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

Not content with Brexit harm, Reform plans pensions raid

Nigel Farage’s party is flirting with the idea of setting up a sovereign wealth fund, but I smell a rat

More EU investment, regulatory reform and policies needed to reach net zero, says ECB

The EU has committed to reaching net zero by 2050 and while it has reduced its emissions by 37% since 1990, more is needed as current policies are only likely to result in a 55% reduction by 2030, the paper finds.

FCA opens authorisation gateway for targeted support

Firms can now apply for permission to provide targeted support.

The EBA responds to the Commission’s proposed amendments to the draft technical standards on equivalent legal mechanism

The EBA considers that two of the Commission’s proposed amendments introduce substantive changes that are not consistent with the prudential safeguards underpinning the preferential treatment for residential property exposures.

Payments Vision Delivery Committee publishes Payments Forward Plan

Recent publications on open banking, stablecoins and contactless limits, alongside the initiatives in the Plan, show the high level of activity across the sector.

The EBΑ concludes work on legacy instruments monitoring

The phasing out of legacy instruments is essential to maintain a clear subordination ranking within institutions’ capital structures and to avoid unnecessary complexity in the prudential framework.

ESMA sets out clearing thresholds under EMIR 3

The proposed thresholds ensure continuity in the coverage of systemic risk in over‑the‑counter (OTC) derivative markets while avoiding unnecessary complexity and additional compliance burdens for market participants.

Scams and fraud dominate French banking executives’ concerns, shows new report

In addition to quizzing French banking leaders about the financial losses of fraud, BioCatch also surveyed them on the types of fraud and scams they’re most concerned about.

Carey Olsen advises on Guernsey’s first Natural Capital Fund designation for Gresham House

The Gresham House fund has been granted the Natural Capital Fund designation by the Guernsey Financial Services Commission.

FCA proposes action to close gaps in borrowers’ credit files

Lenders could have access to more comprehensive information to support lending decisions, under new proposals by the FCA.

Crispin Odey cleared to put UK financial regulator’s ‘animus’ on trial

FCA had attempted to block parts of the financier’s legal arguments ahead of March trial

Turning size into scale: Europe’s new growth model

There is perhaps no greater question in political philosophy than whether history is shaped by individuals or by the forces that carry them.

The EBA publishes follow-up Report on ICT risk assessment under the Supervisory Review and Evaluation Process

The follow-up exercise reviewed the recommendations issued to competent authorities in 2022, including a targeted follow-up on relevant benchmarking questions.

Influencers fined for issuing unauthorised financial promotions

These influencers betrayed the trust of those who followed them.

Statement on notifications relating to admissions to trading and recent changes to the UK Listing Rules

The policy intention was to support transparency in a proportionate manner by enabling issuers to group admissions occurring within a 60-day period into a single notification.

EU and UK Strike Deal to Strengthen Banks’ Digital Resilience

The agreement sets rules for banks to manage digital risks and third-party providers

Tribunal upholds bans and fines for reckless adviser and fund manager

The FCA intervened in 2016 to protect consumers, stopping the pensions business of Synergy and Westbury. Both firms subsequently went into liquidation and were dissolved.

PRA rule changes to accommodate HM Treasury’s Overseas Prudential Requirements Regime

The consultation paper will explain if responses will be shared with other organisations (for example, the Financial Conduct Authority).

CP3/26 – PRA rule changes to accommodate HM Treasury’s Overseas Prudential Requirements Regime

The consultation paper will explain if responses will be shared with other organisations

ECB welcomes extension of Frank Elderson’s term as Vice-Chair of the Supervisory Board

Frank Elderson’s term of office as Vice-Chair of ECB’s Supervisory Board extended until end of his term as ECB Executive Board member

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