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

FSA wants bonuses to reflect PPI losses

The Financial Services Authority (FSA), the industry regulator, holds that institutions must bear in mind the costs of the compensation as bonus season begins in the City.

FSA pressures banks to hand over MF Global UK client money

The Financial Services Authority has been involved in the discussions without taking formal action against any of the banks, according to two people with knowledge of the situation who declined to identified because the negotiations are confidential.

FSA charges two firms for failure to conduct their businesses with due skill, care and diligence

While the fine relates specifically to failings by Direct Line and Churchill (together, the Firms), since the breach occurred the relevant business and liabilities of the Firms have been transferred to UK Insurance Limited (UKI). UKI, which is owned by th

'New centrality' for central bankers

The resignation of Phillip Hildebrand from the Swiss National Bank highlights the 'new centrality' of central bankers as well as their need to espouse a rigorous code of conduct, according to OMFIF Co-chairman David Marsh in the January 2012 Bul

Exposed: Taxman's 'illegal' war against Britain's small businesses

If upheld on appeal, the judgment could result in between 50,000 and 100,000 firms being able to claim refunds on tens of millions paid in fines.

Ten firms win spots on BNP Paribas's revamped global panel

BNP Paribas carries out reviews on a rolling basis. This is the first review that has taken place since Georges Dirani, former head of Herbert Smith’s Paris banking practice, took over as general counsel of the bank in 2010 (26 April 2010).

Linklaters extends restructuring with up to 70 partners facing the axe

The Lawyer has learnt further names of several partners who have been requested to exit the firm, mostly covering banking and finance.

Aifa urges advisers to lobby FSA over trail commission

The call comes just days before the deadline to respond to the Financial Services Authority’s (FSA) consultation published in November of last year.

Businessman jailed over £18m fraud

The pair’s sentencing was delayed after the court was told Steele had a heart condition and a pre-sentencing report had not been compiled.

Osborne says banks unlikely to quit City

Appearing in front of the Treasury Select Committee to discuss the Vickers banking reforms, George Osborne questioned where banks would go given the increasing level of regulation around the world.

German banking groups say they oppose Financial-transaction tax

Such a levy would mostly hurt private individuals as they couldn’t move to more favorable countries as easily as institutional investors, Andreas Schmitz, president of the BdB Association of German Banks, said at an event in Berlin today.

Linklaters prepares to hand Davies second term at the helm

Linklaters managing partner Simon Davies is set to stand uncontested for re-election after the deadline for challengers’ nominations passed.

BLP continues to build banking with hire from Clifford Chance

He advises banks, funds, corporates and other market participants on securitisations and asset-backed finance structures across numerous sectors.

Five arrested over Rowan Dartington fraud allegations

Five men have been arrested on suspicion of fraudulent transactions from accounts held at Bristol-based stockbroker Rowan Dartington

FSA presses charges over insider dealing

Insider dealing is a criminal offence that is punishable by a fine or up to seven years imprisonment.

Austrian Chancellor Stands Firm On Wealth Tax

The Chancellor also stressed the importance of introducing a financial transactions tax, championed by France and Germany.

UK watchdog cancels registration of payments firm

According to a final notice published on the FSA’s website, the failure to notify it of a change in address hindered the body from properly regulating Mr Ali’s business and thereby protect consumers.

Herbert Smith and Dutton advise as watchdog hands PwC record fine

The sanction - the highest fine ever against a UK accountancy firm - was issued this week by an independent tribunal that adjudicates AADB investigations.

Should the 50p tax rate be abolished?

David Cameron has announced that the government is committed to abolishing the 50p tax rate.

French banks threaten exile if Tobin tax imposed

French banks may be forced to move a large part of their operations abroad if France went ahead unilaterally with a proposed "Tobin" tax on financial transactions, the French Bank Federation said.

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