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

FSCS declares firm in default over investment advice

The lifeboat scheme told FT Adviser it has received 50 claims against the firm, with three rejected, 46 in progress and one upheld all relating to investment advice.

Sunak confirms 2p NI cut in Tory manifesto

The manifesto commits to a third 2p reduction as part of a drive to eliminate national insurance altogether.

House prices stabilise as Labour announce "freedom to buy" policy

The modest drop still points a resilient housing market and there are several factors contributing to this.

What makes a Consumer Duty friendly investment solution?

A tick-box approach won’t work for this principles-based regulation. Rather than being ‘just another product on the shelf’, each investment must be a tailored solution that is led by consumer need

Will the US follow Europe’s lead on interest rate cuts?

Even though the decision was expected, European equities fell slightly, government bond prices rose (yields fell), and the euro appreciated right after the announcement.

City row erupts against proxy advisers over executive pay

However, proxy advisers, which recommend how shareholders vote at company meetings, have often been criticised for blocking the hiking of executive pay.

Swiss finmin flags legal risks to winding up global banks

The big banks are heavily invested there.

New Cost Benefit Analysis Panel to be chaired by Dr Felix Martin

The FCA estimates around a third of its CBA will be subject to the Panel’s review.

Morning markets - ECB eyes rate cut as central banks signal shift amidst inflation dynamics

This reflects an acceleration in new orders, in sharp contrast to the apparent weakness reflected in the Manufacturing survey

PS10/24 – Review of Solvency II: Reform of the Matching Adjustment

Policy statement 10/24

What lenders need to know about financing Irish regulated funds

In fund finance transactions involving Irish funds, it is important to consider aspects such as segregated liability and the role of the depositary.

The EBA and ESMA invite comments on the review of the investment firms prudential framework

To assess the impact of the possible changes discussed in the paper, the EBA also launched a data collection exercise on a voluntary basis.

Final MiCA rules on conflict of interest of crypto assets providers published

In the report ESMA sets out draft Regulatory Technical Standards on certain requirements in relation to conflicts of interest for crypto-asset service providers (CASPs) under MiCA

EU may help banks more with loan losses due to pandemic

Regulators in the EU have offered flexibility on how a loan loss accounting rule known as IFRS 9 is applied but the United States has gone further and offered banks a two-year holiday from its equivalent rule.

CMA launches probe into Nationwide-Virgin Money deal

The CMA said it is investigating whether the deal could result in a “substantial lessening of competition” in the UK.

Flagstone gets status change approval from JFSC

The approval from the JFSC recognises Flagstone International as an independent trust company able to provide services under Jersey’s regulatory framework.

Report reveals how asset managers can implement SDR

The report also urges firms to step up engagement with distributors at the earliest opportunity to ensure they are comfortable with the core sustainability features of each product.

White & Case advises EIF on synthetic securitisation of Deutsche Bank-originated German consumer loan portfolio

The EIF guarantee on the €150 million mezzanine tranche covers a large reference portfolio of consumer loans.

FCA 'working to modernise' regulation for asset managers

Alder said responses to the regulator's consultation on replacing asset management regulation, currently contained in retained EU law, indicated a desire to remain broadly aligned with EU rules.

Woodford should forfeit his CBE, says TTF

They said the Woodford scandal has caused terrible harm to its victims.

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