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

BSPS payments hit £73mn as another advice firm defaults

The FSCS has so far paid £73mn in compensation to BSPS clients, against total losses of more than £106mn.

Bank of England may crack down on funded reinsurance

Higher interest rates in Britain have made it cheaper for corporate pension schemes to buy insurance, enabling companies to move pension risk off their balance sheets.

Enforcement Factsheet: A Compilation of Regulatory Actions – 2021/2022

Case studies are also included, providing subject persons with practical examples which should help in their day to day operations in combatting ML/FT.

Banks remain robust but higher interest rates could impact their asset quality, the EBA finds

Banks expect the asset quality to deteriorate as higher interest rates affect borrowers.

FCA to undertake work in the motor finance market

There have been a high number of complaints from customers to motor finance firms claiming compensation for commission arrangements prior to the ban.

ESMA explores risk exposures to real estate in EU securities markets and investment funds

In the study, ESMA provides details of the evolution of this sector over the past five years.

Six arrested over planned London Stock Exchange disruption

Six pro-Palestinian activists were arrested on Sunday

UK Treasury plans reforms to manage small bank failures after SVB collapse

Enhancements to resolution regime

CISI approves GSB Capital Limited as first ever international firm to achieve CISI Chartered FirmTM status

Achieving CISI Chartered FirmTM allows consumers to identify these firms as adhering to the highest standards of professionalism, thus enhancing trust and confidence.

Spanish watchdog investigates Deutsche Bank over client advice

Spain's CNMV market supervisor said its move was based on facts that had also been determined by internal investigations carried out by Deutsche Bank.

Hartley Pensions will run out of money by end of month

The administrators have also obtained an offer of funding for £2mn from a third party and a contract has been agreed but not yet signed.

FSCS declares County Durham-based British Steel firm in default

D&G Financial Services is no longer trading

UK pension firms issued dispute resolution guidance following Court of Appeal decision

The Court of Appeal’s judgment means that if an overpayment is disputed by the scheme member, the scheme trustee must apply to the county court to enforce a PO determination upholding the repaying of that overpayment.

The Pensions Regulator staff launch fresh round of strike action over pay

Regulator ‘disappointed’ as PCS union members begin fresh strike today

ESAs consult on draft implementing technical standards specifying certain tasks

These ITSs and the requirements they set out are designed to enable future users to be able to effectively harness the comprehensive financial and sustainability information centralised on the ESAP.

FCA hands adviser warning notice over DB pension transfer advice

“This was despite knowing that each of these steps was a necessary prerequisite to providing a personal recommendation,” the FCA said.

Meta appoints Dentons to new EMEA Panel

The firm's global relationship with Meta has developed through years of collaboration.

Money market report for the week ended January 5, 2024

Information on ECB monetary operations and the domestic Treasury bill market

Former MPC member claims BoE will not be able to cut interest rates in 2024 - reports

DeAnne Julius

Triple lock 'the elephant in the room' impacting saver sentiment

Follows the chancellor’s 2p cut to NI which took effect on Saturday

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