Lord Turner to unveil banking crackdown – Daily Telegraph

Posted March 16th, 2009 in financial regulation, news by sally

“Lord Turner, chairman of the Financial Services Authority, will unveil proposals to tighten up financial regulations surrounding banks, hedge funds and tax havens when he publishes his blueprint for international regulation on Wednesday.”

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Daily Telegraph, 15th March 2009

Source: www.telegraph.co.uk

FSA faces multimillion claim for failing to stop Terry Freeman trading – The Times

Posted March 5th, 2009 in company law, financial regulation, negligence, news by sally

“The Financial Services Authority is facing a multimillion-pound compensation claim from a group of investors who say that the City watchdog failed to stop the activities of a suspected rogue trader.”

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The Times, 5th March 2009

Source: www.timesonline.co.uk

FSA revises rule change on with-profits compensation – OUT-LAW.com

Posted February 27th, 2009 in financial regulation, news by sally

“New rules preventing life companies from using surpluses held in with-profits funds to meet compensation costs will only apply to policies sold after the rules come into force, the Financial Services Authority (FSA) announced this week.”

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OUT-LAW.com, 26th February 2009

Source: www.out-law.com

Lawyers back call for single City fraud watchdog – The Times

Posted February 24th, 2009 in financial regulation, fraud, news by sally

“Senior lawyers have backed a call by Sir Ken Macdonald, the former Director of Public Prosecutions, who wrote in The Times yesterday calling for a single regulator to fight City fraudsters in order to restore confidence in banks and the financial sector.”

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The Times, 24th February 2009

Source: www.timesonline.co.uk

New study calls for overhaul of legal regulation – Legal Week

Posted February 23rd, 2009 in financial regulation, fraud, news by sally

“The regulation of corporate law in England and Wales needs an overhaul in order to restore public confidence in the sector, according to a College of Law study published today.”

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Legal Week, 23rd February 2009

Source: www.legalweek.com

Law firm Fox Hayes fined almost £1m for role in share scams – The Times

Posted February 17th, 2009 in financial regulation, fraud, law firms, news by sally

“A defunct British law firm has been fined nearly £1 million for ‘recklessly’ assisting Spanish boiler rooms to defraud British investors out of millions of pounds.”

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The Times, 17th February 2009

Source: www.timesonline.co.uk

Companies still not owning up to corruption – The Times

Posted February 4th, 2009 in corruption, financial regulation, news by sally

“Two out of five senior executives would attempt to bury a corruption problem rather than report it to authorities, a survey has found.”

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The Times, 4th February 2009

Source: www.timesonline.co.uk

Two Pacific Continental Securities executives banned by FSA – The Times

Posted January 29th, 2009 in financial regulation, news by sally

“Two executives of Pacific Continental Securities, a notorious stockbroking firm that fleeced more than 8,000 savers, were banned from the City yesterday. Steven Griggs, the former chief executive, and Charles Weston, the former finance director, were also heavily fined by the Financial Services Authority.”

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The Times, 29th January 2009

Source: www.timesonline.co.uk

City watchdog: banking system needs profound change – The Times

Posted January 22nd, 2009 in banking, financial regulation, news by sally

“The banking system must undergo ‘profound’ changes if a repeat of the current collapse is to be avoided in future, the head of the City watchdog has warned.”

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The Times, 22nd January 2009

Source: www.times.co.uk

JJB Sports boss Chris Ronnie suspended amid shares inquiry – The Times

Posted January 21st, 2009 in company directors, financial regulation, news by sally

“JJB Sports suspended its chief executive yesterday as the investigation into his lost stake continues. Chris Ronnie admitted last week that the 27.5 per cent stake he controlled in the retailer had reverted to the liquidators of Kaupthing Singer & Friedlander (KSF), his financial backer. Mr Ronnie said he did not know when the shares were disposed of, or at what price.”

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The Times, 21st January 2009

Source: www.timesonline.co.uk

Government proposes witness immunity power for FSA – The Times

Posted January 16th, 2009 in financial regulation, immunity, news, witnesses by sally

“The Financial Services Authority (FSA) will be given formal powers to grant immunity to witnesses in criminal investigations under new Government proposals.”

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The Times, 15th January 2009

Source: www.timesonline.co.uk

City watchdog to be ‘intrusive’ in overseeing banks – Daily Telegraph

Posted December 1st, 2008 in banking, financial regulation, news by sally

“Hector Sants, the chief executive of the Financial Services Authority (FSA), said that banks must face tighter regulation and admitted the watchdog should have been more active before the financial crisis.”

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Daily Telegraph, 1st December 2008

Source: www.telegraph.co.uk

Broker escapes jail over forged FSA applications – The Times

Posted November 18th, 2008 in financial advice, financial regulation, forgery, news, prosecutions by sally

“The first person to be prosecuted by the Financial Services Authority (FSA) over falsifying an application for authorisation to sell financial products has been given a suspended sentence.”

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The Times, 18th November 2008

Source: www.timesonline.co.uk

Lord Falconer: ‘regulators will drive litigation’ – The Times

Posted November 7th, 2008 in financial regulation, news by sally

“A surge in litigation is likely to be driven by regulators as they seek to find blame for the financial crisis, a group of leading lawyers said last night.”

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The Times, 7th November 2008

Source: www.timesonline.co.uk

FSA defends rules on life companies’ use of with-profits surpluses – OUT-LAW.com

Posted November 6th, 2008 in financial regulation, insurance, news, with-profits policies by sally

“The FSA has resisted calls for a full-scale debate on the regulation of with-profits funds, but it has promised a major review of how effectively life companies are implementing its current rules.”

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OUT-LAW.com, 5th November 2008

Source: www.out-law.com

Watchdog muscles in on high street accounts – The Guardian

Posted November 5th, 2008 in banking, financial regulation, news by sally

“Bank customers could be given the protection of the main City watchdog in a move that would sweep away decades of voluntary regulation covering savings and current accounts. The Financial Services Authority said yesterday it was considering major reforms to the banking code and statutory rules for the industry.”

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The Guardian, 5th November 2008

Source: www.guardian.co.uk

Simon Morris: ‘the FSA is a very effective regulator’ – The Times

Posted November 3rd, 2008 in financial regulation, news by sally

“The last thing London needs now is its own version of Sarbanes-Oxley, says the CMS Cameron McKenna partner.”

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The Times, 3rd November 2008

Source: www.timesonline.co.uk

FSA fines manager in anti-money laundering failure – The Times

Posted October 30th, 2008 in financial regulation, money laundering, news by sally

“The Financial Services Authority (FSA) has fined a senior manager of Sindicatum Holdings, the financial advisory and asset management firm, nearly £20,000 for failing to have adequate anti-money laundering controls in place.”

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The Times, 29th October 2008

Source: www.timesonline.co.uk

We’ll get tough with City, says watchdog – The Guardian

Posted October 17th, 2008 in financial regulation, news by sally

“The days of soft-touch regulation of the City are over, the head of the financial watchdog said yesterday, as he revealed that a new cadre of higher-paid regulators would ask tougher questions about the health of financial institutions in the wake of the credit crisis.”

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The Guardian, 17th October 2008

Source: www.guardian.co.uk

Short-selling new rules are under review – The Times

Posted September 24th, 2008 in financial regulation, news by sally

“Gordon Brown has said there will be new rules governing the practice of short-selling in four months’ time, when the temporary ban imposed last week by the Financial Services Authority (FSA) on short-selling financial stocks expires.”

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The Times, 24th September 2008

Source: www.timesonline.co.uk