‘I lost my £193,000 inheritance – with one wrong digit on my sort code’

When Peter Teich’s money went to another Barclays customer, the bank offered £25 as a token gesture

Watchdog asks UK for transparency in tycoon’s settlement

Although there is scant information about the specifics of the case, returning seized funds to the country of origin, as is proposed, is an obligation under the UN Convention Against Corruption.

Legal, Regulation & Compliance