The BVI FSC has issued a press release with regard to Compliance Period Extended under Schedule in AML Regulations, 2008 – Guidance Notes: Read more here: http://bit.ly/1XxadAj
Read MoreInvesco Perpetual Systems and Controls Failings – APRIL 2014
One of the most significant fines of 2014 was the fine imposed on Invesco Perpetual in April 2014 of over £18 million for breaches of Principles 3 and 7. The FCA found that it had failed to take reasonable care to ensure that the systems and controls that it put in place around the front […]
Read MoreFCA Fines Retail Investment Management Firm for Failings Relating to Fund Management
In this report we consider the FCA’s decision to fine Invesco Asset Management Ltd and Invesco Fund Managers Ltd (together, Invesco Perpetual) £18,643,000 for failings relating to fund management and for exposing investors to greater levels of risk than they had been led to expect. Background Invesco Asset Management Ltd and Invesco Fund Managers Ltd […]
Read MoreMAURITIUS, INDIA IN TALKS TO ADDRESS TAX TREATY CONCERNS: FSC
Dispelling ‘misperceptions’ that Mauritius is a tax haven its financial sector regulator has said the island nation is in discussions with India to address concerns and make changes to the bilateral tax treaty. Emphasising that the country provides stability and predictability for investors, Mauritius’s Financial Services Commission (FSC) sought to allay concerns that the jurisdiction […]
Read MoreSEC charges Bahamas-based brokerage firm for enabling fraud.
The Securities and Exchange Commission today charged a Bahamas-based brokerage firm and its president for enabling a fraud that was halted when the SEC charged the hedge fund manager at the center of the scheme. The SEC alleges that Julian R. Brown and his firm Alliance Investment Management Limited (AIM) purported to be the “custodian” […]
Read MoreFSC Communiqué – Presentation on The Criminal Vulnerabilities of International Financial Centres
The Financial Services Commission (FSC) held a Presentation on The Criminal Vulnerabilities of International Financial Centres at the FSC House on 21st of November. The Presentation was conducted by Mr Stephen Platt of Stephen Platt & Associates LLP. Mr Platt is one of the world’s most experienced practitioners in the conduct of regulatory investigations, and […]
Read MoreThe Criminal Vulnerabilities of International Financial Centres
This is the speech of Ms Clairette Ah-Hen, Chief Executive of the Financial Services Commission at the presentation by Mr Stephen Platt on The Criminal Vulnerabilities of International Financial Centres. It was delivered on 21st November 2013. Those also present were: Mr Marc Hein, Chairperson of FSC Mr Dev Bikoo, Director FIU Mr Stephen Platt […]
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