Prando's Asset Management - Raouls and regulations

The chairman explains the secret of a reliable tax-haven lawyer

clock • 3 min read

"Do you reckon Chris Cummings has bet someone he can be the boss of every major financial trade body before he retires?" asked the chairman of the improbably-sized investment company Prandeamus Asset Management when I dropped by to see him this week.

"Either that or he's down to win a fondue set or cuddly toy if he collects the set," I guessed. "Now, forgive me for changing the subject so soon in the conversation but I was wondering when we might start seeing Prando's mentioned in connection with the so-called ‘Panama Papers'?" "Ah, yes," sighed the chairman. "You know things are in a pretty bad way when you can't even rely on your offshore tax-haven lawyer to keep your name out of the media. "But I fear, as so often, you have underestimated me." "You mean you don't use a Panamanian law firm to finesse some of the more exotic elem...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Infrastructure: A good investment gone bad – and then good again?

Infrastructure: A good investment gone bad – and then good again?

'Infrastructure - a victim of a unique set of circumstances'

Darius McDermott
clock 02 May 2024 • 5 min read
Investment opportunities 'differ by client age group'

Investment opportunities 'differ by client age group'

‘Advisers should consider personal circumstances when it comes to investment’

Isabel Baxter
clock 02 May 2024 • 1 min read
Future of Investment Festival: Our specialist sessions for advisers

Future of Investment Festival: Our specialist sessions for advisers

Future-proofing advice, building sustainable portfolios, all things SDR

Professional Adviser
clock 02 May 2024 • 2 min read