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

Dutch activists sue ING: "Climate crisis banker" funds firms "that endanger our future"

ING reported in 2022 that it is responsible for the emissions of more than 61 million metric tons of greenhouse gases.

How EU’s latest AML laws impact HNWIs and property ownership

Renowned for their substantial wealth, these individuals now find themselves under intensified scrutiny.

FCA manager loses legal battle to work from home

Elizabeth Wilson, a £140,000-a-year senior manager, loses her appeal to work from home on a full-time basis at a Croydon employment tribunal.

Regulated firms failing to adopt open banking or verify source of funds manually

These concerning figures are from a 2023 SmartSearch survey of 501 compliance decision-makers across regulated firms in accountancy, property, finance and legal services.

Addleshaw Goddard: Financial Services & Banking News

The Government has also published explanatory notes accompanying the Bill.

Chancellor in Davos to champion British excellence in tech

Jeremy Hunt champions British science and tech in first visit to the World Economic Forum’s Annual Meeting in Davos, Switzerland from a UK Chancellor since 2019

BSPS payments hit £73mn as another advice firm defaults

The FSCS has so far paid £73mn in compensation to BSPS clients, against total losses of more than £106mn.

Bank of England may crack down on funded reinsurance

Higher interest rates in Britain have made it cheaper for corporate pension schemes to buy insurance, enabling companies to move pension risk off their balance sheets.

Enforcement Factsheet: A Compilation of Regulatory Actions – 2021/2022

Case studies are also included, providing subject persons with practical examples which should help in their day to day operations in combatting ML/FT.

Banks remain robust but higher interest rates could impact their asset quality, the EBA finds

Banks expect the asset quality to deteriorate as higher interest rates affect borrowers.

FCA to undertake work in the motor finance market

There have been a high number of complaints from customers to motor finance firms claiming compensation for commission arrangements prior to the ban.

ESMA explores risk exposures to real estate in EU securities markets and investment funds

In the study, ESMA provides details of the evolution of this sector over the past five years.

Six arrested over planned London Stock Exchange disruption

Six pro-Palestinian activists were arrested on Sunday

UK Treasury plans reforms to manage small bank failures after SVB collapse

Enhancements to resolution regime

CISI approves GSB Capital Limited as first ever international firm to achieve CISI Chartered FirmTM status

Achieving CISI Chartered FirmTM allows consumers to identify these firms as adhering to the highest standards of professionalism, thus enhancing trust and confidence.

Spanish watchdog investigates Deutsche Bank over client advice

Spain's CNMV market supervisor said its move was based on facts that had also been determined by internal investigations carried out by Deutsche Bank.

Hartley Pensions will run out of money by end of month

The administrators have also obtained an offer of funding for £2mn from a third party and a contract has been agreed but not yet signed.

FSCS declares County Durham-based British Steel firm in default

D&G Financial Services is no longer trading

UK pension firms issued dispute resolution guidance following Court of Appeal decision

The Court of Appeal’s judgment means that if an overpayment is disputed by the scheme member, the scheme trustee must apply to the county court to enforce a PO determination upholding the repaying of that overpayment.

The Pensions Regulator staff launch fresh round of strike action over pay

Regulator ‘disappointed’ as PCS union members begin fresh strike today

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Legal, Regulation & Compliance