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

Russia central bank withdraws licences from four banks

The four were Moscow-based Baltica Bank, Svyaznoy Bank and Nota-Bank, and Samara-based Ipozembank.

HMRC to launch consultation on extending PSC register

Update - HMRC has announced that it will launch a consultation on extending the PSC register to include information on controlling persons in non-UK companies investing in high value UK property. The level of detail to be held is unclear at present.

LPAs, authorising use of discretionary investment management -Withers

The most significant change to the guidance is the addition (on page 28) of suggested wording for inclusion in a financial LPA where the donor wishes to authorise attorneys to delegate investment management decisions to a discretionary investment manager

LPAs, high net worth individuals by Withers

In the recent case of XZ [2015] EWCOP 35 Senior Judge Lush of the Court of Protection criticised the Public Guardian for refusing to register an LPA for property and financial affairs of an international high net worth individual.

The New 4th AML Directive by Eduard Koster, King & Wood Mallesons

As within other areas of the regulation, the European Union wants to further strengthen the fight against money laundering and terrorist financing (AML/TF), to ensure the soundness, integrity and stability of credit and financial institutions, and to ensu

Brussels defies Germany to unveil plan for bank guarantee fund

Despite the proposed protections, Berlin rejected the plan even before it was announced, telling reporters that the commission’s blueprint would simply redistribute the risk around the eurozone rather than reducing it.

Return Of The Euro? They’re Banking On It

In the latest part of his EU series, JOHN BOYD examines the workings of the European Central Bank — and how joining the euro could be back on the agenda for Britain in spite of the current crisis

A £459 million trading takeover that lit up the City just got killed and shares are crashing

The FCA's issues with the deal, detailed in a letter on Friday, are believed to center around Plus500's regulatory issues earlier this year.

Greece on track to get €2b aid payment from euro area

The meeting reached an agreement in principle on moving forward with releasing funds for bank recapitalisation

European Central Bank governors split over further rate cut

The expected divergence pushed the dollar back up towards a 7-month high against a basket of top currencies in early European trading.

Swiss banks to pay $81 mln, avoid U.S. charges on aiding tax evasion

These banks will collectively pay penalties totaling more than $81 million and continue to cooperate with the department.

Mourant Ozannes advises on real estate portfolio sale

Mourant Ozannes has acted as Jersey legal adviser to the Aerium group in the sale of a significant commercial property portfolio worth £330 million.

Debevoise Advises Russia China Investment Fund in its Investment in TutorGroup

Proceeds from the new investment round are to be used to accelerate TutorGroup’s international expansion, as well as for the continued enhancement of the company’s platform.

Blacklisted HK: The Spanish Case

Friends of Harbour Times would be familiar with the remedy of Hong Kong being named a non-cooperative tax jurisdiction by the European Union earlier this year.

Bermuda Court hands down first decision under statutory Re Hastings-Bass provision

By the enactment of the Trustee Amendment Act 2014, the Bermuda legislature inserted a new section 47A into the Trustee Act 1975.

Offshore trusts with UK beneficiaries will be captured under 4AMLD - Appleby

The arm of the UK Government is likely to extend into offshore trusts where they contain UK tax paying beneficiaries. Whether or not this information will be linked at an EU level remains to be seen

Conyers Announces Developments in London Office

The Firm continues to broaden its focus in the region, which strengthens our global footprint overall.

Global law firm continues to grow in London

He principally focuses on debt restructuring but also covers real estate finance, stressed and distressed real estate resolutions, and more general banking matters.

Winston & Strawn London Adds Three Corporate Lawyers

Winston & Strawn LLP has announced the addition of two partners and one of counsel to the firm’s Corporate & Finance Department in London.

U.K. Regulators May Reopen Investigation Into Former HBOS Executives

The regulator faced criticism after it sanctioned only one former HBOS executive, Peter Cummings.

Legal, Regulation & Compliance