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

Insurers paid out record £7.34bn in claims last year

Individual policies paid out more than 275,000 life insurance, income protection and critical illness claims, totalling £4.85bn.

BareRock introduces policy to help advisers comply with FCA’s three-day rule

The new solution aims to help advice firms avoid triggering lengthy complaint-handling procedures that are damaging reputations and firm-client relationships.

Aligning SFDR and SDR to combat greenwashing

For those asset managers that are in scope now, they’ll already be assessing their options to label in scope products and services

ECB now presses, “All the conditions are in place for the deposit guarantee scheme”

75% of top UK law firms promote their use of AI to clients

79% of UK lawyers said that they expect that AI will have a transformative effect on the legal profession

Markets increasingly sensitive after strong performance in early 2024

There remains a high risk of corrections in a context of fragile market liquidity, in equity and in other markets.

Application date approaching for ESMA's guidelines on funds' names

ESMA, the EU’s financial markets regulator and supervisor, has published the translations [1] of the Guidelines in all official EU languages.

The new UK Listing Rules: what does this mean for Jersey companies?

The new listing rules which impact listings on the Main Market (as opposed to AIM) provide a simplified regime, which, coupled with the flexibility of Jersey companies, could make an attractive combination.

EBA issues Opinion on a measure to address macroprudential risk following a notification by the De Nederlandsche Bank

Based on the information provided by the DNB, the EBA does not object to the extension of the measure.

FCA announces work into pure protection market

The FCA has concerns that the design of commission arrangements may not allow firms to deliver good outcomes to policyholders.

NY regulator fines Nordea $35M over AML failures

The fine will have “no material impact” on Nordea’s financial position, the bank said.

Former Barclays banker banned from top City job: Thomas Kalaris labelled 'dishonest' as he loses appeal

Saranac appealed, with a hearing held in July and yesterday the Upper Tribunal in London upheld the regulator’s decision to ban Kalaris.

FCA to launch selling probe into commission practices on protection products

The FCA will focus primarily on the sale of four specific types of products

European Banks’ CRE Valuations Likely to be Revised Down After ECB Findings

Some banks also used multiple valuations methods and averaged the results, without challenging the suitability of the methods for specific properties.

FINMA recognises minimum standards for the training and further education of insurance intermediaries

FINMA will monitor the application of the new self-regulation

Slimline Bank of England boss Bailey gets in shape after battle with the pounds

Bailey responded to a question about his new slimline appearance by admitting that his efforts to get his weight down have been yielding results.

The Transition Period for ESMA’s Guidelines on Funds’ Names Has Commenced

Any new funds created on or after the Application Date are expected to apply these Guidelines from launch.

Dentons advises lenders on financing for KKCG following its acquisition of Avenga

The financing will be used by KKCG’s Technology pillar to refinance existing loans used for the recent acquisition of Avenga

Deutsche Bank reaches settlements with a large share of the plaintiffs in Postbank takeover litigation matter

Among the plaintiffs who agreed to a settlement is also the largest individual plaintiff in these proceedings, representing about one third of all claims.

Sharp slowdown in wage growth boosts ECB rate cut hopes

Olympic boost can’t cover up the ongoing crisis in eurozone manufacturing.

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