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Coutts fined £8.75 million for anti-money laundering control failings
26/03/2012
The Financial Services Authority (FSA) has fined Coutts & Company (Coutts) £8.75 million for failing to take reasonable care to establish and maintain effective anti-money laundering (AML) systems and controls relating to high risk customers, including Politically Exposed Persons (PEPs).
Bankers call for transparency and simplicity from Financial Policy Committee
23/03/2012
The Bank of England’s new Financial Policy Committee has a key responsibility to explain clearly how it will carry out its responsibility to ensure the UK’s financial stability, the British Bankers’ Association said today.
FSA publishes final guidance on structured products
23/03/2012
The Financial Services Authority (FSA) has today (Friday) published its final guidance on the development and governance of retail structured products.
British banks told to increase capital
23/03/2012
The Financial Policy Committee (FPC) have said that British banks need to increase capital as soon as possible.
FSA publishes Business Plan for 2012/13
22/03/2012
The Financial Services Authority (FSA) has published its business plan setting out its priorities for 2012/13, and the implications for the FSA’s budget.
Rangold Resources shares plummet as Malian troops mount coup
22/03/2012
FTSE 100 miner, Randgold Resources, who recently discovered a 5.5 million ounce Gold deposit in Mali have seen share prices (LSE: RRS) drop 15% on news of a partial coup mounted by mutinous soldiers.
FSA secures £32 million High Court judgment against three land banks
21/03/2012
The Financial Services Authority (FSA) has won an important victory in the battle against unauthorised businesses after the High Court declared that James Kenneth Maynard, Countrywide Land Holdings Limited (Countrywide) and Plateau Development & Land Limited (Plateau) operated a collective investment scheme without authorisation and sold plots of land unlawfully to UK consumers. Regional Land and Countrywide were trading names used by Maynard.
GAME ceases trading as equity value hits rock bottom
21/03/2012
The fortunes of high street video games retailer, GAME, have taken a turn for the worse, with the group’s board this morning announcing they are ceasing trading of securities on the London Stock Exchange under LSE: GMG.L.
Doubts over future profitability at UK banks, says KPMG report
19/03/2012
KPMG’s UK Banks: Performance Benchmarking Report highlights how profitability at the UK’s largest banks has suffered at the hands of the Eurozone crisis and the significant costs associated with PPI, the bank levy and regulatory requirements.
WorldSpreads Limited enters Special Administration Regime
19/03/2012
The Financial Services Authority (FSA) confirms that WorldSpreads Limited (WorldSpreads), a spreadbetting company, has entered the Special Administration Regime (SAR) on 18 March 2012.
