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

Corries digs in for ex-miners’ pension justice

The lawyer said many workers’ pensions were reinstated after a UK government review in 1994 forced companies to allow former employees to re-join schemes.

The Wrecking Ball vs the Crystal Ball – planning a parallel scheme of arrangement

The obiter dicta in both cases is consistent with well-established Drax point.

EU takes Luxembourg to court over money laundering rules

European Commission started infringement procedure against Luxembourg in 2016 over late adoption of EU rules

ASIC Extends Australian Financial Services Licensing Exemptions For Foreign Financial Service Providers (FFSPS) Until 31 March 2023

This gives those FFSPs additional time to consider their options and to make a decision about next steps once Treasury’s upcoming consultation is complete.

Sustainable Finance: The rise and rise of ESG

The Covid pandemic further magnified the focus on ESG, with many people and businesses reassessing priorities in light of its acute and immediate human impact.

Damages ruling could undermine data breach class actions in the Netherlands

More than 64,000 parents across Europe have reportedly paid a fee to participate in SOMI’s claim

FCA introduces rule to protect customers from insurance ‘loyalty penalty’

As a result, the FCA included more guidance and detail on areas such as the treatment of incentives in the final rules.

Family Offices Receive Increased Regulatory Scrutiny

Review of the family office exemption could be addressed in several ways.

BMA Introduce 'May 2021 Guidance' for Digital Asset Business

The Bermuda Monetary Authority (BMA) recognizes the importance of actively monitoring its laws and regulations to ensure harmony with the undertakings which it regulates.

New independent group to help tackle ‘greenwashing’

The Green Technical Advisory Group (GTAG) will provide independent, non-binding advice to the Government on developing and implementing a green taxonomy in the UK context.

EU standard contract clauses bolstered for international data flows

The SCCs can be inserted into commercial contracts.

European Commission adopts new tools for safe exchanges of personal data

The Commission can adopt standard contractual clauses for the relationship between controllers and processors, as a tool to help to demonstrate compliance with the GDPR.

DBS issues first tokenised bond on digital exchange

DBS' current transaction combines existing legal and tax infrastructure requirements with a direct issuance on the digital exchange in smaller lot sizes, according to a report.

Subscription Line Finance – Irish Funds

This article sets out an overview and comparison of the most common regulated and unregulated Irish fund types

Climate Change: A Board Level Consideration

In this update we consider the duties of Guernsey directors in relation to climate change as part of Guernsey Green Finance's Sustainable Finance Week 2021.

HMRC confirms that donations made by waiving a refund or loan repayment are eligible for Gift Aid

HMRC has now made a further important update to its detailed guidance notes in relation to what it considers a donation, and what types of donation are eligible for Gift Aid.

Five steps to business continuity in UK financial services – managing third party risk

When disruption occurs, it is important for effective crisis communication measures to be put in place

ASIC permanently bans Sydney financial planner

To prevent future harm to clients of financial services businesses.

Well Connected

The most recent development — which spans across personal data protection, investor protection and mitigates against money laundering, should be taken into careful consideration by those who plan to make use of the Wealth Management Connect scheme.

AML and Brexit: golden opportunity or time to close the vault?

Lawyers are encouraged to undertake risk assessments for each client, basing their judgement on a holistic consideration of multiple factors.

Government Regulation