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

PKB Privatbank SA convicted for corporate liability in connection with aggravated money laundering

The same bank official ensured maximum flexibility for the ODEBRECHT client

FOS expects to receive 210,000 complaints in 2024/25

In order to combat the increased workload, the FOS will be recruiting more handlers.

CS downfall: Finma's letter to the court infuriates investors

A letter from the authority has now been leaked to the media.

CBAM boss: The FCA presumes bespoke is costly but it’s not

While some wealth managers choose to focus on their MPS teams, Close Brothers CEO Eddy Reynolds believes bespoke can work for clients and advisers.

SO FX Ltd in creditors’ voluntary liquidation

SO FX Ltd entered into a creditors’ voluntary liquidation on 25 November 2021 and Evelyn Partners was appointed as liquidator.

Linklaters advises the Trustees of the De Beers UK Pension Scheme on an £870mn full buy-in with Pension Insurance Corporation plc

The transaction secures the pensions of 473 deferred members and 1,464 pensioner members of the Scheme, which is sponsored by De Beers UK Limited.

Former asset manager and board member of a Geneva private bank referred to the Federal Criminal Court

The accused is charged with having, between 2009 and 2015, unduly disposed of more than CHF 14 million-worth assets in a bank account in Switzerland entrusted to him by a client.

Ex-Geneva private bank board member charged with money laundering

The accused is also alleged to have unduly disposed of more than CHF 14m of assets without his client’s knowledge.

Amsterdam team advises ABN AMRO Bank N.V.

The acquisition includes Inntel Hotels Rotterdam Center and the adjoining Mainport by Inntel Hotels

Financial Services & Banking News

The European Insurance and Occupational Pensions Authority (EIOPA) has launched an EU-wide stress test for the insurance sector

Norton Rose Fulbright advises UniSuper, Pension Protection Fund and APG on one of Australia’s largest forestry deals

The Norton Rose Fulbright team advised on all aspects of the transaction

Commission rolls out plans for a European degree

A European degree will benefit students by boosting learning mobility and by making graduates more attractive for employers.

ESMA provides market participants with guidance on the clearing obligation for trading with 3rd country Pension Schemes

Additionally, ESMA recommends that NCAs apply their risk-based supervisory powers in their day-to-day enforcement of applicable legislation in this area in a proportionate manner.

Stuart Bayes found guilty of insider dealing 

Mr Bayes was employed as a site manager at UK plastic manufacturer, RPC Group Plc (RPC).

What is so ‘groundbreaking’ about the UK-Switzerland Berne Financial Services Agreement?

Under the principle of deference, UK and Swiss firms will be able to provide specific financial services in the host country

European banks believe EU SEPA instant timelines are unrealistic

Nearly a third aren’t confident of meeting EU deadlines and 77% of banks think the benefits of instant payments outweigh the costs

The third phase of UK Charities Act 2022 reforms

Trusts and unincorporated associations can now amend their governing documents using a new statutory power.

Bank of England, FCA, PRA and PSR conduct 2023 review of Memorandum of Understanding for payment systems in the UK

The MoU continues to set out the high-level framework the Authorities use to cooperate in relation to payment systems in the UK.

The EBA launches call for papers for its 2024 Policy Research Workshop

The workshop aims at bringing together economists and researchers from supervisory authorities and central banks

Technology Working Group publish second fund tokenisation report

The City Minister’s industry group for examining the impact of technology on the UK’s investment management sector publishes its second report.

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