Category Archives: Banking

The Rogue Trader

We had a wonderful Christmas fair.I was in charge of the books. It was lovely being around books and seeing people still interested in them. One member of the church who helped in setting the books came across “Rogue Trader” by Nick Leeson. He told me not to get any ideas. Today the sermon in church was about stories that we tell other people about ourselves. I would rather not discuss the stories of my work. In 2006 I looked forward to the columns by Geraint Anderson. I could relate to a few stories. Some I thought were fiction. I was in the industry for two years when his columns started to come out. I looked forward to what he had to write. I was naive then. Years on from then and a lot less hair I have come to realise it is much worse. Rules are bent every which way. Banks, law firms and tax advisors figure out ways to help their client to minimise tax payment. The High Net Worth people will always end up paying less tax than normal people.Relationship managers don’t want to know whether rules are broken. They just choose to selectively ignore facts. People act like your friends as long as you are of use to them. After that, they do not care. I love investments and investing. I don’t like the world of investments. It is a world where you lose your soul. It is a world where you do not know who to trust. People over there deserve to go through the refiner’s fire. I will not come out unscathed. I have been asked to hide the truth. I have been told to lie to people about the reasons for not getting into investments. Sometimes I feel like bursting out. If I knew what the impact of it would be then I may let myself explode. Until then I may just keep quiet until the burden of that weighs me to death or to the point I will have no option but to reveal all.

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Filed under Banking, Compliance, Family Office, FATCA, Investments, Private Banking, Regulations, Tax Avoidance