JPMorgan Chase, HSBC and Crédit Agricole have been hit with fines totalling €485m (£413m) by the European Commission for rigging Euribor rates.
Firms selling contract for difference products (CFDs) face a clampdown by the Financial Conduct Authority amid fears too many retail clients are incurring “large and unexpected losses”.
Investment manager Pimco has been fined nearly $20m (£15.9m, €18.9m) by the US Securities and Exchange Commission (SEC) for misleading investors about the performance of its actively managed Total Return ETF.
British MPs have criticised HM Revenue & Customs (HMRC) over its lack of scrutiny on whether tax reliefs are being used effectively, raising doubts about plans to digitise its services.
The UK’s Financial Services Compensation Scheme (FSCS) has warned it may impose an interim levy on life and pension advisers over the increasing number of claims related to self-invested personal pension schemes (Sipps).
The director of a bankrupt UK-based IFA firm, who also ran a trading room, has been disqualified for eight years for failing to account for more than £4m ($4.9m, €4.6m) of client’s money, the Insolvency Service has revealed.
As part of its ScamSmart campaign, the Financial Conduct Authority has issued a warning over a ‘clone firm’ posing as Janus Capital.
US president-elect Donald Trump must show some backbone and repeal the Foreign Account Tax Compliance Act (Fatca) as a priority, says deVere founder and chief executive Nigel Green.
Mifid II is a big concern for around three-quarters of global asset managers, who think regulators need to provide better guidance and tools to navigate the increasingly complex landscape, according to State Street Corporation.
A sixth person has been charged by the Financial Conduct Authority (FCA) for promoting and selling shares through a succession of four boiler room companies.
The FCA has criticised the “weak price competition” among asset managers, attacking actively managed funds for failing to outperform their benchmark once fees have been taken into account.
At an average fee of around £157 ($195, €179) an hour, a large proportion of UK advisers are having to work longer hours to keep up with demand, according to a new survey by insurance giant Prudential.
It would be unwise to say that financial crime has been beaten as it will always “mutate and morph”, according to Andrew Bailey, chief executive of the UK's Financial Conduct Authority (FCA).
A French prosecutor has called for HSBC to stand trial for helping clients hide more than €180bn (£161.3bn, $199.8bn) in offshore tax havens from the country’s tax authorities, French news agency AFP has reported.
Mark Lyttleton, a former fund manager at BlackRock, has today pleaded guilty to two counts of insider trading and will be sentenced on 21 December, the Financial Conduct Authority has confirmed.
Six of the eight men found guilty last year of a UK property fund scam, which defrauded investors of around £4.3m ($5.24m, €4.78m), have been banned by the Financial Conduct Authority (FCA) from performing any function in relation to any regulated activity in the industry.
The UK’s Financial Conduct Authority (FCA) has begun a consultation with the finance industry to identify which areas of regulation it should focus its resources on in the future.
The Financial Conduct Authority risks becoming a “timid and cowed regulator” unless chief executive Andrew Bailey can effectively distance himself from politics and the financial industry, according to Cass Business School.
Discretionary fund management (DFM) looks set to benefit from Mifid II as almost a third of advisers expect the directive to result in the rise of outsourcing arrangements to financial advisers, according to Investec Wealth & Investment (IW&I).
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