Marquet International, (http://www.marquetinternational.com) have issued a fraud study on embezzlement in the United States. For the purpose of this report, embezzlement is defined as ——the misappropriation of assets by an employee or agent of a company or organization for his or her own purposes. This report studies a variety of critical factors related to the […]

FSA bans insurance company director for deceiving customers and trading in breach of FSMA – On 19 January 2010, the FSA published the Final Notice it has issued to Mark Hazelwood, formerly an insurance broker and director at Synergys Ethical Limited (Synergys). The FSA has prohibited him from carrying out any function relating to regulated […]

FSA publishes independent review of financial promotions compliance – On 19 January 2010, the FSA published the results of an independent three-year assessment of firms’ compliance with its financial promotions requirements. The review examined promotions made in the press and on the internet. The review concluded that there was a high level of compliance with […]

FSA Enforcement round up – During 2009 the FSA imposed a record £34.8 million in financial penalties compared with £22.5 million in 2008 and prohibited 52 individuals from future involvement in the financial services. To see what action they took against smaller firms in December and January. click on the following Enforcement round up link: […]

A Mr Ahmad has been fined £5,000 by the FSA and prohibited from working in regulated financial services for failing to act with competence and capability, which included failing to have suitable compliance and risk management processes in place at Finance.com. His failings and the problems at Finance.com were initially picked up by an FSA […]

This Notice dated 18/01/2010 is issued in respect of the financial measures taken in respect of Iraq. Read More http://www.hm-treasury.gov.uk/d/finsanc_iraq_180110.pdf

Galleon Insider Trader Close To Plea Bargain US federal prosecutors are close to a plea bargain with another man charged in an insider trading case involving the Galleon hedge fund founded by Raj Rajaratnam, the Financial Times said. Mark Kurland, who founded New Castle, a hedge fund, is “finalising a plea agreement”, according to court […]

The Minister for Treasury and Resources signed Amendment No 4 of the Money Laundering Order on Monday 11th January 2010.  The Amendment comes into force on Monday 18th January 2010. read more http://www.jerseylaw.je/Law/Display.aspx?url=LawsInForce%2fhtm%2frofiles%2fR%26OYear2010%2fR%26O-02-2010.htm http://www.gov.je/StatesGreffe/MinisterialDecision/TreasuryResources/2010/mdtr20090219.htm?printfriendly=true