Speech by Megan Butler, Executive Director of Supervision - Investment, Wholesale and Specialists at the FCA, delivered at The Pan Asian Regulatory Summit 2018, Hong Kong.
Scourfield, from Reading, admitted conspiracy to corrupt, money laundering and four counts of fraudulent trading last August and was jailed for 11 years in February 2017.
The 7,000 small investors who signed up to the group won a £200 million settlement from RBS in June last year, meaning the bank could avoid a high-profile court case.
The MoU also establishes a framework for exchange of information, regular dialogue as well as regulatory cooperation in relation to the cross-border offering of eligible Hong Kong public funds and United Kingdom retail funds.
They used encrypted computers, had business cards without the lender’s logo and were told to switch hotels regularly, according to prosecutors.
In Switzerland, he is not an unknown entity either: the Swede has aristocratic roots, his father was a well-known diplomat, and clients he allegedly defrauded have turned to Swiss regulator Finma.