Recent warnings from American AI leaders have created the impression that the world is only beginning to confront the dangers of advanced artificial intelligence. Dario Amodei, chief executive of tech company Anthropic, has called for governments to intervene to slow the development of increasingly powerful AI models. His proposal begins with independent evaluators embedded inside […]

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Donald Trump and Xi Jinping wrapped up their Washington summit on September 25 with a two-month extension of the trade truce and warm words about friendship. On artificial intelligence, the leaders mostly ratified what their deputies had sketched in New York days earlier: a formal US-China dialogue on AI, plus an American proposal for a […]

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Beijing has agreed to work with Washington to improve governance of artificial intelligence (AI) technologies and to enhance cooperation as Chinese President Xi Jinping and United States President Donald Trump met face-to-face at the White House on Thursday. Xi made the pledge in his speech at a morning welcoming ceremony, before the two leaders held […]

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Public records show that businesses associated with Tavira have undergone changes to their custody operations following regulatory intervention in Dubai and Monaco. Separately, Tavira Monaco is a defendant in English civil proceedings concerning shares provided as collateral for a stock-backed loan.

The civil allegations remain disputed, and the public judgments reviewed for this article do not establish that Tavira knowingly participated in fraud. Neither Tavira nor its founder, Eliot Goodfellow, is charged in the related United States criminal case.

An international financial group

Tavira was founded in London in 2005 as Tavira Securities. It has since expanded into areas including agency brokerage, asset management, corporate broking and custody.

The group has operated through regulated businesses in several jurisdictions, including the United Kingdom, Monaco, Dubai, Australia and the United States.

Goodfellow remains Tavira Financial Limited’s controlling shareholder. Companies House records state that he owns at least 75 per cent of its shares and voting rights and has the right to appoint or remove directors.

Tavira Financial’s accounts for the year ending 31 March 2025 reported increased revenue alongside a wider annual loss. The accounts also referred to the closure of its contracts-for-difference business and restructuring of its custody activities as the group concentrated on agency brokerage, asset management and corporate broking.

The Salinas civil proceedings

Tavira Monaco is one of six defendants in English civil proceedings brought by Mexican businessman Ricardo Salinas Pliego and Corporacion RBS.

According to the claimants’ case, as summarised in a 2024 High Court judgment, Salinas transferred Grupo Elektra shares worth more than $400 million to two custodians, Weiser Global Capital Markets and Tavira Monaco. The shares were provided as security for loans under a stock-loan agreement concluded in July 2021.

The claimants allege that they entered the transaction after being led to believe that the lender was associated with the prominent American Astor family and that the shares would not be sold unless an event of default occurred.

They further allege that Vladimir Sklarov, who used the name “Gregory Mitchell” in connection with the transaction, caused the shares to be transferred and sold without their authority and used part of the proceeds to fund the loans themselves.

Financial Mail reported in June 2025, citing trading logs reviewed by Salinas’s team, that some of the disputed shares were sold through transactions involving Morgan Stanley, BBVA and Merrill Lynch. The report did not allege that those banks knew of or participated in the alleged fraud. Their appearance in a transaction chain does not, by itself, establish misconduct or knowledge of any underlying dispute.

These remain allegations in continuing civil litigation. In the interlocutory proceedings, the Sklarov defendants maintained that the transaction documents entitled them to trade the collateral and that Salinas’s advisers had been told this. The public decisions reviewed for this article do not amount to a final determination of Tavira Monaco’s liability.

The High Court granted freezing and proprietary injunctions in August 2024. An application by the Sklarov defendants to discharge those injunctions was rejected in October 2024. Later appellate proceedings concerned procedural and evidential issues rather than a final trial of the underlying claims. Tavira Monaco was not involved in the most recent appeal.

Separate US criminal case

A US federal indictment filed on 30 April 2026 and unsealed in May charges Sklarov with conspiracy to commit wire fraud, wire fraud and conspiracy to commit money laundering.

The US Attorney’s Office for the Southern District of New York alleges that Sklarov operated an entity presented as an established stock-backed lender associated with the Astor family. Prosecutors allege that he used aliases and false representations to obtain control of shares worth approximately $450 million.

Sklarov has not been convicted in that case. The charges are allegations, and he is presumed innocent unless and until proven guilty.

The publicly available indictment charges Sklarov, not Tavira Financial, Tavira Monaco, Goodfellow, Morgan Stanley, BBVA or Merrill Lynch. The existence of the criminal case should therefore not be taken as establishing criminal conduct by any of those companies or individuals.

Restrictions in Dubai

On 10 September 2024, the Dubai Financial Services Authority imposed restrictions on Tavira Financial Limited’s Dubai branch.

According to the DFSA public register, the firm was restricted from soliciting or conducting specified regulated financial-services business with new clients. It was also restricted from soliciting or onboarding new clients in connection with financial promotions.

The public register does not state the reason for the restrictions and does not connect them to the Salinas litigation.

Tavira’s accounts subsequently referred to a decision to close the Dubai branch’s custody operation and to restructure custody activities across the group. The DFSA register nevertheless continues to list Tavira Financial as an authorised firm, subject to the published restrictions.

Companies House records show that Goodfellow ceased to be a Tavira Financial director on 13 September 2024, three days after the restrictions were imposed. Neither the DFSA entry nor the Companies House filing gives a reason for his departure or establishes that it was connected to the restrictions or the Salinas proceedings.

