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

FCA writes to 152 firms over high-risk investments

FCA will continue to monitor the issue, but stopped short of suggesting the regulator will intervene to solve the problem

HM Treasury: Proposed division of responsibilities for EU financial services

At Tresury oral question this week...

Star traders get jail term over Euribor rigging

The conviction follows a guilty plea by Christian Bittar, former Principal Trader at Deutsche Bank, before the start of the trial in March 2018.

ESMA Clarifies Endorsement Regime for Non-EU Credit Ratings

The new section aims to assist EU CRAs in assessing whether a third-country CRA’s internal requirements meet the as stringent as test.

Keeping it real: The EU Council’s substance requirements by Ashley Fife, Appleby

Numerous other “offshore financial centres” face an end-of-year deadline to avoid being placed on the European Union Council list of non-cooperative jurisdictions for tax purposes.

Innovative law firm opens up South African UCITS market with novel fund registration

This has meant most UCITS are, as they stand, unsuitable for registration in South Africa.

The Compliance Complexity Index 2018 - TMF

At the same time, legal and tax teams need to know what jurisdictions are complex for handling compliance issues.

Jersey likes EU sanctions too: a brief look at the implementation of EU sanctions in Jersey

The General Provisions Order also sets out provisions regarding sanctions offences committed by a limited liability partnership, a separate limited partnership, an incorporated limited partnership or another body corporate.

Liontrust to consolidate outsourced fund services to BNY Mellon

The UK asset manager will consolidate its asset servicing relationships for its UK and Ireland fund ranges and use BNY Mellon as its sole outsourcing provider.

Banks sued by 15 major councils in controversial loans fraud court battle

The high-profile loans allow private banks to propose or impose a new fixed rate on a pre-determined future start date.

FCA to shake up rules for advisers caring for clients

The FCA said it could introduce a duty of care by extending the client's best interests rule, which currently only covers non-regulated activity, to cover all regulated activities.

Deloitte resigns from Linklaters audit

PwC will take the Linklaters audit role

CMA proposes major overhaul of £1.6trn investment consultancy sector

The investment consultancy market is dominated by three players, Aon Hewitt, Mercer and Willis Towers Watson.

The Litigator’s Toolbox – Without Prejudice by Higgs & Johnson

The influence of public policy on encouraging persons to settle their disputes without resorting to litigation, is an important factor in the without prejudice rule as is the contractual element of the Rule.

French central bank investigates UK fintech Brexit contigency plans

Many fintechs have already taken steps to achieve European authorisation, including star banking challenger Revolut which chose to apply for a licence in Lithuania before attempting an application in the UK.

Pioneering listed law firm continues strong revenue and profit growth

Ward said the firm performed well across the board during the year

First Abu Dhabi Bank sells Jordan business to Société Générale

All clients, employees and branches of NBAD Jordan will be transferred to the French lender over the coming months

Barclays sued in £8bn 'lose-lose' loans storm by 14 councils including Manchester, Bristol and Leeds

Local authorities accusing the bank of fraud over loans to councils

Sharp rise in number of super-rich prepared to invest £2m for UK visa

Applications for ‘golden visa’ increase by 46% in year despite government crackdown

FCA tells platforms to keep tabs on advisers

Final rules for what will be required of platforms and advisers who use fund supermarkets will be produced at the start of next year but to improve outcomes for orphan clients

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