A THINK TANK designed to improve financial practice in the City has suspended a senior manager and called in the police over alleged fraud in the organisation.
The International Centre for Financial Regulation (ICFR) has reported the incident to the City of London Police.
“The ICFR can also confirm that a member of the management has been suspended pending the outcome of this inquiry,” a statement from the organisation said.
ICFR CEO Barbara Ridpath said: “We consider this situation to be a serious one and it will have a bearing on the future of the ICFR. We are working urgently to find out exactly what has happened, and to resolve the situation in the best interests of all concerned.”
The ICFR was created, and partly supported, by the government as well as private sector backers and the City of London Corporation – an organisation set up to look after the Square Mile business district.
Do you have an investigation looming large over you? Kingsley Napley's Julie Matheson goes through the best strategies to manage the process
FRC investigates why an arrangement between Sports Direct and Barlin Delivery was not disclosed in the company’s financial statements as a related party
The chancellor has “missed an opportunity” to restore business confidence and encourage UK investment, said Mazars
EY has been proposed as the auditors of Schroders after a “competitive” tender process