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 Hair loss explained: How and why men go bald
- 2 Game of Thrones season 6: Jon Snow theorists believe the Stark may have a twin sister
- 3 Artist takes LSD, draws herself over different stages of the 9-hour trip to show its effects
- 4 A pint of water every day is the key to losing weight, scientists say
- 5 Russia 'accidentally reveals' number of its soldiers killed in eastern Ukraine
Most expensive city to live in for expatriates: Luanda, Angola takes number one spot with Hong Kong and Zurich in top three
Video of Irish 'professional boxer' fighting Istanbul neighbourhood goes viral in Turkey
Irish tourist filmed fighting with shopkeepers in Turkey says 'they messed with the wrong man'
House of Lords: Outcry as donors, fixers and MPs caught up in expenses scandal are handed peerages
Moody neurotics are more likely to be creative geniuses, study says
Dresden riots: Protesters in Germany attack refugee buses shouting 'foreigners out'
France train shooting: US soldiers speak of the moment they stopped gunman and 'beat him until he was unconscious'
Labour leadership: Jeremy Corbyn accused of 'deluding' young supporters with 'claptrap'
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith calls for urgent ESA overhaul as part of drive to cut down welfare costs
iJobs Money & Business
£13000 - £25000 per annum: Recruitment Genius: Would you like to be part of a ...
£20000 - £25000 per annum + competitive: SThree: Are you passionate about sale...
£25000 per annum + benefits: Ashdown Group: A large financial services company...
£20400 per annum: Ashdown Group: An established and highly reputable organisat...