News

Keeping foreign corruption out of the United States: four case histories – A report released by the United States Senate, permanent subcommittee on investigations Committee on Homeland Security and Governmental Affairs in conjunction with the Permanent subcommittee on investigations – February 4, 2010 hearing. This Report examines how politically powerful foreign officials, their relatives, and […]

FSA announces arrest of three men in investigation into suspected insider dealing – On 29 January 2010, the FSA published a press release announcing that three men were arrested on 28 January 2010 in connection with an FSA investigation into suspected insider dealing. According to the press release, search warrants were executed at four addresses […]

Austrian count charged over BAE ‘bribery’ – An Austrian count became the first person to be charged in the BAE bribery investigations. Count Alfons Mensdorff-Pouilly, a former agent for the British weapons giant, appeared before Highbury Corner magistrates’ court to be charged with offering bribes in order to win defence contracts in central and eastern […]

Three men have been arrested in connection with an FSA investigation into insider dealing. The men, all aged 38, were arrested and interviewed yesterday before being released on police bail. No further details have been revealed by the regulator, though it is known search warrants were executed at four London addresses as part of the […]

A High Court ruling has opened the floodgates for HM Revenue & Customs to seek £200m in unpaid income tax from 3,000 members of a tax avoidance scheme run by Isle of Man based firm Montpelier. In a hearing earlier today, the High Court ruled against Robert Huitson, a member of the Montpelier scheme, who […]

Proposed New Prospectus Order – The Jersey Financial Services Commission is proposing amendments to the regulation of prospectuses issued by Jersey ‘certified funds’ – that is, collective investment funds established under the Collective Investment Funds (Jersey) Law 1998, which includes Jersey Expert Funds. The changes are to be introduced by the Collective Investment Funds (Certified […]

The FSA has fined Derbyshire-based IFA Sett Valley Insurance Services and its two partners a total of £49,000 for failures with its sales and advice processes. The failings were identified during an FSA visit focusing on treating customers fairly, which is part of the regulator’s assessment programme for small firms. The investigation identified a number […]

Indian businessman Raj Arjandas Bhojwani, who is accused of laundering millions of dollars used for paying bribes, makes his way into court. ONE of the Island’s biggest-ever money laundering trials began in the Royal Court yesterday. The case allegedly involves a former Nigerian president, an intricate plan to sell hundreds of military vehicles to Nigeria […]