SFO bins Keydata probe to hunt SLS assets

Laura Miller
clock

The Serious Fraud Office (SFO) has given up trying to prosecute anyone over the collapse of Keydata, as it has insufficient evidence to continue with the case, it has said.

It began investigating Keydata in July 2009, a month after the firm was put into administration, following a referral by the FSA. But almost two years later, in what has emerged to be one of the biggest financial services scandals in a decade, it has said it will no longer pursue the case. In a statement on its website it said: "In the last quarter of 2010 we reviewed all of the information and intelligence we had on our Keydata case and cases related to it. "After extensive consideration we concluded that we had insufficient evidence to secure a prosecution in this case" The SF...

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

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 19 April 2024 • 2 min read
Why non-transparent managers are behind most failed acquisitions

Why non-transparent managers are behind most failed acquisitions

‘They don’t understand the importance of culture and cohesion’

Rami Cassis
clock 12 April 2024 • 3 min read
Partner Insight: Understanding the investment universe

Partner Insight: Understanding the investment universe

Invesco
clock 12 April 2024 • 6 min read