OFT vows to pursue bank charges – BBC News
“The Office of Fair Trading (OFT) will still pursue bank overdraft charges as unfair, even if it loses the current legal appeal in the House of Lords.”
BBC News, 25th June 2009
Source: www.bbc.co.uk
Category: financial regulation
City watchdog’s tough stance earns record £27.3m in fines – The Guardian
“The number of fines and bans handed out by the Financial Services Authority is on course for a record this year as the City watchdog steps up its ‘get tough’ approach to regulation.”
The Guardian, 8th June 2009
Source: www.guardian.co.uk
FSA steps up battle against insider trading – The Times
“The Financial Services Authority (FSA) is to increase the firepower of its enforcement division by hiring several lawyers from leading City firms, The Times has learnt.”
The Times, 1st June 2009
Source: www.timesonline.co.uk
Financial Services Authority shuts record number of rogue advisers – The Times
“The City watchdog has banned a record number of firms that sell mortgages, pensions, investments and insurance.”
The Times, 14th April 2009
Source: www.timesonline.co.uk
FSA wins case to bar General Re chief – The Times
“Financial Services Authority says it has turned down appeal by former insurance chief over ban on working in the City.”
The Times, 6th April 2009
Source: www.timesonline.co.uk
FSA secures first jail term for insider dealing – The Times
“A solicitor who tipped off his father-in-law and profited from a takeover deal was jailed for eight months today in the Financial Services Authority’s (FSA) first criminal prosecution for insider dealing. ”
The Times, 30th March 2009
Source: www.timesonline.co.uk
Lawyers welcome plans for financial shake-up – The Times
“Proposals aimed at shaking up Britain’s banking sector received a cautious welcome from the City’s leading financial services lawyers today.”
The Times, 18th March 2009
Source: www.timesonline.co.uk
New boardroom code to ‘draw on lessons’ from bank crisis – The Times
“A leading City regulator will pave the way today for the biggest overhaul of best boardroom practice in six years when it launches a full-scale review of the Combined Code, the corporate governance template for investors and listed companies.”
The Times, 18th March 2009
Source: www.timesonline.co.uk
Lord Turner to unveil banking crackdown – Daily Telegraph
“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.”
Daily Telegraph, 15th March 2009
Source: www.telegraph.co.uk
FSA faces multimillion claim for failing to stop Terry Freeman trading – The Times
“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.”
The Times, 5th March 2009
Source: www.timesonline.co.uk
FSA revises rule change on with-profits compensation – OUT-LAW.com
“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.”
OUT-LAW.com, 26th February 2009
Source: www.out-law.com
Lawyers back call for single City fraud watchdog – The Times
“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.”
The Times, 24th February 2009
Source: www.timesonline.co.uk
New study calls for overhaul of legal regulation – Legal Week
“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.”
Legal Week, 23rd February 2009
Source: www.legalweek.com
Law firm Fox Hayes fined almost £1m for role in share scams – The Times
“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.”
The Times, 17th February 2009
Source: www.timesonline.co.uk
Companies still not owning up to corruption – The Times
“Two out of five senior executives would attempt to bury a corruption problem rather than report it to authorities, a survey has found.”
The Times, 4th February 2009
Source: www.timesonline.co.uk
Two Pacific Continental Securities executives banned by FSA – The Times
“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.”
The Times, 29th January 2009
Source: www.timesonline.co.uk
City watchdog: banking system needs profound change – The Times
“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.”
The Times, 22nd January 2009
Source: www.times.co.uk
JJB Sports boss Chris Ronnie suspended amid shares inquiry – The Times
“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.”
The Times, 21st January 2009
Source: www.timesonline.co.uk
Government proposes witness immunity power for FSA – The Times
“The Financial Services Authority (FSA) will be given formal powers to grant immunity to witnesses in criminal investigations under new Government proposals.”
The Times, 15th January 2009
Source: www.timesonline.co.uk
City watchdog to be ‘intrusive’ in overseeing banks – Daily Telegraph
“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.”
Daily Telegraph, 1st December 2008
Source: www.telegraph.co.uk
