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

Scots court issues ‘timely reminder’ on interpretation of terms in contracts

McLure remains a 40% shareholder in the company, which provides support services to the oil and gas industry.

Insurance woman wins discrimination lawsuit against Swiss Re

Sommer says she was passed over for two managerial positions while she was on maternity leave, despite having more experience than those hired later.

UK Online Safety Bill updated to require content to be assessed in context

In a separate factsheet, the government highlighted other new clauses it has added to the Bill, which are designed to enhance protections for journalism.

Addleshaw Goddard: Financial Services & Banking News

The FCA are now seeking expressions of interest from external experts to join the Committee

Germany plans new financial crime authority in bid to tackle money laundering

With the new authority, the finance ministry hopes to make it easier to tackle complex international money laundering cases, which have long been a weak spot for the country.

FCA board approves final appointed rep rules

The final minor changes include reducing the pre-notification period from 60 to 30 days.

FCA plans to broaden retail access to LTAFs ‘may not go far enough’

LTAFs are intended to help better manage the liquidity risk of long-term illiquid assets

Dutch doing a better job fighting money laundering, international monitor says

FATF also praised the cooperation between various Netherlands agencies in detecting and fighting money laundering.

ECB confirms sanctions on Crédit Agricole for classifying shares as CET1 capital without prior approval

The subsidiaries CACIB and CACF took a similar approach for three consecutive quarters.

European Investment Bank’s €150 Million Retrocession and Undertaking Agreement With UniCredit Bank

The EGF is designed to support companies that are considered to have economic viability and would be able to meet the requirements of a lender or other financial intermediary for commercial financing.

Bank of England may be forced to raise interest rates to 4% in 2023

City traders bet central bank will more than double cost of borrowing to combat soaring inflation

UK FCA issues clarification on IFPR and SM&CR

This was to retain the definition in the FCA’s rules following deletion of the IFPRU sourcebook.

Industry veteran Moret calls for rewrite of Sipp regulation

He explained the implications for providers of all types of Sipp, particularly those operating on an execution-only basis, are significant.

Sky-high inflation risks British Steel victims being short changed

‘Based on the current methodology, the higher the rate of gilt yields then the lower the redress will be’

Is bank capital the next flashpoint over City regulation?

Topic has potential to cause schism between Westminster and Threadneedle Street

14,000 online whistleblowers prompt HMRC crack down on furlough fraud

Significant numbers of employees who found themselves unwittingly playing a part in a breach of the rules or even fraud will have reported them in response.

Addleshaw Goddard: Financial Services & Banking News

The purpose of this letter is to remind lenders and merchants who offer BNPL agreements that they must meet regulatory obligations when promoting those agreements, or risk committing a criminal offence.

101 firms in scope of new emergency asset retention rules for British Steel Pension Scheme transfer advice

These emergency rules increase the likelihood that former BSPS members will get compensation directly from firms for any losses they suffered from being given unsuitable pension transfer advice.

Police Scotland data ruling a ‘helpful reminder’ of erasure rights

Two months later, Bartosik submitted a complaint to Police Scotland, claiming that officers had failed to record and investigate the allegations and had not responded to his report.

Large UK firms suspected of underpaying £1.4bn in employment taxes

These so-called ‘hidden employees’ include workers who are paid by businesses on a self-employed basis, as well as those who are paid through a personal service company and fall within the tax rules for off-payroll workers – known

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