Tax & Regulation
Credit Suisse to pay $47m to resolve Asia hiring probe
Credit Suisse has agreed to pay a penalty of $47m (£35.1m, €40.1m) to the US Department of Justice (DOJ) to end an investigation into whether it hired employees in Asia in return for investment banking business and regulatory green lights.
Football legend says asset manager fraud bankrupted him
Former Premier League footballer Colin Hendry said he will be seeking compensation if an investigation into Kingsbridge Asset Management proves its staff conspired to defraud a large number of its high net worth clients.
DeVere pays $8m to settle hidden Qrops commission case
DeVere USA has agreed to pay an $8m civil penalty stemming from its failure to disclose upfront commission of 7% to clients who were encouraged to transfer their UK pensions via a Qrops, the US regulator has announced.
IFA and ex-rugby star sentenced for £2.4m film tax scam
An independent financial adviser, a former police officer, a city trader and a former Welsh-international rugby player have all been given jail sentences for their roles in a £2.4m (€2.7m, $3.2m) film tax scam after an investigation by HM Revenue & Customs (HMRC).
Regulatory review beckons for Gibraltar
The government of Gibraltar and HM Treasury are looking for a consultant to undertake a “diagnostic review” of the overseas territory’s insurance regulatory regime.