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Two Forex Agents Banned After Misappropriating £9m

Two directors from the UK were disqualified for 12 years each after they used funds from existing clients to payback previous clients. The directors' company entered into loan agreements with existing clients worth around £9.1 million for forex trades, in return for interest and loan repayments. The Insolvency Service later discovered that at least £8.4 million was used to make interest and loan repayments to previous clients.

United Kingdom, Company & Commercial, Insolvency & Restructuring, White Collar Crime, Addleshaw Goddard LLP, Fraud
Governance & Compliance update - Issue 174

Included in this update: Government extends temporary COVID-19 measures in CIGA 2020 and more...

COVID-19

CIGA 2020 extensions in force

European Union, United Kingdom, Capital Markets, Company & Commercial, Insolvency & Restructuring, Public, Tax, White Collar Crime, Addleshaw Goddard LLP, Brexit, Libor, Modern slavery, Money laundering, ESG, Coronavirus, Financial Conduct Authority (UK), European Commission, HM Revenue and Customs (UK), European Securities and Markets Authority, Modern Slavery Act 2015 (UK)
Governance & Compliance Update - Issue 165

Included in this update: Corporate Insolvency and Governance Bill introduced to Parliament; FRC updates guidance on corporate governance and reporting and more...

Corporate Insolvency and Governance Bill introduced to Parliament

United Kingdom, Company & Commercial, Compliance Management, Insolvency & Restructuring, Addleshaw Goddard LLP, Corporate governance, Moratorium, Annual general meeting, Coronavirus, Financial Reporting Council