This content is restricted.
Brief
On "28/10/2024", the "Financial Conduct Authority" issued an update regarding "FCA fines Kristo Käärmann £350,000 for failing to notify the FCA of significant tax issues".
The FCA has fined Mr. Kristo Käärmann, CEO of Wise plc and senior manager of Wise Assets UK Ltd, £350,000 for breaching a senior manager conduct rule. He was previously required to pay a fine of £365,651 to HMRC due to his failure to notify them of a capital gains tax liability after selling shares worth £10m in 2017.
The FCA determined that Mr. Käärmann failed to appropriately consider the significance of the tax issues and notify the regulator despite being aware of them for over 7 months. This breach led to a 30% discount on the proposed fine, with the actual amount paid by Mr. Käärmann being £245,000 (£350,000 - £105,000).
Highlights content goes here...
This content is restricted.
RADA.AI
Hello! I'm RADA.AI - Regulatory Analysis and Decision Assistance. Your Intelligent guide for compliance and decision-making. How can i assist you today?
Suggested
