Managers of Wealth

Saudi Prince sues Forbes for underestimating his wealth by $9 billion on its ‘rich list’

Prince Alwaleed bin Talal is a very rich man he’s worth $20 billion,

Swiss lawmakers hold up bank deal

Switzerland's parliament halted a bill yesterday that would let Swiss banks hand over client information to the US authorities as part of a clampdown on tax evasion

Raiffeisen reviews compliance after Stepic affair

Raiffeisen Bank International will tighten up its compliance rules

SJ Berwin partners gather in Marbella for crunch meeting on KWM merger

SJ Berwin is set to put its potential merger with Asia-Pacific firm King & Wood Mallesons to partners this weekend (8-9 June) for the first partnership-wide discussion on the deal since tie-up talks began.

Legal expert mulls possible Swiss bank fallout

Manuel Ammann, professor of banking law at the University of St Gallen, believes parliament’s approval of a cabinet-backed bill would make cooperation with the Americans easier.

London threatened by plans to move Libor regulation to Paris

Brussels has drawn up proposals to formalise regulation of a range of pricing structures, from the Libor inter-bank lending rate to benchmarks for oil and gold. Under the plan, Libor would come under the supervision of the European Securities and Markets

Watchdog fines Sesame £6m for advice failings

THE Financial Conduct Authority (FCA) has fined investment firm Sesame £6m for selling life insurance settlement products known as death bonds to customers without spelling out the risks.

Financial transaction tax will have ‘significant implications’ for insurers - TMF Group

But despite suggestions of an overhaul, insurers have been warned the FTT is likely to have “significant implications” for the UK industry regardless of its final construction. Richard Asquith, head of tax at TMF Group

Act now to ensure compliance with UCIS ban - Moore Stephens

The FCA have today released their Policy Statement 13/3 confirming the restriction of marketing and distribution to the retail market of risky and complex products now defined as Non-Mainstream Pooled Investments (NMPIs).

Clifford Chance Joins Linklaters in Raising London Lawyers’ Pay

Three of the U.K.’s highest-grossing law firms raised salaries for London lawyers, who can earn as much as 65,000 pounds ($99,000) in their first year after qualifying to practice.

Wells Fargo, Merrill to pay $5.1 million to settle charges over bank loan funds

Wells Fargo Advisors LLC and Merrill Lynch have been ordered by the Financial Industry Regulatory Authority Inc.

FCA warns against ‘incentivising’ staff

Regulator says where risks cannot be adequately reduced, firms should change the way staff are paid

UBS unit to pay $5.3 million to settle SEC charge

The rule prevents an entity from buying stocks in a public offering if it has shorted those same stocks

New Luxembourg law on dematerialised securities - Maitland

Directly dematerialised securities have already been in place for a number of years in France, Belgium and Switzerland.

Libor-rigging scandal haunts Barclays and Deutsche Bank

Barclays and Deutsche Bank face potentially embarrassing fresh allegations about Libor-rigging in a court hearing set for October.

Private client teams: Rich tapestry

For many years private client work has been seen as the preserve of a handful of smaller, specialised firms acting for very rich people who live a privileged lifestyle alien to most.

New global legal practice Norton Rose Fulbright launches today

Transatlantic combination one of the largest in the history of the legal profession

Birmingham law firm appoints head of private client services

Prior to his time at Cobbetts, he worked at Pinsents and then Putsmans.

ABN Follows ING to Court as Dijsselbloem Calls Foul on EU Terms

The Netherlands is seeking to loosen the shackles the European Union placed on rescued Dutch banks,

Eversheds overhauls sector focus with leaders named for four new indust

The overhaul, which comes after chief executive Bryan Hughes last summer set out the firm's new three-year strategy, has seen the creation of four new sectors – propcos; public sector; consumer; and diversified industrials – and has invol

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