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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 …

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Punch-up in a brewery as Tennent’s faces legal challenge from “Nordic” beer minnow

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Sunday Herald Date: 11 October 2015 London-based drinks business Kolson has accused Glasgow-based Tennent Caledonian Breweries of damaging its business after a contract-brewing deal between the two firms turned sour. Tennent’s owner C&C Group, though, counter claims that Kolson’s actions are simply a “smokescreen” designed to avoid …

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Businesses trashed by RBS ‘vampire unit’ refuse to co-operate with FCA appointed sleuths

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By Ian Fraser Published: Sunday Herald Date: 4 October 2015 Businesspeople who claim to have been ruined by RBS’s Global Restructuring Group are refusing to co-operate with a firm hired by the Financial Conduct Authority to investigate the scandal, potentially derailing the probe into the bank’s so-called “vampire unit”. The …

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CLEANING UP

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: The Treasurer Date: 1 October 2015 Corruption, scandal and bribery are commonplace in the world, but what action is being taken to eradicate these crimes? And what can treasurers do to avoid them? Ian Fraser reports In September 1977, Sir Richard Dobson made some off-the-cuff remarks …

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Tony Blair slammed as a ‘warmonger’ at Edinburgh event

In Blog by Ian Fraser0 Comments

21st August 2015 Tony Blair came under fire at the Edinburgh International Book Festival tonight. The former Labour prime minister was branded a “war-monger” and an Israeli shill by emeritus professor at Oxford University Avi Shlaim, with reference to Blair’s failed role as the Quartet’s peace envoy in the Middle East. Slamming the Quartet …