In our latest podcast, Matt Greene, Associate Director in our tax disputes team is joined by Rachel Couter, who leads our contentious financial services practice, to discuss how non-compliance with tax obligations can have an impact if you hold a senior position in the financial services industry.
Financial regulators require senior individuals (who undertake certain functions) to be "fit and proper" and can ban (and possibly fine) individuals who do not meet that standard. Proceedings or investigations by HMRC into an individual in their private capacity need to be disclosed when applying for "approved person" status.
The speakers discuss a recent sample case, highlighting some key elements, and also look at the position of the employing business - which can be disciplined by the FCA in certain circumstances. The podcast looks at what the business should be doing to protect against that situation.
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