The Italian billionaire Silvio Scaglia turned himself in to police early Friday after flying by private jet from the Caribbean to face allegations concerning a money-laundering ring, his lawyer said. Mr. Scaglia, who founded Fastweb, Italy’s biggest telecommunications company after Telecom Italia, was led away by police after the jet from the Antilles islands touched […]

Strong industry opposition emerged to a draft code of corporate governance for Guernsey’s financial services sector. At the latest Institute of Directors winter series of seminars, which was covering the responsibilities of directors, discussion turned to what members of the finance and legal communities made of the code, which closed for consultation earlier this month. […]

Those who break City rules face a threefold increase in fines for cheating and misleading their customers and for other serious failings, the Financial Services Authority said yesterday. Individuals could be fined up to 40 per cent of their total pay and bonus package, the regulator said in a report that spells out the penalty […]

The Jersey Financial Services Commission (the “Commission”) HAS issued a public statement under Article 25(a) of the Financial Services (Jersey) Law 1998, as amended (the “Law”) TO Mr Michael Keith Sun (“Mr Sun”) Of: 2 Le Clos De Noirmont, St Brelade, Jersey, JE3 8AP. Following an investigation into the fitness and propriety of Mr Sun […]

Jersey: The Increasing Importance Of Non-Executive Directors – Recent high-profile judgments and investigations regarding investment fund structures have highlighted some key points to be bourne in mind both by investors and by fund services businesses. The Jersey Financial Services Commission (the “JFSC”) has been publicly flexing its muscles through active participation in Court proceedings and […]

World-Check have just released a new White Paper – “The FCPA and why it matters” – Written by FCPA practitioner Michael Osajda, the paper explores the US Foreign Corrupt Practices Act (FCPA), the corporate corruption that led to its enactment and why the approach taken by the FCPA has become more important to businesses today. […]

A husband and wife team from Co Tyrone have been jailed for a total of six years and ordered to pay £4m in unpaid taxes after admitting a £4.6m tax fraud. Patrick Gerard Small and Mary Elizabeth Small, trading as Greystone Builders Merchants in Dungannon, failed to declare tax worth £4.6m over a period dating […]

A husband and wife team from Co Tyrone have been jailed for a total of six years and ordered to pay £4m in unpaid taxes after admitting a £4.6m tax fraud. Patrick Gerard Small and Mary Elizabeth Small, trading as Greystone Builders Merchants in Dungannon, failed to declare tax worth £4.6m over a period dating […]