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

Deutsche Bank Sued in U.S. by Jewish Trust Over $3 Billion

All proceedings initiated against Deutsche Bank in this matter have been decided in favor of Deutsche Bank.

KWM arises from the ashes in Europe

All seven of the partners who will head up KWM Global’s London office have been retained from the now defunct legacy SJ Berwin business.

The FCA's asset management market study: investment consultants and competition

The Financial Conduct Authority has set out its concerns about the way in which investment consultants operate and their impact on competition as part of the interim findings from its market study of asset management.

Bucharest Court rejects merger of Patria Bank, Carpatica Commercial Bank

The merger process of the two banks received the approval of the National Bank of Romania (BNR) already on 29 November 2016.

Brussels races to amend rules that hurt pensions industry

EU derivatives regulations scheduled for 2018 set to strain occupational schemes

MannBenham Advocates have been voted Law Firm of the Year

Citywealth International Financial Centre Awards were established to highlight the excellence of the advisers and managers in the private wealth sector

Wealth Manager Sanctioned For Breaking SIPP Promise

The FCA says the advice firm failed to declare all the transfer to SIPPs and recommended five other customers to transfer to two other AIPP providers in the same period.

HSBC voluntarily agrees to provide approximately £4m redress for historical debt collection practices

As it did not reflect the actual and necessary costs of collecting the debt.

EBA/ESMA report on the interaction of CRR with EMIR

The report calls for the requirements for credit, market, and counterparty credit risk in the CRR to be clarified.

UK and Hong Kong regulators enter into co-operation agreement to foster collaboration and promote innovation

This is the fifth such co-operation agreement that the FCA has entered into (with previous agreements being concluded with regulators in Australia, China, Singapore and South Korea) and the first such co-operation agreement that the HKMA has entered into,

Tax reporting under CRS to commence in 2017

One of the complexities that CRS throws up is where Cayman fund managers have a broad mix of non-US taxable investors that need to be identified and reported

Cyprus Market Abuse Law - PDMRs and closed periods

In turn the issuer must promptly make the information public and no later than three business days after the transaction.

FCA takes first criminal action against an individual acting as unlicensed consumer credit lender

The first time that the FCA has taken criminal action in a case related to its consumer credit powers.

Deutsche Bank Agrees to Pay $7.2 Billion for Misleading Investors in its Sale of Residential Mortgage-Backed Securities

Deutsche Bank’s Conduct Contributed to the 2008 Financial Crisis

RBC acquitted in Bahamian tax fraud case

The prosecuting judge filed a notice of appeal.

Eastern European criminals exploit Scottish ‘tax haven’

The number of limited partnerships established in Scotland, where they benefit from greater secrecy and incur fewer tax liabilities than in the rest of Britain, has grown rapidly.

Russia cbank puts Rosneft's bank in charge of Orthodox lender

The central bank is now in the midst of cleaning up Russia's banking system.

Slovenia and US confirm recognition of pension insurance

The agreement will make it easier for many highly skilled Slovenians to return after a period of work in the US

Devoise Advises Rolls-Royce in Coordinated Resolutions with UK, U.S. and Brazil Investigating Authorities

Debevoise was engaged by Rolls-Royce in early 2012 to assist with certain enquiries from the SFO and to lead the subsequent internal investigations.

BRIEF-Thaihot Group's unit to invest in CITIC Capital London Mayfair Property Fund

Says unit signs agreements to invest for property project in London

Legal, Regulation & Compliance