The Applicant in this case, referred to here as X, was a Chartered Accountant and Fellow of the Institute of Chartered Accountants, a body constituted under Royal Charter.

Mr Barrett was authorised to carry on investment business under the trading name of Beechcroft by virtue of his membership of FIMBRA. In March 1986 Mr Taylor, the Applicant in this case, inherited £5,500 which he wished to invest with Beechcroft. In April 1986, on Mr Barrett's advice the...

As money has come to play a central role in modern society the risk of losing money, financial risk, is a major concern for individuals and societies. Yet the understanding and analysis of financial risk in modern finance theory is very weak and incomplete. Its definitions are muddled with risk...

The 1997 revised version of the UK Money Laundering Guidance Notes for the financial sector are about to be published. They represent the results of a year's consultation and clearly demonstrate the financial sector's commitment not to be tainted by criminal money. However, the fight against...

This paper considers the obstacles to the regulation of financial conglomerates and the events that have shaped thinking at the regulators, in particular in the banking context. In the light of the Barings debacle in particular it identifies some of the issues that such financial institutions...

For the foreign investment adviser wishing to do business in the USA, the regulatory climate has never been more propitious. This paper describes the recently restructured framework of federal and state law and regulation applicable to non‐US advisers that provide investment advisory services...

This paper considers, from a compliance officer's viewpoint, the interaction between financial services firms and the PIA. This relationship is looked at in the context of Project Evolution and recommendations for improving the relationship are made.

The Japanese ‘Big Bang’ is expected to cover almost all areas of the country's financial systems. Within the many, differing revolutionary changes, the ‘front runner’ is the reform of the Foreign Exchange Control Law. The objectives of the reform are to make the Tokyo market a global...

The United States Securities and Exchange Commission adopted Regulation S in 1990 to clarify that offshore offers and sales of securities need not comply with the onerous registration requirements of US securities laws. In the short time since Regulation S was adopted, a number of issuers have...

The paper outlines the duties of unit trust trustees in principal/agent terms. It then discusses the reactions of a number of trustees to the suggestion that they might be acting in breach of trust because of poor performance by the funds for which they are trustees. It concludes by offering...