Iceland Banks - internal investigation

Dear Mr Silverman

I am writing in response to your Freedom of Information Request below.
Please accept my apologies for the slight delay in our response which
was due to an unexpected absence from the office.

As I understand it you are seeking to know:

Could you please let me have a copy of the “internal investigation"
report or, if it was recorded in any other way, the relevant document(s)

Please see attached

In respect to each significant investment (over £100,000) in an
Icelandic bank by LBH in the last 4 years:
1. Could you please let me have a copy of any document recording the
decision to so invest.
2. Could you please let me know who made the decision in each case.
There were 94 separate transactions in the time frame indicated, which
I hope you can appreciate is a lot of documents. It is important to
note that The Freedom of Information Act 2000 creates a right of access
to information not documentation. In this instance we can confirm that
we hold the information and we confirm that all transactions are
authorised by two officers, from a complement of officers authorised
under the council's scheme of delegations. Under the Council's
Constitution Scheme of Delegations all investment decisions are
delegated to the Director of Finance with relevant officers authorised
for day to day operations.

If you are not satisfied with our response you should put your
complaint in writing, within 2 months, to:

Principal Corporate Lawyer, Legal Services, Civic Centre, High St,
Uxbridge, UB8 1UW (or via email to [Hillingdon Borough Council request email] marked for the
attention of the Principal Corporate Lawyer).

Please remember to quote the reference number above in any future
communications.

If you are not content with the outcome of the internal review, you
have the right to apply to the Information Commissioner for a decision.
The Information Commissioner can be contacted at: Information
Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire,
SK9 5AF

If you wish to discuss this matter please do not hesitate to contact us
on the details below.

Richard Ingle
Data Protection &
Freedom of Information Officer

Legal Services (3E 04)
London Borough of Hillingdon
Civic Centre
High Street
Uxbridge
UB8 1UW
01895 55(6923)

Please note, all material provided by the London Borough of Hillingdon
in response to your request for information is for your personal,
non-commercial use. The London Borough of Hillingdon reserves all
rights in the copyright of the information provided. Any unauthorised
copying or adaptation of the information without express written
confirmation from The London Borough of Hillingdon will constitute an
infringement of copyright. Any intention to re-use this information
commercially will require consent. Please forward any requests for
re-use of information to the Freedom of Information officer.

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13/04/10 11:16 >>>
Dear Hillingdon Borough Council,

From: Hillingdon-Watch
Sent: 13 April 2010 11:11
To: 'Christopher Neale'
Subject: Iceland Banks - internal investigation

Attn Christopher Neale
LB Hillingdon –Director of Finance & Resources

Under point 3 of “REPORT ON THE COUNCIL’S INVESTIMENTS IN
ICELANDIC
BANKS” presented to the Audit Committee meeting of 18 February
2009
it says “An internal investigation was conducted as soon as
this
situation arose which confirmed that all procedures and decisions
were taken in line with agreed policy”

Could you please let me have a copy of the “internal
investigation”
report or, if it was recorded in any other way, the relevant
document(s)

In respect to each significant investment (over £100,000) in an
Icelandic bank by LBH in the last 4 years:

1. Could you please let me have a copy of any document recording
the decision to so invest.

2. Could you please let me know who made the decision in each
case.

Please note this request is being posted on the
www.whatdotheyknow.com

I look forward to hearing from you.

Peter Silverman
www.hillingdon-watch.org.uk

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