Friday, February 17, 2012


I was once fined £50 for breach of the peace. An offence that still uses the term "causes alarm to the Queen's lieges". "Merrill Lynch, broker has been fined £350,000 by the Financial Services Authority for engaging in "market abuse" ahead of a fundraising by Punch Taverns. Andrew Osborne, who was managing director of corporate broking at Merrill Lynch International and described by the FSA as a "trusted gatekeeper of inside information", disclosed information ahead of the £375m cash call by the pubs group in June 2009." (Guardian, 16 February) Obviously Mr Lynch's defence " I am a greedy bastard and will do anything to make a couple of bob", was more powerful than my apology. "Your honour I may have been a little pissed at the time and I should not have said to the arresting officer I deny everything - including the law of gravity". With more money you get better lawyers and in this case bigger fines. RD

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