Financial Times: FSA considers tougher penalties
“The FSA recently imposed a £17m fine on Royal Dutch/Shell, but the Securities and Exchange Commission, the US regulator, issued a $120m (£66.7m) penalty.”
Published: October 1 2004
The Financial Services Authority could increase the size of its fines if companies regard the penalties as a “minor cost of doing business”. Callum McCarthy, FSA chairman, said it was important enforcement actions carried a clear message. “If there were not a clear reputational risk associated with our action, if people regarded it as a minor cost of doing business, we would have to reconsider, including the amount of the fines,” he said. The FSA recently imposed a £17m fine on Royal Dutch/Shell, but the Securities and Exchange Commission, the US regulator, issued a $120m (£66.7m) penalty.
Mr McCarthy also said the FSA was willing to reform itself in response to findings by an independent tribunal that deals with challenges to enforcement decisions. He also acknowledged the inevitability that some FSA enforcement actions would be rejected or varied by the Financial Services and Markets Tribunal.
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.
