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Three Luxembourg businesses searched in SFO Kaupthing investigation

The Luxembourg police have searched three business premises and two residential premises on the back of the Serious Fraud Office Kaupthing investigation.

The search warrants come after overseas assistance requests were made by the SFO and the Icelandic Special Prosecutor’s Office.

The operation relates to the SFO’s ongoing investigation into the circumstances surrounding the collapse of the Kaupthing Banking Group and related investigations by the Icelandic Special Prosecutor.

The operation has involved over 70 investigators from the SFO, Icelandic Special Prosecutor and Luxembourg Police.

Nine men were arrested in London and Reykjavik earlier this month in relation to the Serious Fraud Office’s ongoing investigation surrounding the collapse of the Kaupthing banking Group. High profile entrepreneurs Vincent and Robert Tchenguiz are among those who have been arrested as part of an investigation into the failed Icelandic investment bank.


IFAs have just days to lock clients into GAD

IFAs face a race against time if they want to lock clients into the 120 per cent GAD income rates for the next five years, according to Suffolk Life. Treasury reforms ending compulsory annuitisation come into force in just six days time. Under the new rules, investors entering drawdown for the first time from April […]


Equitable earmarks 12.5% of policy values for capital distribution

Equitable Life has earmarked 12.5 per cent of policy values as at December 31, 2010 to increase payments for with-profits policyholders who leave the group from April 1, 2011. The enhancement, which is not yet guaranteed, was announced as the company delivered its preliminary 2010 results. The insurer currently holds £694m in capital. Equitable says […]

Peace deal plan for banks

Whitehall officials are pushing a three-way deal between the Government, big banks and the Independent Commission on Banking. According to the FT, the move is aimed at preventing  a public confrontation between the banks and the commission, easing tensions between the Conservatives and the Liberal Democrats over banking reform and paving the way for the […]

On the right track

Two weeks ago, I looked at how the detailed integration between True Potential’s client management system and its new wrap offering can deliver real straight-through processing benefits to adviser firms. Wrap providers have the advantage of building new systems but the life and pension community need to achieve a radical transformation in the way it […]


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