“The names of three junior members of staff who had handled complaints made to the financial services regulator should have been disclosed as part of a freedom of information request as disclosure ‘did not adversely affect their privacy’, a tribunal has ruled.”
OUT-LAW.com, 18th April 2012
Source: www.out-law.com
“The City watchdog has warned that many banks are failing to provide proper controls to prevent bribery and corruption despite the high profile introduction of the Bribery Act last year.”
The Guardian, 29th March 2012
Source: www.guardian.co.uk
“A senior salesman at Credit Suisse has been fined £210,000 by the Financial Services Authority for playing a guessing game with clients to enable them to identify private information about a forthcoming bond issue.”
The Guardian, 13th March 2012
Source: www.guardian.co.uk
“A group of institutional and private shareholders has launched a multi-billion pound legal claim against the Royal Bank of Scotland (RBS), its former chief executive Fred Goodwin and 18 directors and non-executive directors.”
Daily Telegraph, 12th March 2012
Source: www.telegraph.co.uk
“The corporate arm of the Bank of Scotland was guilty of ‘very serious misconduct’ in the way it loaned money to businesses which contributed to its need to be bailed out by the Government, the financial services regulator has confirmed.”
OUT-LAW.com, 12th March 2012
Source: www.out-law.com
“Payday lenders should be forced to limit the rolling over of loans, stop allowing customers to switch from one lender to another, and to share information about their customers with other lenders, the business, innovation and skills committee has recommended.”
The Guardian, 7th March 2012
Source: www.guardian.co.uk
“The ‘client money pool’ to be distributed among former clients of Lehman Brothers’ London affiliate was not limited to money which had been placed in segregated client accounts, as required by the Financial Services Authority, but extended to identifiable client money which the company had failed to segregate and had retained in its own house accounts. The pool was to be distributed rateably among all clients who had a contractual entitlement to have money segregated and not just those in whose favour segregation had actually occurred.”
WLR Daily, 29th February 2012
Source: www.iclr.co.uk
“Insurers and banks can legitimately trade liquid and illiquid assets providing it is done on a ‘sensible scale,’ the City watchdog has said.”
OUT-LAW.com, 2nd March 2012
Source: www.out-law.com
“Major banks could become embroiled in another mis-selling scandal after shares in CPP, the embattled credit card insurer, were suspended on the London Stock Exchange after a Financial Services Authority investigation.”
The Guardian, 20th February 2012
Source: www.guardian.co.uk
“Santander has been fined £1.5m by the City regulator for failing to inform customers that stock market-linked bonds they were buying were not covered by the Financial Services Compensation Scheme (FSCS) if the bank went bust.”
The Guardian, 20th February 2012
Source: www.guardian.co.uk
Businesses are using consumer contracts that give them too much leeway to unfairly change the terms of those contracts, the Financial Services Authority (FSA) has said.
OUT-LAW.com, 1st February 2012
Source: www.out-law.com
“One of the most senior figures in the banking industry, Ravi Sinha, who once fronted a bid for Northern Rock, has been banned from working in the City and fined £2.9m by the Financial Services Authority after dishonestly obtaining millions of pounds to cover his debts.”
The Guardian, 31st January 2012
Source: www.guardian.co.uk
“Insurance firms Direct Line and Churchill – both owned by RBS – have been fined £2.17m for tampering with customer complaint files before submitting them to the Financial Services Authority (FSA).”
BBC News, 18th January 2012
Source: www.bbc.co.uk
“An insurer has been fined £2.8m by the City watchdog for a ‘high-risk’ system of pay for its sales agents, among other faults.”
BBC News, 19th December 2011
Source: www.bbc.co.uk
“New rules to stop a resurgence in risky mortgage lending are likely to be imposed in 2013 by the Financial Services Authority (FSA).”
BBC News, 19th December 2011
Source: www.bbc.co.uk
“The UK’s financial regulator will be highly critical of its own role in its report into the circumstances surrounding the collapse of the Royal Bank of Scotland, the BBC has learned.”
BBC News, 11th December 2011
Source: www.bbc.co.uk
“Companies that provide expensive, short-term loans to desperate borrowers face tougher regulation by the government.”
The Guardian, 7th December 2011
Source: www.guardian.co.uk
“Investment banks and financial traders in the UK must now record the mobile phone conversations of their staff following the closure of a regulatory loophole.”
OUT-LAW.com, 17th November 2011
Source: www.out-law.com
“The Government will introduce proposals next year to regulate the banking-industry body that runs the UK’s payments system, it has said.”
OUT-LAW.com, 14th November 2011
Source: www.out-law.com
“The Financial Services Authority has been urged to review its operating procedures after it was found to have acted unlawfully in its use of legally privileged material during an enforcement investigation.”
Law Society’s Gazette, 20th October 2011
Source: www.lawgazette.co.uk
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