U.K. Warns Banque Havilland Over ‘Improper’ Qatar Advice
- FCA says Qatar presentation set out “manipulative trading”
- Banque Havilland says it’s challenging FCA warning notice
The Banque Havilland headquarters in Luxembourg.
Photographer: Olivier Matthys/BloombergThis article is for subscribers only.
Banque Havilland SA, the Luxembourg-based lender that counts Prince Andrew as one of its clients, was issued with a warning notice by the U.K. financial regulator over its alleged role in an economic boycott of Qatar.
Controlled by financier and U.K. Conservative Party backer David Rowland, the lender gave “improper advice” in a presentation that set out “manipulative trading practices” over Qatari bonds, the Financial Conduct Authority said Tuesday. The presentation could be taken to harm the Qatari economy, it said.