AN INSPECTOR CALLS…EMERGENCY CHECKLIST – the Golden rules – General∙∙ Be polite but firm ∙∙ Stay calm, be factual∙∙ If you don’t know the answer to a question, say so∙∙ Tell the truth; never speculate even if asked to do so∙∙ Be helpful (non-compliance may be a crime) but don’t answer incriminating questions∙∙ Consider your […]

Global Financial Integrity: Privately Held, Non-Resident Deposits in Secrecy Jurisdictions – This report from Global Financial Integrity (GFI) on private, non-resident deposits in secrecy jurisdictions finds that the United States, United Kingdom, and the Cayman Islands are the most popular destinations for financial deposits by non-residents. Switzerland, Luxembourg, and Hong Kong also make the top […]

The purpose of the 2009 Powerchex Survey was to reveal trends in candidates’ attempts to deceive potential employers in the financial sector by lying or embellishing the truth on their CVs and job applications. The survey took into account 4,735 applications for jobs in the financial sector made between June 2008 and May 2009. These […]

Financial Ombudsman News – The Financial Ombudsman Service (FOS) has published the latest edition of “Ombudsman News” (Issue 84), which includes: a selection of case studies on recent banking complaints involving “set off”; an interview with Natalie Ceeney, who will be the new Chief Ombudsman and Chief Executive from 22 March 2010; and a selection […]

On 18 March 2010, the Guidelines Monitoring Group (GMG) published “Improving transparency and disclosure”, a guide to good practice reporting for private equity portfolio companies (Guidance) under the Walker guidelines for enhanced disclosure by portfolio companies and private equity firms (Guidelines). The Guidance follows the GMG’s December 2009 annual review of compliance with the Guidelines, […]

Four banks were charged with fraud on Wednesday for their roles in a €1.7bn ($2.3bn) financing package for the Italian city of Milan in a case that will fuel the global debate about the use of complex derivatives. UBS, JPMorgan Chase, Deutsche Bank and Germany’s Depfa will face trial in Milan after a judge ruled […]

The National Fraud Authority and the Metropolitan Police have brought together all the key partners in the mortgage community to establish the Mortgage Fraud Forum. The aims of the forum is to make it much harder for criminals to commit mortgage fraud, as well as to tackle top mortgage fraudsters and increase awareness of mortgage […]

The Information Commissioner’s Office (ICO) has found that the Royal London Mutual Insurance Society breached the Data Protection Act (DPA) after eight laptops, two of which contained the personal details of 2,135 people, were stolen from the company’s Edinburgh offices. The individuals affected were employees of various firms which had sought pension scheme illustrations. The […]