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

European Accessibility Act: what you need to know

Member States were required to implement the directive into national law by 28 June 2022

ESAs Publish a Guide On DORA Oversight Activities

This guide provides high-level explanations to external stakeholders regarding the CTPP Oversight framework.

Authorities Arrested 14 Hackers in Connection With large-scale tax fraud operation

Thirteen individuals, aged between 23 and 53, were apprehended in the Romanian counties of Ilfov, Giurgiu, and Calarasi by the Economic Crimes Investigation Directorate.

FCA and PRA cut senior manager regime red tape to help boost growth

In the first phase of reforms to the SM&CR, the FCA and PRA are proposing to streamline the regime to make it more effective and efficient and to drive growth in financial services.

PensionBee calls for legally mandated 10-day pension switch guarantee

This comes as Pension switching has been labelled the second most difficult life admin task after moving house.

EU doing more than UK to help Briton detained in Dubai, says family

Bloc passes resolution calling for release of Ryan Cornelius, who was convicted of bank fraud

Andrew Bailey cautions banks against issuing their own stablecoins

Stablecoins are proposed to have the characteristics of money.

Nikko AM Group successfully completes management company transfer to Apex Group

Nikko AM Group offers active investment management across Equity, Fixed Income, and Multi-Asset strategies

FCA closes 1,600 websites as it fights financial crime

This has helped the regulator in its work to block fraud at source.

FCA to modernise rules to unlock investment

The reform will build on 10 initiatives the FCA has already delivered since January to support growth, with around 50 to be completed by the end of the year.

Deutsche Börse to return banking licences in regulatory shake-up

Germany’s biggest exchange operator pushes for more efficiency

Climate change is growing concern for UK economy, warns BoE

She gave the example of UK food prices being affected by extreme weather events as one area of price stability that is being impacted.

Prudential Regulation Authority announces review of the Loan to Income (LTI) flow limit rule and offers interim modification by consent

Following the FPC’s recommendation, the PRA is reviewing the loan-to-income ratio requirements and is offering a modification by consent to disapply the relevant part of the PRA Rulebook while the review is ongoing.

Mansion House speech could see chancellor outline series of reforms to pensions, ISAs and financial services industry

The address is expected to outline the next phase of the government’s Pensions Review, focusing on the adequacy of retirement savings across state, workplace, and personal provisions.

BoE governor opposes pension investment mandate in blow to government plans

While the Government has described the power as a “backstop” it hopes not to use, the clause is seen as a means of putting pressure on schemes to follow voluntary investment targets.

FCA fines Monzo £21m for failings in financial crime controls

In particular, Monzo failed to design, implement and maintain adequate customer onboarding, customer risk assessment and transaction monitoring systems to mitigate the risk of financial crime.

The EBA launches consultation on its draft Guidelines on third-party risk management with regard to non-ICT related services

The draft Guidelines provide specific criteria for the application of the proportionality principle.

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