Mondo Visione (Free subscription) | 06/11/2009
The Financial Services Authority (FSA) yesterday took action against two individuals and seven businesses suspected of involvement in ‘boiler room’ share fraud activity.
Mondo Visione (Free subscription) | 06/11/2009
The Financial Services Authority (FSA) has today set out its new prudential regime for personal investment firms (PIFs) to ensure that they are better capitalised to withstand any future financial shocks.
The Independent (Free subscription) | 8 hours ago
A Financial Services Authority investigation into whether HBOS's former board may have misled investors at the time of the bank's abortive £4bn rights issue last year could "open the floodgates" to hundreds of civil court actions against Lloyds Banking Group, which acquired HBOS in January, according to senior legal sources.
AMERICAblog (Free subscription) | yesterday
Obama really needs to find better people to golf with besides CEOs from companies like this. What is also interesting to note here is that yet again, here is a big player who has been caught yet we're not seeing a perp walk. No, apparently that's only for smaller players who aren't white, nor part of the traditional who's who of the finance industry. The losses involved here are considerably higher...
France 24 (Free subscription) | 06/11/2009
Swiss bank UBS, fined by British authorities for allowing unauthorised transactions to be carried out on customer accounts, said Friday it had "taken full remedial steps" to address the problem. "UBS deeply regrets this incident and, having fully co-operated with the FSA?s (Financial Services Authority) investigation, we are now pleased that this matter has been settled so that we can...
The Telegraph (Free subscription) | 06/11/2009
One person has been arrested and £350000 has been frozen as part of an investigation by the Financial Services Authority FSA into alleged "boiler room" fraud.
The Guardian (Free subscription) | 06/11/2009
Business secretary warns against European Union's proposed regulation on hedge funds and private equity firms The business secretary, Lord Mandelson, warned in Brussels today that the European Union's proposed regulation on hedge funds and private equity firms may threaten future investment. "We must be vigilant against burdening industry with excessive costs, and resist any moves that place...
Zandar Versus The Stupid (Free subscription) | 06/11/2009
...But world banking giants like Switzerland's UBS that screwed people over . Four former dealers at UBS plundered customer accounts to trade and dumped the resulting losses on them, Britain's financial regulator said, further denting the battered Swiss bank's reputation. The scandal has cost UBS more than $55 million as the Financial Services Authority slapped on an 8 million pound ($13.2 million)...
Market Wire (Free subscription) | 06/11/2009
TORONTO, ONTARIO (MARKET WIRE) Centamin Egypt Limited ("Centamin" or "the Company") (TSX: CEE)(ASX: CNT)(AIM: CEY) announces that its entire issued ordinary share capital will today be admitted to the Official List of the Financial Services Authority and to London Stock Exchange plc's main market for listed securities ("Admission"). Cancellation of trading in the ordinary...
Banking Times: Daily Banking News (Free subscription) | 06/11/2009
The Financial Services Authority (FSA) has fined UBS £8 million for systems and controls failures that were initially exposed by a whistleblower. Failures by the Swiss-headquartered investment bank enabled four employees to carry out unauthorised trades involving customer money on at least 39 accounts. Activities involved trading foreign exchange and precious metals using customer money and allocating...
ArabianBusiness.com (Free subscription) | 06/11/2009
Transparency is 'not in the genes here' - Dubai Financial Services Authority chief exec.
UK Market Reports (Free subscription) | 06/11/2009
Morning all. Market reports: Telegraph The Times The Times (Need to know) FT The Guardian The Independent This is Money We are reaching the endgame for quantitative easing, experts declared as the world’s major central banks indicated that they may soon bring the radical monetary policy experiment to an end. Bank of England signals the end is nigh for quantitative easing Fears over the fragility...
Times Online (Free subscription) | 05/11/2009
The Financial Services Authority (FSA) has fined UBS £8 million for weak controls that allowed staff in its private bank to make thousands of unauthorised trades with clients’ money and then hide the losses. It is the third-largest fine awarded by the FSA.
The Guardian (Free subscription) | 05/11/2009
Armann Thorvaldsson, once UK head of Kaupthing Bank, has chronicled all the excesses – and the crash Unlike many prominent executives associated with the most acute failures in the global banking firmament, Armann Thorvaldsson, former UK head of the bust Icelandic bank Kaupthing, is bursting to tell his story. He is not without regrets, or even hints of contrition, but is very far from being...
The Telegraph (Free subscription) | 05/11/2009
UBS has been hit by an £8m fine from the Financial Services Authority FSA - the thirdlargest fine in the watchdog's history - after an investigation revealed four employees of the Swissbased bank had gambled tens of millions of pounds of customers money without permission.
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