Managers of Wealth

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

HSBC Money-Laundering Investigation Letters Spark Questions Over Rushed Fine

A series of emails and letters released to Public Citizen, a Washington-based advocacy group, paint a partial picture of the Treasury

Vatican bank chief's priority: clean up reputation

The new head of the Vatican bank says his top priority is to clean up the bank's reputation,

Swiss banks break ranks as US tax probe bites

The unified front with which Switzerland's banks have defended their culture of secrecy

Barclays and Lehman Still Clashing Over Cash

It was made very clear' in the asset purchase agreement 'what was going to Barclays and what was staying behind

Liberty Reserve shut down in $6bn money laundering case

US regulators become increasingly concerned about the abuse of online currencies

Ex-KPMG senior partner to plead guilty to insider trading

Investigators then reportedly tape-recorded Mr London passing on information

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