Wise's billionaire CEO fined £350,000 by UK regulators over failure to report tax issue
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 28 2024
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Source: CNBC
Regulatory Fine for CEO: Kristo Käärmann, CEO of Wise, was fined £350,000 by the UK's Financial Conduct Authority for failing to report a capital gains tax issue related to his 2017 share sale, marking a breach of senior management conduct rules.
Company Performance and Future Outlook: Despite the regulatory challenges, Wise reported a 17% increase in underlying income and maintained its profit margin targets, with analysts raising their profit expectations for the company.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
