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

FCA gives update on banks’ overdraft pricing decisions and plans to support consumers

The new overdraft rates came into force between November 2019 and April 2020, following the rules we published in June 2019.

Jersey Private Funds

The JFSC had previously applied a similar proportionate and light-touch approach to very private structures

European Parliament adopts the Taxonomy Regulation

The classification will be further developed through technical screening criteria, which will be laid down by the Commission in the related delegated acts.

LIBOR - When the going gets tough, the tough legacy contracts get going

These considerations provide useful guidance to market participants in assessing the nature of their exposure to tough legacy contracts

What the 'no-fault' divorce bill entails

The Divorce, Dissolution and Separation Bill (commonly referred as the no-fault divorce bill) has passed its third reading in the House of Commons and will next be considered by the House of Lords.

How coronavirus is changing data protection for firms

Some are still catching up with the general requirements of the new framework of law

Ex-Kazakh president's grandson, others seek 1.5 million pound costs after UK wealth order failure

But the High Court in April ruled in favour of Aliyev over the house connected to him and discharged the orders against the companies which owned the other properties.

Financial relief for struggling businesses: new UK insolvency legislation now in force

The new legislation includes a raft of temporary measures aimed at bringing relief to businesses struggling through.

As UK dividends collapse, where can investors still turn for income?

The distribution per share that the product declared in June fell by 60%1 compared to the same payment made last year and reflects dividend news from March, April and May.

The post-Brexit regulatory landscape – divergence and competition without dilution?

This clearly rules out a “cut and paste” approach to adopting any EU legislation that goes live after the transition period.

Covid-19: FCA updates submission deadlines for regulatory returns

Given the impact of coronavirus (Covid-19), we have introduced some temporary measures for firms submitting regulatory returns.

FCA censures AIM firm for market abuse

As a result, investors were misled and paid more when purchasing shares than they would have done had they known the true position.

FCA updates TR registration arrangements webpage

Any TR wishing to offer its services relating to onshored EMIR (UK EMIR) or onshored Securities Financing Transactions Regulation (UK SFTR) in the UK after this date will need to be registered with, or recognised by the FCA.

Covid-19: PRA statement on regulatory reporting and disclosure amendments

This statement outlines the PRA’s revised approach to regulatory reporting and Pillar 3 disclosure for PRA-regulated banks in response to the Covid-19 outbreak.

ICO outlines six data protection steps which organisations should take on the road to coronavirus recovery

These include identifying a lawful basis for collecting and using the information collected and, if they are processing health data on a large scale, conducting a data protection impact assessment.

CPMI-IOSCO publish a report on CCP auctions

The report builds on a discussion paper on CCP default management auctions published in June 2019, after CPMI and IOSCO agreed in 2017

FCA statement on EBA ICT and security risk management guidelines

Firms are encouraged to focus on the provisions within the Guidelines relating to information security, ICT operations and business continuity to maximise their ability to provide services on an ongoing basis and to limit losses in the event of severe bus

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