FCA: Final Notice: Kristo Käärmann
28 Oct 2024
United Kingdom
1 min read
FCA has fined the individual, CEO of Wise plc and senior manager of Wise Assets UK Ltd, £350,000 for breaching Senior Management Conduct Rule 4. He had been fined by HMRC for deliberately failing to notify it of a capital gains tax liability after he sold shares worth £10m in 2017. In September 2021, HMRC subsequently added him to their public tax defaulters list. The individual failed to appropriately consider the significance of the tax issues and notify the regulator, despite being aware of them for over seven months.
