BusinessCompany News£25m fund to fight ‘investor terrorism’

£25m fund to fight 'investor terrorism'

Leading City institutions and the government are in talks aimed at combating the type of 'investor terrorism' that drove controversial drug testers Huntingdon Life Sciences to the brink of bankruptcy and forced Deloitte to drop the company as an audit client.

Link: SHAC on trail of Huntingdon’s next auditor

Although the talks are still at an early ‘planning stage’, measures under discussion include a £25m war chest to reward those that come forward with information leading to the conviction of extremists.

‘We have talked about this on an informal basis ever since Huntingdon Life Sciences,’ a spokesman for the National Association of Pension Funds said. ‘It’s something we’ve been talking about with the Confederation of British Industry and the relevant government departments.’

The spokesman was unable to confirm where the money for the rewards would come from, saying it was one of the aspects that still needed looking at. ‘We are a non-profit organisation, so it’s something the NAPF will not be able to find,’ the spokesman said.

Big Four firm Deloitte was forced to drop HLS in February last year, after months of protest from animal rights protesters Stop Huntingdon Animal Cruelty. Deloitte’s offices around the country were subject to daily pickets by protestors, and the Animal Liberation Front claimed responsibility for putting a concrete slab through the glass-panel front door of Deloitte’s Nottingham office.

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