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9am Lowdown: Governor sends the City a stern warning

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11th Jun 2015
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I see the weekend on the horizon! Here’s the news.

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Governor sends the City a stern warning

Bank of England Governor Mark Carney has declared the “age of irresponsibility” in the banking sector over as he warned that City traders who abused the markets should face up to 10 years in jail.

His stark message came as George Osborne announced that the UK Government would finally commence the sell-off of RBS.

Following a raft of market-rigging scandals, Mr Carney used the Governor's speech at the Mansion House in the City of London to set out plans for new rules for traders.

He warned that if left unchecked the markets were “prone to instability, excess and abuse”, adding that poor infrastructure had lit “a powder keg in UK markets triggering the worst recession in our lifetime”.

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Baker Tilly set to become RSM

Baker Tilly will be rebranding, adopting RSM as a common brand name.

The firm comprises 3,400 partners and staff operating from 32 locations around the country, including Bristol.

RSM International is one of the world's largest providers of tax services and has a presence in more than 110 countries. Baker Tilly originally joined the RSM network in 2014 following the acquisition of Tenon the year before.

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Sign language interpreter in the clink for massive fraud

A sign language interpreter who defrauded the Department of Work and Pensions out of £1m has been jailed for four years.

She and her partner made false claims of working, while they were on holiday.

The court was told that Poole asked clients to sign blank claim forms and then submitted them with dates on which she had been interpreting for somebody else or when she had not been working, including when she was abroad.

When her home was searched, investigators found piles of signed blank claim forms. The false claims were made through a scheme designed to help disabled people get back into work

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On this day

On this day in 1429, the Hundred years’ war begins with the Battle of Jargeau

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By KWest
11th Jun 2015 12:06

The City is not Alone

Tesco's £260 million black hole over which auditors may or may not have been deliberately misled could be one indication of the need to apply the law generally, especially that arising from the Companies Act, far more stringently than has been the case these past few years.

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