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

Accessing retail clients is a worry for UK firms post Brexit

Pimfa chief admits ‘the critical point for us is we want time’ after Brexit inquiry opens

Changes to align the FCA Handbook with the EU Prospectus Regulation

It also applies to firms and persons who invest in or deal in transferable securities through public offers or regulated markets in the UK.

CFA Institute to oversee fiduciary manager performance standard

The right language could make a single standard applicable globally even if regulatory requirements varied geographically, he said.

New rules for UK retirement income products

It is also proposing that a consumers' pension investments not be defaulted in cash savings, unless the option is actively chosen by the consumer.

Perspective starts year of purchases with Newcastle IFA

The firm’s managing director Alan Galloway retire after continuing to work with Perspective while clients are transitioned.

Japan Adequacy Decision Adopted by the EU Commission

One of the circumstances where international transfers are permitted under the GDPR is where the EU Commission has passed an “adequacy decision” in relation to the country

Happy Data Protection Day! GDPR, no deal Brexit and the Crown Dependencies

GDPR has brought awareness of privacy rights to the forefront of many businesses' agendas

Serbia's AIK plans new bid for all of Slovenian Gorenjska Banka

The bid price was not disclosed but AIK last year offered to pay 298 euros per Gorenjska share

Moscow banker: Russian money launderers entranced by Danske's trustworthy name

Russian law enforcement authorities will start helping the Estonian prosecutor's office and police in investigating the large-scale money laundering in Danske's Estonian branch

Bentley Has A Serious Brexit Problem

But not all is lost.

Death of the 500 euro note, bill favoured by criminals … and Germans

The banknote’s death warrant was signed in 2016 when the ECB formally ended its production over concerns it could ‘facilitate illegal activities’

Basel Committee finds liquidity risk principles still fit for purpose

The Basel Committee on Banking Supervision has confirmed that its 2008 principles for sound liquidity risk management and supervision remain relevant and fit for purpose.

Offshore company beneficial ownership registers and trusts: By Ashley Fife,Carey Olsen

Families who have established, or are looking to establish, trust structures ought to be comforted to some extent

Open banking: clarity provided for banks over 'opt outs' and revoking consent

The views expressed by the European Banking Authority (EBA) build on other guidance banks have been given in relation to customer consent in the context of open banking.

Further regulatory perils await unwary financial sector

Perhaps due to the sheer volume of regulatory changes, a quick-fix approach still prevails in the industry.”

DFSA Enforces Fine in the UK Against Sanctioned Individual

While Mr Grimes did not challenge the DFSA’s findings against him, he failed to pay the fine by the date it was due.

FCA sticks to guns on pension pathways

The FCA is proposing rules that will require firms to give consumers warnings about holding investments in cash and to improve disclosure of charges

Billions of euros in Satabank transactions deemed 'highly suspicious'

'This makes previous money laundering cases look like child's play'

EU puts Saudi Arabia on blacklist for lax control on money laundering

Last year, Saudi Arabia failed to get full membership in the Financial Action Task Force

France plans to force heads of big firms to be tax resident

In his interview, he said legislation he'll propose in "the coming months" will target large companies including those listed in the main Paris stock exchange and companies where the government holds stakes.

Legal, Regulation & Compliance