Ethics and governance in the European Financial centers

Following the Hearing of the Permanent Subcommittee on Investigations (PSI) of the US Senate, LGT Group asserted that it has always conducted its business in accordance with the applicable legal and regulatory provisions. The data under investigation by the PSI – which is based on the data stolen from LGT Treuhand in 2002 and goes back to the 1970s - is from a time when different regulations applied and when there was no Qualified Intermediary (QI) agreement in place. The specific cases mentioned in the subcommittee’s report are dated and do not in any way reflect LGT’s current business practices.

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