Mark Steward, Director of Enforcement and Market Oversight at the FCA said: 'There can be no let-up in tackling insider dealing and this case shows the consequences will be grave and serious ones for perpetrators, even in small cases like this one.
Bermuda captives are increasingly insuring reputational, regulatory, credit, terrorism, mergers and acquisitions, environmental, satellite technology, political and cyber security risks and funding employee benefits.
Burzaco pleaded guilty to money laundering, racketeering and wire fraud conspiracies, admitting he used several banks over almost a decade to launder bribes to soccer officials.
The brothers, who held senior roles at their father’s now-defunct securities business, had to have known about the fraud, trustee Irving Picard claims as he readies another bid to get the estates’ cash.
The level of attention globally generated by the Panama Papers matter, linked to further anticipated public disclosures covering worldwide financial dealings over the coming days, suggest that the authorities in Jersey should be as well prepared as possib