News

Firm Agrees to Pay $15 Million in Fines – Balli Aviation Ltd., a subsidiary of the United Kingdom-based Balli Group PLC, pleaded guilty in the U.S. District Court for the District of Columbia to a two-count criminal information in connection with its illegal export of commercial Boeing 747 aircraft from the United States to Iran. […]

The biggest probe into BAE focused on a £43bn contract to supply more than 100 fighter jets to Saudi Arabia. The deal began in 1985 but a National Audit Office investigation was suppressed in 1992. The SFO launched an investigation in 2004 into the allegations – including claims BAE was running a “slush fund” that […]

BAE Systems is to pay a fine of $400m (£250m) after pleading guilty to conspiring to make false statements to the US government in connection with international arms deals. The UK’s largest defence group will also pay a penalty of £30m after reaching agreement with the UK Serious Fraud Office to plead guilty to breach […]

SFO withdraws proceedings against Count Alfons Mensdorff-Pouilly – Following our announcement today about the global agreement between the SFO, the US Department of Justice and BAE Systems plc, the Director of the Serious Fraud Office has considered the position in relation to individuals. The Director has taken into account that the company has agreed to […]

The director of a Manchester based mortgage and general insurance firm has been banned by the Financial Services Authority (FSA) from holding senior positions in the financial services industry. The FSA found his failure to comply with client money rules resulted in the loss of roughly GBP 85,000 of his customers’ money. When Bridgewater sold […]

Chairman of Cru Investment Management, which marketed investment funds that have been suspended for almost a year, makes allegations of improper behaviour against manager Arch suspended by the Financial Services Authority last year has written to the Serious Fraud Office outlining his fear that the investment managers of funds he marketed and promoted may have […]

Live audio webinar: Shah v HSBC what does the decision mean? – As part of Comsures own CPD all of its employees, consultants and selected clients will be participating in the public Herbert Smith webinar on Shah v HSBC and what does the decision mean? this webinar will be held on Tuesday 23 February 12.45-1.45pm […]

FSA bans hedge fund manager and fines him £140,000 for ‘mis-marking’ – On 3 February 2010, the FSA published the Final Notice it has issued to Simon Treacher, a London-based hedge fund manager, prohibiting him from carrying on any controlled functions, and fining him £140,000. Mr Treacher was employed as a portfolio manager in the […]