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

FCA: We’ll inspect private asset processes this year

The regulator tells investment companies that it will visit fund managers this year to probe their valuation practices for private equities and unquoted assets.

Bank of England holds rates and stands firm on data dependent approach

Eight of the Bank’s nine policymakers voted to hold, while one voted for a cut, suggesting the tide could soon begin to turn.

Waspi women owed billions in compensation by DWP, ombudsman claims

The PHSO published stage one of its investigation in July 2021 and observed failings in the way DWP communicated changes to women’s SPA.

Linklaters advises Morgan Stanley Infrastructure Partners on the equity injection and debt extension of Tele Columbus AG

The Company is one of the leading operators of fibre networks in Germany.

Carey Olsen named Offshore Law Firm of the Year at the WealthBriefing European Awards

Carey Olsen has been named Offshore Law Firm of the Year at the twelfth annual WealthBriefing European Awards 2024.

Financial Services & Banking News

ECON also announced the adoption of its draft report on the proposed Regulation making amendments to the Regulation on key information documents

FCA publishes proposed guidance on new anti-greenwashing rule

The guidance acts as an aid to the implementation of the current anti-greenwashing rule, and provides four key principles that any sustainability claim must consider.

Financial Services & Banking News

The ECB, the EBA and EIOPA have established the framework, referred to as the DPM Alliance, to collaborate on the upgrading and maintenance of the DPM standard.

The impact of the new EU mass actions directive across Europe

The growth of mass actions presents increased challenges and risks for businesses, particularly those which provide services or goods to consumers.

FINMA annual media conference: For a stable financial sector

FINMA made a decisive contribution to stabilizing the financial markets in March 2023, when Credit Suisse was threatened with imminent insolvency.

FCA’s warnings on poor financial crime controls

The firms we assess are informed of our findings and supervisory action is taken with those firms based on those findings”.

FCA asks Financial Advisers to review their processes in retirement income support

Some firms had clearly detailed processes, specific training on decumulation and used a range of tools to help illustrate complex information for customers.

ECB and EBA step up efforts to make banking industry data reporting more efficient

The ECB, the EBA, the European Commission and the SRB will all be part of the JBRC

FCA sets out plan for the year ahead

The introduction of the Consumer Duty marked a major shift by setting higher and clearer standards of consumer protection

Convicted money launderer meets confiscation order after imprisonment for failure to pay

This scheme ultimately defrauded consumers of over £4.25 million; on occasions Mr Walker even received monies from investors into his solicitor’s client account.

CS Shareholder Lawsuits: Liechtenstein Law Firm has Surprising Argument

The major bank refutes the lawsuit.

FCA joins other regulators to warn firms on debt collection

This is especially important as many consumers continue to feel the strain from cost of living pressures and risk falling into arrears.

FCA decides on £5.95m fine and industry ban for Nailesh Teraiya in latest cum-ex case

In reality, this was not a repayment of tax as the claim related to shares that did not exist, no dividends had been paid and no tax had been deducted.

Morgan Stanley Wins €1.4 Million French Bonus Spat With Banker Who Quit

The Paris court of appeals ruled against Bernard Mourad, saying the bank’s cash and shares incentive programs “sought to ensure his loyalty in the long term.”

Financial Promotion: U-turn on UK high net worth individual and sophisticated investor exemptions

The changes in the 2024 Order reverse certain amendments made by recent regulations

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