Daily Telegraph

Tony Shearer, merchant banker – obituary

Posted 31/10/2017 - 13:54 by anrigaut

2017-10-31 (All day)

Tony Shearer, who has died aged 68, was chief executive of the merchant bank Singer & Friedlander until it was acquired by Kaupthing of Iceland, which rapidly drove it into bankruptcy. ....

Note (anrigaut): Sad news. The obituary is worth reading for the history (KSFIOM even get a brief mention) but is behind a paywall (I discovered you can register for free to read one article per week and was able to read it that way). If only the FSA had listened to Tony back in 2005 ...

5
Your rating: None Average: 5 (1 vote)

Savers hit as Bank cuts protection on deposits to £75,000 for first time since financial crisis

2015-07-02 23

Cash in bank accounts will only be guaranteed up to a limit of £75,000 from January 1, 2016, the Bank of England has said, down from the current limit of £85,000, because of the euro's weakness against the pound.

Senior Conservative MP Andrew Tyrie called the decision "absurd" and urged the Chancellor George Osborne to push for the EU's rules to be changed to allow the guarantee to be raised back up to £85,000.

.....

0
Your rating: None

SFO settles with Robbie Tchenguiz

Posted 31/07/2014 - 10:40 by anrigaut

2014-07-30 23

The Serious Fraud Office has settled Robbie Tchenguiz's damages claim for wrongful arrest just days after it settled a related claim with his older brother Vincent.

The financial watchdog will pay £1.5m to settle claims brought by Mr Tcehnguiz junior, his property investment company R20, and his trustee, Rawlinson & Hunter Trustees.

The claims stem from his arrest and the dawn raid on his home in March 2011.

The raid related to an investigation into the collapse of Kaupthing, the Icelandic bank, and its British subsidiaries.

Mr Tchenguiz and his related companies have also been awarded costs, to be determined by the High Court. ...

0
Your rating: None

New watchdog’s chairman urged to resign over auditors’ role in HBOS debacle

Posted 08/04/2013 - 08:59 by anrigaut

2013-04-07 23

Tony Shearer, the former chief executive of Kaupthing Singer & Friedlander, and Paul Moore, the HBOS whistleblower, have demanded Mr Griffiths-Jones’ head in protest at his role as chairman of accountants KPMG until last year, which as auditor gave the bank a clean bill of health in the run-up to the crisis.

The attack on the chairman of the FCA, which was officially set up only last week, adds another leading City figure to those caught in the HBOS fall-out.

...

Mr Griffiths-Jones was head of KPMG when it audited HBOS, Bradford & Bingley, and Singer & Friedlander, all of which were rescued by the taxpayer. KPMG also sided with HBOS in an internal report in 2004 against Mr Moore, whose warnings about the bank’s risk controls have since been vindicated. In a letter to Andrew Tyrie, chairman of the PCBS, Mr Shearer said: “A wise person would have understood that the former chairman of KPMG could not be chairman of the FCA.

So why did Mr Griffiths-Jones accept the role, and why did the Treasury and the Bank of England ever think of asking him? He has to now resign.”

Mr Moore said: “It is out of the question that Mr Griffiths-Jones should be staying where he is.”

The FCA declined to comment.

0
Your rating: None

City Diary: Whisper it but SFO may settle with Tchenguizes

Posted 13/12/2012 - 20:19 by anrigaut

2012-12-11 (All day)

The Serious Fraud Office expects to settle the £200m-plus compensation sought by property tycoons Vincent and Robert Tchenguiz out of court.

That’s the message from the directions hearing between the SFO and Tchenguiz family trust Rawlinson & Hunter Trustees last Monday, where Jeremy Johnson QC dropped strong hints that the planned trial date could be scrubbed out of the diary. ...

0
Your rating: None

Tchenguiz brothers launch damages case against SFO

Posted 03/12/2012 - 10:02 by anrigaut

2012-12-02 (All day)

Mayfair-based entrepreneurs Vincent and Robert Tchenguiz will launch their multi-million pound damages case against the Serious Fraud Office today. ...

0
Your rating: None

Robert Tchenguiz bail move signals the end of SFO investigation

Posted 17/09/2012 - 09:42 by Tricky Dicky

2012-09-14 22

Property entrepreneur Robert Tchenguiz has been released from bail, leading to a growing belief that the Serious Fraud Office is preparing to drop its long-running investigation of his business activities.

0
Your rating: None

Serious Fraud Office needs proper funding, warns Tchenguiz judge

Posted 24/05/2012 - 20:37 by anrigaut

2012-05-23 23

Presiding over a judicial review into the arrests and searches warrants against Robert and Vincent Tchenguiz, Lord Justice Thomas said proper funding would allow the SFO to deal with investigations with “clarity”. ...

0
Your rating: None

Icelandic bank Glitnir to repay UK councils

2012-03-14 (All day)

"More than 50 local authorities that held money with the failed Icelandic bank Glitnir are to be paid in full more than three years after the bank collapsed.

The bank’s winding up committee announced it was to release €635m (£527.3m) to priority creditors on Friday.

The cash will be paid into escrow accounts before being distributed to creditors – the majority of which are understood to be UK councils. ... "

5
Your rating: None Average: 5 (1 vote)

Isle of Man must 'prepare for greater transparency'

Posted 22/02/2012 - 21:50 by anrigaut

2012-02-22 (All day)

Offshore financial centres will come under continued international pressure to be more open in their affairs, the Isle of Man treasury minister Eddie Teare warned this week in his annual Budget speech.

He told the Manx Parliament, the Tynwald there was much “ill informed comment “ about “so-called tax havens” but he expected further international initiatives on tax issues which would affect offshore centres. ...

See also: http://www.iomtoday.co.im/news/isle-of-man-news/the_isle_of_man_budget_a...

0
Your rating: None
Syndicate content