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Paul Gambles

Recognized as a regional financial expert, Paul is a regular speaker at industry events on market forecasting, financial planning, investing and legal issues for foreigners living or doing business in Asia.  Besides Paul’s blog, Paul previously distributed his ‘almost-daily’ email – “Daily Updates”, where he gave his views on timely issues affecting financial markets, macro economics, micro economics and everything in-between.

Born in South Yorkshire, England, Paul graduated from the University of Warwick with an Honours degree in English and European Studies.  He began his financial career in the early 1980s as a technical inspector at HMIT with Inland Revenue.  Following a successful career change to the Bank of Scotland in 1987, Paul moved to Bangkok in 1994 to help set-up an investment counseling practice, which today is known as MBMG International.

www.mbmg-international.com

  

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 23 February 2010

THE DARK SIDE EXPERIENCE

It’s widely held that poachers make the best gamekeepers- various police forces have tried to make use of reformed criminal minds over the years to solve and/or prevent crimes . When the see was set up to regulate American stock Markets, it made a smart choice in picking uber – Scamster Joseph P Kennedy. So maybe there is some glimmer of sense in The FSA appointing Nomura chairman Colin Marshall as a senior adviser on corporate governance just two days after it fined the firm £1.75m for systems and controls failings along with four other senior advisers who have been appointed to work on governance and authorisation under the FSA’s new intensive supervision of significant influence functions within firms (these include an adviser to recently-fined UBS, a director of Carphone Warehouse, which was fined by the FSA in 2006, and an adviser to Morgan Stanley, which was fined earlier this year.)

Nomura’s failings took place during Marshalls ongoing tenure

Sir David Scholey of UBS (fined £8m earlier this month for systems and controls failings which enabled unauthorised trades to take place and losses to be attributed to customer accounts.)

Sir Brian Pitman, senior independent director of Carphone Warehouse Group since 2001, (fined £245,000 by the FSA in 2006 for not treating customers fairly in its sales of phone insurance.) Morgan Stanley was fined £1.4m in May this year for systems and controls failings.

Let’s see whether their experiences on the Dark Side can help the FSA clean up the UK financial sector.