Financial News – By Tim Cave June 12, 2012
The chief financial officer of IMC, a leading Dutch high-frequency trading firm, is to step down following a tax probe into his private financial affairs, according to a statement released by the company yesterday.
Osi Lilian, a member of IMC’s three-man management board, resigned from his position last week, following an investigation into his tax affairs by Dutch regulator, the Netherlands Authority for the Financial Markets.
The regulator, known as the AFM, began investigations into Lilian last November, after he had received a €6,705 fine from the Dutch tax authorities for failing to disclose a private savings account. He had opened the account while living abroad and closed it in 2007.
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