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Just how corrupt is the UK?

In Blog by Ian Fraser1 Comment

By Ian Fraser 13 May 2016 How corrupt is Britain? Over the past few days quite a few people have been insisting Britain isn’t corrupt. They claim to see nothing wrong with Cameron describing countries such as Afghanistan and Nigeria, whose leaders were in London for the Anti-Corruption Summit in Lancaster House this week, …

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RBS boss Ross McEwan answers critics live on LBC

In Blog by Ian Fraser0 Comments

29 April 2016   Royal Bank of Scotland chief executive Ross McEwan appeared on LBC for a half-hour phone-in chaired by Nick Ferrari on 20th November last year. Callers included Ray Perman, former FT journalist and author of Hubris: How HBOS Wrecked The Best Bank In Britain, who asked some powerful questions …

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Why we should worry about FRC evasiveness over HBOS

In Blog by Ian Fraser1 Comment

30 March 2016 By Atul K. Shah The failure of the UK’s fifth largest bank, HBOS, led to over £52 billion of losses, and had a significant impact on jobs, pensions and savings for thousands of people. In spite of a large number of enquiries and reports, no-one has gone to …

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KPMG’s annual report—vague about ethics

In Blog by Ian Fraser0 Comments

25 March 2016 By  Atul Shah The growing size and influence of “big four” accountancy firms as they further transform themselves into global business services supermarkets is generating alarm among many who are concerned about ethics, independence and truth. Our research at Suffolk Business School has raised a number of questions …

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Guest blog: The ICAEW’s Michael Izza is wrong on UK status

In Blog by Ian Fraser1 Comment

18 March 2016 By Tony Shearer In the current issue of economia, house magazine of the Institute of Chartered Accountants in England and Wales, the institute’s chief executive Michael Izza (pictured right) let it be known that the UK had, once again, become one of the world’s ten least corrupt countries, …

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Open Letter to Nicola Sturgeon—are bankers ‘above the law’?

In Blog by Ian Fraser0 Comments

4th March 2016 [UPDATED 10TH MARCH 2016 TO INCLUDE A STATEMENT FROM POLICE SCOTLAND] It is increasingly apparent that our supposedly “independent” prosecutorial agencies — which include the Crown Prosecution Service in England and Wales, and the Crown Office and Procurator Fiscal Service in Scotland — are useless when it …

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Europe’s future: Whatever it takes

In Article Library by Ian Fraser

By Ian Fraser Published: The Treasurer Date: 1 March 2016 Policymakers in Brussels and within European parliaments still face turbulence as they endeavour to encourage growth and restore unity. Treasurers are more sanguine, but likewise treading carefully. Ian Fraser reports Back in July 2012, after a turbulent period when the …

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The 47 scandals that prove it’s no time to go soft on banks

In Blog by Ian Fraser3 Comments

19th November 2015 In an important speech given at the Finance Watch conference in Brussels on Tuesday, Robert Jenkins — a former member of the Bank of England’s financial policy committee — highlighted the dangers of a two-tier justice system in which senior bankers are effectively ‘above the law’. He also said that 47 banking scandals and …

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UK regulators pronounce on HBOS

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Financial Intelligencer Date: 18 November 2015 Seven years since HBOS crashed and burned, we are about to find out why, from a report to be jointly published on Thursday morning by the UK’s Financial Conduct Authority and Prudential Regulation Authority (part of the Bank of England). …

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Petrobras scandal’s key witness speaks out

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: The Financial Intelligencer Date: 13 November 2015 The former oil industry executive whose evidence kicked off the corruption probe into Brazilian energy giant Petrobras – a scandal which has tipped Brazil into recession and may yet bring down its government – has spoken out for the …

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George Osborne unveils a quack cure for RBS

In Blog by Ian Fraser0 Comments

11th November 2015 It was midway between the canon of lamb and the passing of the port that George Osborne rose to his feet. Addressing a room of 350 white-tie wearing bankers, the 44-year-old Chancellor of the Exchequer seemed to have a spring in his step. Just a few weeks earlier, …

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Steve Baker: The government is flying blind on banking

In Blog by Ian Fraser0 Comments

8th November, 2015 In a stark warning to the government, the MP Steve Baker has said we’re flying blind where RBS and the wider banking system are concerned, as accounts prepared using International Financial Reporting Standards (IFRS) cannot be relied upon. In what was the stand-out contribution to last Thursday’s House of …

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Classic over-reach as Goodwin boasted about RBS’s immensity

In Blog by Ian Fraser0 Comments

7th November 2015 The FactSheet compiled by RBS’s senior communications executive and deputy chief economist Andrew Wilson in February 2007 pleased his master, the bank’s chief executive, Fred Goodwin, as it put RBS’s financial success in context. But it was also incredibly bombastic and dangerously hubristic Royal Bank of Scotland issued an …