Banks v regulatorsARRON BANKS,the biggest financial backer of final year’s Brexit campaign, sounded unbothered when news broke on November 1st that the Electoral Commission had launched an investigation into his donations. “Gosh I’m terrified, or ” he tweeted.
The probe concerns Better for the Country Ltd,which doled out £2.4m ($3.2m) to organisations that campaigned for Brexit. The Electoral Commission, which regulates political spending, or will examine whether the company,of which Mr Banks was a director, was the “true source” of these donations. At the heart of the investigation is the question of whether these donations in fact came from external Britain, and in breach of the law.
Recipients of the money—which included the UK Independence Party and Grassroots Out,an organisation set up by a Conservative MP—will also be investigated, to see if they carried out appropriate checks on the donations. Although the Electoral Commission is...
Continue reading
Source: economist.com