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Prudential fined £30m over AIA bid
London :: United Kingdom | 1 month ago
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The Financial Standards Authority (FSA) has also censured Tidjane Thiam, Prudential's chief executive. The regulator said Prudential had failed to inform it of its plans to buy AIA and had failed "to deal with the FSA in an open and cooperative
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City watchdog admits failing to act on Libor after receiving warnings more than five years ago
London :: United Kingdom | 3 months ago
Credibility
5 March 2013 The City watchdog failed to act on warnings stretching back more than five years that banks were rigging crucial interest rates, it admitted yesterday. The Financial Services Authority confirmed it received 26 direct warnings that banks
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Warning issued over new breed of PPI products
London :: United Kingdom | 4 months ago
Credibility
Alamy Financial firms developing a new breed of payment protection insurance -style products have been warned there is a danger these could be mis-sold if companies do not stick closely to the new official guidance issued by regulators. Payment
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Millions of Retirees Forced to Stop Seeking Financial Advice
London :: United Kingdom | 4 months ago
Credibility
22 January 2013 TheRetirementCentre.com has discovered in a survey that millions of people over the age of 50 will stop seeking independent financial advice as a direct result of new regulations that came into force at the end of 2012.
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Banking industry's year of shame ends in a blizzard of Libor revelations
London :: United Kingdom | 5 months ago
Credibility
Last week the Swiss bank UBS was fined by global regulators for manipulating the Libor rate and making corruprt payments to brokers. Photograph: Michael Buholzer/Reuters The pledge made by one UBS trader "I'm a man of my word" seems a fine sentiment,
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America's watchdogs scare Britain's bad companies. The Financial Services Authority must learn to bite like them
London :: United Kingdom | 5 months ago
Credibility
And the catalogue of misdeeds for which the UK's top firms have been brought to book makes for shocking reading. US civil and criminal authorities totalling $10.4bn, or £6.4bn, in 2012. That is the equivalent of 40% of the construction cost of
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DealBook: UBS Said to Face Fine in Rogue Trader Scandal
Zurich :: Switzerland | 6 months ago
Credibility
Carl Court/Agence France-Presse Getty Images The potential penalty against UBS could be one of the largest fines levied by the Financial Services Authority of Britain. UBS is expected to face a multimillion-dollar fine in connection with the $2.3
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Libor: government urged to implement reforms
London :: United Kingdom | 8 months ago
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Carl Court/AFP/Getty Images The government is under pressure to urgently implement proposals to overhaul the setting of Libor that could result in anyone attempting to rig the key interest rate going to jail. The proposals from Martin Wheatley, a
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Barclays Faces SFO Probe on Qatar Fund Payments
Doha :: Qatar | 9 months ago
Credibility
Barclays faces another legal pitfall, as UK criminal prosecutors the Serious Fraud Office is about to launch a probe into payments Barclays made in 2008 to Qatar's sovereign wealth fund as the bank sought to raise money and avoid a government bailout,
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Barclays needs a total management overhaul
Madrid :: Spain | 10 months ago
Credibility
Observer Marcus Agius , the chairman of Barclays , insisted on Friday that the bank currently without a chief executive following Bob Diamond's departure was not broken. "Typically when companies are in crisis and losing a chief executive is a good
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