London Evening Standard: FSA bites back over ex-Shell boss
Steve Hawkes,
22 September 2004
THE Financial Services Authority has finally hit back at Sir Philip Watts over his blistering attack on the way the regulator dealt with his case when it slapped a £17m fine on Shell.
The City watchdog claimed it was ‘confident’ an independent tribunal would find in its favour and reject Watts’ claims that it broke its own rules by identifying and prejudicing him in its finding.
Watts last week stunned the City by announcing he was referring the FSA to the same Financial Services and Markets Tribunal currently hearing Legal & General’s challenge to a mis-selling fine.
He argued that the FSA ‘violated’ his statutory rights when it found Shell guilty of stock market abuse over the reserves scandal that brought an end to his reign as chairman of the group.
An FSA spokesman said: ‘We are confident that when reference proceeds, the tribunal will conclude we have respected the rights in this case and that [Watts’] were not prejudiced by the issue of our decision notice.’
The FSA’s comments come as Watts’ successor, Jeroen van der Veer, prepares to unveil his strategy for restoring the oil giant’s fortunes in a crucial presentation to the City.
Analysts say he may detail a huge disposal drive designed to raise up to $10bn (£5.56bn) for the group’s search for new oil and gas reserves.
The City also wants Shell to step up its share buybacks, $2bn so far this year, to keep investors onside as it restructures. But Jonathan Wright, of Smith Barney, said Shell may instead pay a special dividend of up to 32p.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
