03/31/2013

Deloitte Boss Blames Law For Tax Avoidance

As an example of a practice no longer deemed acceptable, he cited the way banks used trust arrangements to pay bonuses to employees that meant they avoided national insurance and allowed them to defer the tax on those bonuses.

03/26/2013

FSA fines Prudential £30m and censures CEO over failed AIA bid

Prudential failed to deal with the FSA in an open and cooperative manner when it was seeking to acquire AIA in early 2010, because it did not inform the FSA of the proposed acquisition until after it had been leaked to the media on 27 February 2010.

03/26/2013

FSA fines IFA firm £56,000

The Manchester-based firm advised 98 clients to invest a total of £3.1m in Keydata’s life settlement products between September 2005 and April 2009.