“serious and persistent breaches” of the territory’s financial services legislation finance companies get £800,000 bill for Marrache administration

International Adviser :: Gib finance companies get £800,000 bill for Marrache administration: "The Marrache saga began in February when the FSC cancelled nine licences of Marrache & Co, saying that an investigation had revealed “serious and persistent breaches” of the territory’s financial services legislation. At the time, Marrache was well known in financial legal circles, where it identified itself as the only Gibraltarian law firm with offices in London, Spain, Lisbon, Prague and Luxembourg.
Three brothers who were principals of the business were subsequently arrested. The case is continuing."

Posted in: “serious and persistent breaches” of the territory’s financial services legislation