IMRO threat to 23 firms
Thursday 22 February 1996
Both companies' financial services arms are among 23 past and present members of Imro now facing possible disciplinary action, including heavy fines, for their role in the affair.
Others believed to be under investigation include Alexander Clay & Partners, the actuaries, and Godwins, a national firm of independent financial advisers.
The companies, thought to have carried out tens of thousands of pension transfer cases between them, have instructed several top City legal firms to represent them in their battle with Imro. Among the lawyers believed to have been retained by the threatened firms are Linklaters & Paines and Cameron Markby Hewitt, which have both acted on behalf of financial services institutions to be fined on earlier occasions.
The firms under investigation were among many which carried out financial services business while regulated by Imro until early last year. Thereafter they joined another regulator, the Personal Investment Authority.
Several of those under investigation are complaining that the watchdog's threat to discipline them contrasts with a softer position so far taken by the PIA. They are also understood to have appealed to the Treasury for help to avoid heavy fines.
A spokesman for Willis Corroon confirmed that his company was helping Imro's investigation. Sedgwick refused to comment.
- 1 Snoop Dogg and Jared Leto buy a stake in Reddit as A-list invests $50m
- 2 Prince held a Facebook Q&A and this is the only question he answered
- 4 Now we know whose fault it is if you end up being murdered in Thailand
- 5 35,000 walrus gather ashore on north-west Alaska beach 'for a rest'
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
The Osborne Ultimatum: Chancellor’s benefits freeze bombshell will affect ten million households
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Should gay sex be illegal? 16% of Britons think so
Mark Reckless becomes second Tory MP to defect to Ukip in a month
Benefits 'smart cards' plan revealed by Iain Duncan Smith to stop claimants spending welfare money on alcohol
- < Previous
- Next >
iJobs Money & Business
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...
£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...
Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...