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

Baker & McKenzie doubles down on cost-slashing overseas back office

Baker & McKenzie LLP is planning to build another back office to handle document processing and more complex support services,

Financial Services Compensation Scheme – management expenses levy limit

You should read this CP if you are an authorised firm.

Regulators warn on extravagant hospitality for financial advisers

It comes after regulations were introduced last year to ban commissions paid by fund providers to advisers.

XXIV Old Buildings hires Withers Litigation Partner

International commercial and chancery set, XXIV Old Buildings is delighted to announce the appointment of Sue Medder as Chambers’ Director.

Richards Kibbe & Orbe LLP strengthens London office with heavyweight lateral hire

She has joined RK&O from the prominent Central European law firm Schoenherr, where she was a banking and finance partner.

European Parliament reaches agreement on MiFID 2

European Parliament and Council of Ministers reach informal agreement on rules to regulate financial markets and curb high-frequency trading.

US watchdogs visit Citigroup's London headquarters amid forex probe

News of the stepping-up of the investigation came on the day Deutsche Bank suspended several currency traders in New York as part of an internal probe into the alleged scandal which is now being investigated by a host of global regulators.

BDO warns FCA data collection set to soar

Regulatory consultancy BDO is warning the FCA is set to place a greater burden on regulated firms through increased data collection.

Barclays Traders Said to Face U.K. Fraud Office Libor Interviews

Several former Barclays Plc traders suspected of involvement in Libor manipulation were ordered to report to U.K. fraud prosecutors for interviews.

FCA arrests three in boiler room investigation

The FCA and City of London Police have arrested three individuals as part of an investigation into a boiler room scam.

West End law firm boosts private client offering with new partner appointment

He was a partner in the Private Client department of Lee Bolton Monier-Williams

Police raid the Czech Export Bank

Two state export firms targeted in dawn bust

FCA admits independent, restricted definitions ‘not working’

Director says regulator will ‘redouble efforts’ in coming year, but chief exec says it will not change rules.

HM Treasury update on AIFMD transitional arrangements - Withers

HM Treasury intends to make an amending statutory instrument to this effect in early 2014 but in the meantime, all transitional AIFMs are encouraged to make their applications for authorisation or registration as soon as possible.

BofA’s Merrill Sued in U.K. on Saipem Shares in Italy Probe

Bank of America Corp.’s Merrill Lynch unit was sued by a Portuguese investment firm over a share sale that’s being probed by Italian regulators for potential market abuse.

FCA rejects Apfa call for adviser compensation over fees

The regulator currently separates advisers into two fee blocks, A12 and A13, depending on whether or not they hold client money.

ABN Amro fined for algo blunder

The orders were deleted by an algorithm used by a Hong Kong-based HFT client, Algorithmic Trading Group, with sponsored access through ABN Amro.

RBS shareholder group to pursue legal action

Scotland on Sunday has learned that the RBS Rights Issue Action Group – which represents about 8,000 small shareholders – is preparing to issue proceedings well before June’s statutory deadline.

BlackRock backs Bolton against Italian civil suit

Such matters would usually remain private, but Consob's letter was leaked to an Italian blog at the end of last month, before BlackRock received it, City A.M. understands.

Former top execs to give evidence against RBS in High Court trial

We believe we have strong defences to the claims that are being brought against the group

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