IT'S ALL roundabouts and swings for you taxpayers. Invesco MIM last week admitted 55 charges of breaking city rules and is paying a record fine of 2750,000 and £1.6 million costs, so at least you get some of your money back.
Invesco breached rules on the handling of client money. issued a misleading advertisement, supplied unsatisfactory regulatory information, carried on business outside its permitted areas, kept defective records, failed to provide investors with accurate and timely information and made unsuitable investments on behalf of customers. My kind of Invesco looked after some of the Maxwell pension fund money, and knew at least something of what that great Labour Party member was up to, but failed to grass him up. What's wrong with a bit of solidarity between fellow newspaper proprietors, ask you? earners I'VE JUST been reading about some of the groovy scams now going down in Russia, where the locals are obviously getting the hang of how capitalism works pretty quickly.
According to a new publica. tion from the Royal Institute of International Affairs: "Ten to 20 percent of the oil and at least one-third of the metals exported from Russia in 1992 were smuggled out of the Naturally the revenues from these sales stayed in bank accounts abroad.' Estimated capital flight is put at billions of dollars. A result, or 'FINGERS' fans may remember