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

UK reaffirms commitments to Jersey in Brexit negotiations

The letter provides confirmation that these objectives have been secured.

2018 G-SIBs list and framework

One bank has been added to the list and two banks have been removed from the list and therefore the overall number of G-SIBs decreases from 30 to 29.

FSB reports: Correspondent banking

Access to correspondent banking relationships remains a critical issue in some regions and jurisdictions.

Promoting the UK as an investment destination

Chief Secretary to the Treasury, Elizabeth Truss visits Latin America to build relationships with Brazil and Chile.

Financial services legislation under the EU (Withdrawal) Act 2018

HM Treasury’s programme of secondary legislation to ensure that the UK continues to have a functioning financial services regulatory regime in all scenarios, when the UK leaves the EU in March 2019.

FCA issues scam warning over wealth management firm

This firm is not authorised by us and is targeting people in the UK.

Romania to set up sovereign wealth funds for investment

The legal form of organizing these sovereign funds is that of Romanian joint-stock companies under terms to be established separately under government decisions.

Aviva apologises for breaching FCA transparency rules

Aviva has sent an email to affected customers apologising

Regulation round-up November 2018

Regulation round-up is our monthly email to all regulated firms, updating you on the latest news that affects your sector.

ESMA Reports on NCAS' Use of Sanctions and Administrative Measures Under MAR

MAR foresees administrative sanctions for infringing the Regulation, which depending on the gravity of the infringement, can amount up to 5,000,000 Euros.

Sexual harassment: is it fit and proper? - Withers

The FCA appears not to have thought about how it will approach its analysis of these types of allegations.

Police end investigation into head of international pensions firm STM

Last month STM, which provides international tax planning, acquired the troubled UK Sipp provider Carey Pensions in a deal worth up to £400,000.

EE and Virgin Media slapped with £13.3m fine

These fines send a clear message to all phone and broadband firms that they must play by the rules, in the interests of their customers.”

UBS whistleblower awarded token damages by Paris court

UBS is facing a tax fraud trial in France that could see the bank fined up to €3.7 billion if found guilty of helping French citizens dodge their tax obligations.

UK leverage ratio

This includes Basel III and the European Capital Requirement Regulation (known as CRR2) currently under negotiation.

Adoboli Deported to Ghana

Adoboli had been arrested on Monday in Glasgow and sent to a detention center in London pending extradition.

Denmark to consider curbs on convicted investors after tax fraud

As inquiries into so-called dividend stripping gather pace around Europe, Danish authorities have already subpoenaed more than 420 companies and people they suspect of involvement, freezing hundreds of millions of euros of assets around the globe.

FCA to change way it calculates fees

The CP applies to all FCA fee-payers and SFGB levy-payers

Islands respond to Brexit developments

In addition, Jersey’s Minister for External Relations has welcomed the UK Prime Minister’s statement on the Withdrawal Agreement.

CivilisedBank Ready To Reapply For Banking License

As part of its plan, the company has resubmitted its banking license to regulators, according to CEO Mark Stephens.

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