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

FSA confirms plans to ban promotion of traded life settlements

The regulator has published its final guidance on traded life policy investments this morning, following an earlier guidance consultation in November.

EU regulators urge caution on fast trading curbs

The European Parliament and the bloc's member states are approving a reform of securities trading rules known as MiFID, with specific elements curbing high-frequency trading (HFT).

Finance Watch publishes position paper on MiFID 2

It also calls for the EU to drop the proposed “OTF” trading venue category, which risks opening the door to regulatory arbitrage.

Parliament urged to force companies into tax admissions

Senior executives from commodity trading group Glencore and brewer SAB Miller appeared to resist calls by campaign groups and development agencies for more transparency.

FSA says 76,700 names are on scammers' suckers list

The majority of those named will be informed via postal mail, although the 19,101 where only an email address is given can expect a heads-up from the FSA to drop into their email in-box in the next few weeks.

Linklaters adds 23 to partnership ranks including six in London

This year's promotions round marks an increase on 2011-12, when 18 lawyers were made up. Last year six were also promoted in London.

MPs to investigage rate swap mis-selling claims

Firms lost hundreds of thousands and even millions of pounds in costs they claim they were never warned about.

Offshore share sharks who duped British investors jailed

Two men and a woman have been jailed for a fraud where more than £4 million was taken from private investors through share-pushing operations based in Spain and Ireland. Another man will be sentenced at a later date.

Lawrence Graham promotes four lawyers to partnership

International business law firm Lawrence Graham will promote four London-based lawyers to its partnership on 1 May 2012.

Firms confirm new compliance roles as regulatory deadline looms

Linklaters and Bird & Bird are among the first major firms to nominate new compliance officers, as the Solicitors Regulation Authority (SRA) has given UK law firms until 31 July to appoint someone to take responsibility for the firm's legal pract

Scottish private client firm launches Glasgow base

The private client specialist, which already has offices in Edinburgh, London, Guernsey and Geneva, has revealed that it is in advanced negotiations to sign a lease on a site close to George Square.

FSA cancels Kent-based IFA over RMAR non-submission

Move follows the cancellation of permissions of a number of advisers over failure to pay regulatory fees.

British win more favourable tax deal terms

Switzerland has decided to give in to demands by Britain to modify a planned bilateral tax treaty, after continued opposition to the accord.

Rogue trader Kerviel accuses SocGen of deceit

"We filed a complaint against Societe Generale today for obtaining a verdict under false pretences," David Koubbi, Kerviel's lawyer, told Europe 1 radio on Friday.

SEC Charges British Twin Brothers Touting "Stock Picking Robot" in Internet Pump-and-Dump Scheme

The Securities and Exchange Commission today charged twin brothers from the U.K. with defrauding approximately 75,000 investors through an Internet-based pump-and-dump scheme in which they touted a fake “stock picking robot” that purportedly i

UK regulator loses UBS supervision test case ‎

The Financial Services Authority (FSA) has lost a test case involving UBS in which it tried for the first time to punish a senior manager for inadequate supervision rather than for errors he personally committed.

Leading Irish law firm opens in the Cayman Islands

An Irish law firm has opened an office in the Cayman Islands.

Italy rules out wealth tax, other new taxes

The government "does not have plans" for a wealth tax or other fiscal measures, Grilli said during testimony before the Chamber of Deputies parliamentary budget committee.

City regulator fines former BoS banker

Peter Cummings, the man behind Bank of Scotland’s failed corporate bank, has been handed a “warning notice” and punitive fine by the Financial Services Authority.

Income tax cap – update and frequently asked questions by Withers Worldwide

Those following the state of UK giving could be forgiven for having allowed themselves to feel cautiously optimistic during the past two years.

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