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View the article online at http://citywire.co.uk/wealth-manager/article/a649245

Court sides with Coutts over expert who blew the whistle

by Sarah Miloudi on Jan 08, 2013 at 07:31

Court sides with Coutts over expert who blew the whistle

A court has sided with Coutts over claims it backed out a job offer made to a compliance expert who blew the whistle about money laundering failings at a rival bank.

Martin Woods alleged the Queen's bank reneged on an offer made for a £650 a day post, with a court in London hearing that former police officer Woods had signed a contract relating to a compliance position offered in July 2011.

He claimed Coutts backed out of its offer after the bank realised he had raised the alarm about money laundering failures at Wachovia Bank, one of its competitors.

However the employment tribunal  threw out Woods' claim on a legal technicality.

The hearing ruled he was not eligible to press ahead with his complaints against Coutts because he had not started work at the bank at the time of the alleged incident, the Times reported.

Coutts said it had 'consistently denied' the claims against it and was pleased with the tribunal's decision to strike them out.

Woods had been seeking undisclosed damages.

1 comment so far. Why not have your say?

Fundador

Jan 08, 2013 at 09:23

Always the big battalions. So much for pious FSA sermonising on ethics and compliance. Will the FCA now run a fine-tooth over this unassailable bastion of banking, or will it just continue to harry the small man as its predecessor did? No prizes for guessing the answer.

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