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

Lloyds fined £64m over treatment of hundreds of thousands of customers

Lloyds said that all customers affected had already been contacted and reimbursed.

Germany should make provisions to ensure banks have sufficient capital: OECD

The OECD said on Wednesday that the global economy will suffer the biggest peace-time downturn in a century before it emerges next year from a coronavirus-inflicted recession.

IFA jailed for four years over £300,000 fraud

He stole money from employer and clients to fund gambling addiction

European Commission report on AIFMD Review – NPPRs set to continue for the time being?

The report notes a variety of market views across EU Member States in relation to NPPRs

Cyprus tightens rules for passport-for-cash scheme

The new rules will come into force after parliamentary approval.

Denmark Toughens Demands for Banks’ Anti-Money Laundering Teams

The FSA has warned that as large institutions beef up their defenses, smaller banks are now particularly at risk.

Goldman Sachs sees $1,800 gold prices with potential for $2,000

The metal eventually turned sideways when so-called risk assets bounced, but with gold holding up due to U.S. dollar weakness and low long-term real interest rates, Goldman said in a report Tuesday.

Generali May Part With Swiss Arm

Several rival insurers would likely be interested in either a swap or sale, including Swiss firms.

Goldman Sachs reopens London HQ for staff on 15 June in major marker for City's return to new normal post covid

"Everyone is encouraged to adopt an approach that works for them and their own personal circumstances which might make a return to office challenging at this time," he said.

Lloyds Bank fined $81 million for overcharging mortgage customers

The hefty penalty comes at a sensitive time for Lloyds, which along with rival banks has millions of customers struggling to make ends meet in the coronavirus pandemic

Calls for adviser protection as financials probed

Mr Bradley’s warning came as the regulator is to probe the impact of the coronavirus crisis on advice companies’ finances.

Covid-19: FCA podcast on emergency regulation and future planning

Mr Woolard also discusses plans for the transformation of the FCA

‘Significant shortfalls’ for investors of failed mini-bond firm

Company only had £906 in its bank account when it entered administration

FCA fines Lloyds Bank, Bank of Scotland and The Mortgage Business £64,046,800 for failures in mortgage arrears handling

The banks did not dispute the FCA’s findings and exercised their right, under the FCA’s partly contested case process, to ask the FCA’s Regulatory Decisions Committee to assess the appropriate level of sanction.

Ireland Update: Maintaining Standards - How to Fairly Dismiss an Employee in a Controlled Function

The AO’s decision was overturned on appeal to the Labour Court

Changes to Guernsey's beneficial ownership regime

The States of Guernsey has approved proposals to amend the legal framework relating to beneficial ownership. These amendments provide much needed clarity in certain areas, and 'plug' any gaps, which have been identified in the current beneficial

COVID-19: HM Treasury ~£38 million support package for debt advice providers

The FCA, as collection agent for levies that fund MaPS and other devolved authorities

Capita Consulting partners with Finantix

The innovative and award winning Finantix Product Suite is a modular, API-driven suite of products that can be integrated with existing IT systems and deliver maximum flexibility, efficiency and scalability.

Decline in funds business to be short-lived: Guernsey Funds Forum

Deals that will happen definitely will decline.

More gloom for savers as Goldman Sachs closes Marcus account to new customers as £4bn influx since April threatens to breach banking rules

Marcus said it had over 500,000 customers who had deposited £21bn

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