Inna Soloviova’s Post

Good to see active listening to industry with a focus on Scottish growth

Check out this article from Financial Times reporting that NatWest is suing its former General Motors unit for €155mn over financial crisis-era deals. It's a reminder of the long-lasting impact of the financial crisis. #NatWest #FinancialCrisis #LegalAction https://ift.tt/e0qQoxr

The recent revelations about ANZ Institutional Sales (ANZ IS) manipulating government bond sales have sent ripples through the Australian business community. This isn't an isolated incident; it's part of a broader pattern of scrutiny facing major corporations in Australia. 🔍 Current Context: Corporate Governance: According to a recent survey, 58% of Australian businesses are under increased regulatory scrutiny following high-profile cases of misconduct. Market Confidence: A significant 72% of investors have reported diminished confidence in financial institutions, calling for more stringent oversight and transparency. Economic Impact: The fallout from corporate scandals has led to a 15% decline in stock market valuations for affected companies over the past year. As professionals, we must stay informed and proactive. The implications of these events are far-reaching, affecting market integrity and investor trust. Let’s engage in meaningful discussions on how we can collectively uphold ethical standards and restore confidence in our financial systems. #Finance #Ethics #MarketIntegrity #Regulation #ANZ #UNSW #AustralianBusiness #CorporateGovernance https://lnkd.in/dEdJE2Qj

Books continue to be for me, a way to gather insights, so nothing beats a well researched "behind-the-scenes" story. When RBS collapsed and had to be bailed out by the taxpayer in the financial crisis of October 2008 it had lasting impacts on the UK economy and Financial Services sector. Iain Martin's account of how RBS (a small Scottish bank), grew so quickly to become a global financial giant that could do such immense damage when it collapsed in 2008 was a compelling read. Packed with insights into the roles played by various parties in the bank's failure; RBS' senior executives, board members, the UK Treasury and the Regulators. My key takeaways were: 1. That executives need to understand the underlying risks of the business they run (where have we heard that before, l wonder?) 2. Appropriate governance and board challenge is a basic essential for every organisation, a must have, not a "nice to have". Thanks to Murray Steele for the recommendation ... #makingithappen #sustainablecareers #careersuccess

"Navigating the complexities of financial landscapes: A significant moment as a major Swiss bank, Banque Pictet, acknowledges its involvement in a $5.6 billion conspiracy to conceal funds from the IRS and others. In an effort to rectify, Banque Pictet has committed to paying approximately $122.9 million in restitution and penalties as part of a crucial agreement with prosecutors. The journey ahead involves strict compliance with the deal's terms, leading to a three-year deferral of prosecution by the Justice Department. The eventual dismissal of a criminal conspiracy charge reflects a commitment to transparency and reform. #FinancialNews #BankingEthics #LegalCompliance"

Please forget politics for a moment - this is a threat to industry. Don't take my word for it, wait for video 2, and listen to what Daniel Hodson, the former CEO and FD of the Nationwide, has to say about the de-banking scandal. He also states that more exposure [of this behaviour] is required, and thanks Nigel Farage for 'doing it'. In (this) video 1, lasting nearly 7 minutes, one will gain an understanding of the Banks culture, and the vast amount of unproductive work they do, on this occasion, to build a 600+ page dossier of Nigel Farage's affairs, and their personal views about him. Approx. 40% of this unproductive work/needless expense and Alison Rose's (potential) multi million pound pay off is being covered by you, the taxpayer! Yet again, the 'sincere apologies' come AFTER such shocking behaviour is exposed! https://lnkd.in/gNTwdzki

How well does your personal and business wealth team work together? The professionals at The Preferred Legacy National Trust Bank will work hand in hand with your current advisors to make sure your financial team has access to all of the best knowledge out there. Contact us to coordinate with your wealth team: https://lnkd.in/ePBbSxiC   #thepreferredlegacy #creatinglegaciesthatlast

🌐 Major Financial Revelations: Swiss Bank Banque Pictet Admits to Hiding $5.6 Billion from IRS 🌐 In a startling admission, Banque Pictet, a leading Swiss bank, has confirmed its involvement in a conspiracy to hide over $5.6 billion from the Internal Revenue Service (IRS). The private banking division of Pictet Group will pay approximately $122.9 million in restitution and penalties as part of an agreement with prosecutors. This revelation comes after the bank held 1,637 accounts on behalf of American clients between 2008 and 2014, contributing to an estimated $50.6 million in U.S. tax evasion. The Justice Department's deferred prosecution agreement hinges on Banque Pictet's compliance with the terms. Stay connected for more updates on this intricate financial case as it unfolds. Critics question the bank's means of hiding accounts and its involvement in creating offshore entities solely for tax evasion. The story underscores the complexities and challenges in financial systems worldwide. For comprehensive coverage of this ongoing financial saga, stay connected with #TopAccoladeNews. 📰 #BanquePictet #IRSRevelations #FinancialNews

Our experts at Hawksford explain why geopolitical tension and wealth transfer are set to continue to dominate in 2024 private banking markets. Read the full article below, written by Laura Nevitt, Head of Family Office and Darren Kelland, Head of Private Clients Services at Hawksford. https://hubs.ly/Q02klp1p0 #WeAreHawksford #familyoffice #privateclients

Check it out in this morning's edition of Politico's "Morning Money" : Discussions of capital requirements for the Nation's largest banks will be center stage on The Hill over the next two days. #financeandeconomy #banking #bankingindustry