Elie claims that Ifrah failed to disclose to government lawyers that he was receiving commissionpayments for assisting Elie in getting poker payment processing accounts with Full Tilt Poker and PokerStars.
The authorities also want to halt the possible mis-selling of financial policies, where the adviser is more interested in the prospect of earning commissionpayments than the financial well-being of the customers.
Standard Life said it was also ready for another change in regulations which come in to force next year and which ban commissionpayments to financial advisers who sell life insurance and savings products.