Monaco sanction suspended pending challenge

Tavira Monaco has also been the subject of regulatory action.

On 12 February 2026, Monaco’s Commission de Contrôle des Activités Financières ordered the withdrawal of Tavira Monaco’s authorisation after upholding four regulatory breaches.

The published CCAF decision found that the company had failed to submit required accounts, activity reports and auditors’ reports within statutory deadlines. It also found that the company had not continuously maintained two people responsible for its strategic direction and management, had lacked a bank account in its own name with a Monaco credit institution since July 2023, and had lacked sufficient human and technical resources since 2023.

Tavira Monaco challenged the decision. On 21 May 2026, the President of Monaco’s Supreme Court suspended its execution. According to the CCAF’s current case notice, Tavira Monaco’s application to annul the decision remains pending.

The withdrawal decision should therefore not be described as presently effective without also reporting the suspension and continuing challenge.

Questions about custody controls

The Dubai restrictions, restructuring of custody operations and Monaco proceedings raise legitimate questions about governance and operational controls. They do not, by themselves, prove any connection to the alleged misconduct in the Salinas transaction.

The English civil case raises separate, disputed questions about the instructions received by Tavira Monaco, the authority it understood the relevant parties to possess, the movement of the collateral and the custody records maintained during the transaction. Those matters remain for determination in the civil proceedings.

Right of reply

EU Reporter sent Tavira Financial, Tavira Monaco and Eliot Goodfellow a detailed summary of the matters in this article and asked for their responses concerning the civil allegations, regulatory decisions, custody restructuring and Goodfellow’s departure from the board. EU Reporter has received no replies from Tavira Financial, Tavira Monaco and Eliot Goodfellow

EU Reporter also asked Morgan Stanley, BBVA and Bank of America, the parent company of Merrill Lynch, whether they could confirm the reported transactions and whether they wished to comment.  Morgan Stanley replied, saying “no comment”. The others,  BBVA and Bank of America, the parent company of Merrill Lynch, have not replied at all.

The Belgian federal government has nominated Hans Kluge (pictured) for the position of Director-General of the World Health Organization (WHO).

“I am very honoured by the trust Belgium has placed in me and am grateful for the opportunity to take on this important responsibility,” Kluge said on X. “Serving the WHO has been the greatest privilege of my professional life.”

Kluge has served as WHO Regional Director for Europe since 2020 and began a second term in February 2025. Under WHO rules, he will step aside as WHO/Europe Director while campaigning for the role, a process that involves lobbying member states, NGOs and the organisation's largest funders.

Tried and tested
After qualifying as a doctor in Belgium, he began his international career with Médecins Sans Frontières in conflict settings in Liberia and Somalia. He subsequently coordinated tuberculosis programmes in Siberian prisons and across the former Soviet Union.

Kluge joined WHO in 1999, initially working on tuberculosis and HIV in...

The restoration of a matriarch

July 7th saw one period of uncertainty in French politics end and another begin. Despite an appeals court upholding Marine Le Pen’s fraud conviction, the leader of the far-right National Rally (Rassemblement National, RN) will run for president next year. The election result remains wide open, but she is polling strongly and the possibility of a Le Pen-ist France is once again plausible. Should she win, the rest of Europe would have to contend with a highly abrasive and confrontational leadership in Paris, determined to unwind significant parts of the country’s integration with the rest of the EU.

Bracing for impact

European policymakers must prepare for that turbulent eventuality. In particular, they should:

• Avoid clinging to precedents when thinking about an RN-led France. A President Le Pen would be neither “a Viktor Orban” nor “a Giorgia Meloni”, but a distinct phenomenon rooted in French political traditions and circumstances.
• Seek to understand the party and its instincts. Le Pen is a familiar figure, but her party has never held national power before and has evolved over time. Knowing how it ticks will be essential.
• Manage expectations about the pliability of a Le Pen presidency. Unlike Bardella, she primarily thinks not in terms of alliances with the broader political right (at home or in Europe) but of the RN as a monolithic national movement, beyond left and right, dedicated to French autonomy. Working with others will come less easily to her.
• Prepare to deploy the arts of European and international politics. As France is one of the keystone states of the EU, its turn away from the project could be highly disruptive. Handling a Le Pen presidency will demand a clear sense of where cooperation could be possible (elements of European defence, perhaps) and where events might necessitate coalitions-of-the-willing circumventing Paris.

Courting public opinion

France’s appeals court on July 7^th confirmed Le Pen’s conviction for embezzling European public funds. It reduced her “ineligibility” sentence, opening the possibility of her running as a candidate in the presidential election, but required her to serve a year of house arrest wearing an electronic tag. Le Pen has always said she would not run in those circumstances, but has announced that she will appeal to the Court of Cassation, France’s highest court, suspending the penalty until it delivers its verdict at some point in the new year. Until then, she is tag-free and able to take back the reins from her young protégé, Jordan Bardella. The possibility that his more cautious approach might temper the party’s populist radicalism now seems remote.

Now entering her fourth presidential campaign, Le Pen is an experienced candidate well-known to the French electorate. Having taken over the party (then called the National Front) from her father in 2011, she has sought to detoxify its image. Le Pen presents herself as both an empathetic leader and an unapologetic nationalist who champions “national priority” for French citizens over foreigners. She is polling far ahead of challengers in the first round and appears highly competitive in the second. Current polls put her slightly ahead of her strongest (centrist) challengers in the second round of voting, though French presidential elections can see significant volatility.

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