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

M&G UK Property Fund shuts door on investors wanting cash

The fund is held by institutional investors including large pension schemes, some of which have decided to cut their exposure to property.

G7 finance ministers look to rein in tech giants at French meeting

The issue has become more vexed than ever in recent days as Paris defied U.S. President Donald Trump last week by passing a tax on big digital firms’ revenues in France despite a threat from him to launch a probe that could lead to trade tariffs.

Island Exchange Tied to Woodford Stood Up by U.K. Watchdog

The exchange previously outlined concerns to the U.K. regulator about the valuation of certain assets in Woodford’s flagship fund, days after the manager suspended investor redemptions.

Enforcing security over Guernsey real property

The saisie begins with the Principal Creditor obtaining a PVO from the Royal Court, normally at the same time as the initial summons issued against the Debtor if he/she has not responded to the letter before action.

LSB increases threshold of the Standards of Lending Practice for business customers

Taking note of concerns around debt sale, the Standards also include an enhanced level of LSB oversight in this area.

ESMA Amends Enforcement Decisions for Nordic Banks Following Appeal

Based on this decision, ESMA decided that the only appropriate supervisory measure in the four banks’ cases were public notices regarding the banks’ infringements and that no fine will be imposed, in accordance with CRAR.

EBA amends implementing technical standards on supervisory reporting with regard to financial information

These final draft ITS amending the European Commission's Implementing Regulation (EU) No 680/2014 on supervisory reporting with regard to FINREP aim to improve the reporting requirements on non-performing exposures and forbearance in order to strengt

Regulator investigates phoenixing employers

A number of investigations are now ongoing in cases involving scores of employees who have been denied the pensions they are entitled to.

Guernsey plays its part in OECD success against tax evasion

The FBI recently highlighted to American senators the “immense value” of Guernsey’s information sharing in helping to combat financial crime.

Commercial Court adopts broad interpretation of investment bank fee clause in equity and debt finance raising

The dispute related to the construction of two key defined terms – the “Project” and the “Transaction” – both of which were criticised by the court for lacking clarity.

ING’s Belgian Unit Fined for Money-Laundering Violations

ING Belgium was hit with the penalty on April 24, Julie Kerremans, a Brussels-based spokeswoman for the unit, said in an emailed statement on Sunday.

Russia: 30 Fake Firms and 4 Billion Rubles Later, 10 Will Stand Trial

“Through these organizations, cash withdrawal of unaccounted money in circulation – ‘black cash’- was made and a large-scale income was extracted,” the ministry said.

New EU leadership needs to pick up baton of fiscal union

Leadership will have to do more to secure economic and monetary union 2.0

Latvia fines Rigensis Bank for lax anti-money laundering controls

Rigensis Bank, which mainly serves non-resident clients from countries such as Russia and Belarus, did not immediately respond to a request for comment.

Ex-Kingsley Napley partner fined over £1.5m estate payments

This grant gave the client the authority to get in the assets of the deceased, but not to deal with those assets or make payments from the estate.

RDJ Private Client practice ranked by Chambers HNW 2019

Chambers describes the RDJ team as “decisive”.

Whistleblowers need independent office to protect them, say MPs

Existing laws leaving staff who speak up exposed to abuse by their employers, says report

The FCA is to launch a new platform to replace Gabriel

Gabriel is our main regulatory data collection system, facilitating the collection of over 500,000 submissions annually, across 120,000 users and 52,000 firms.

Santander offered a €52m sign-on to Andrea Orcel

Formal offer letter shows how much bank was prepared to pay up for new CEO

LIBOR: preparing for the end

Speech by Andrew Bailey, Chief Executive of the FCA, at the Securities Industry and Financial Markets Association's LIBOR Transition Briefing in New York, USA.

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