The Financial Ombudsman Service (FOS) has revealed the details of a provisional judgement against an IFA who invested clients in Arch Cru.

The FSA has banned a hedge fund manager and fined him £14,000 for failing to spot attempts by an employee to hide huge losses caused by the collapse of Lehman Brothers.

The Financial Services Authority (FSA) will face questions from Arch cru investors at a hearing on Wednesday on the regulator's role in the downfall of the fund range - and the £54m redress deal - despite not being allowed at the meeting.

Hargreaves Lansdown plans to charge investors who hold certain tracker funds on its Vantage platform a flat fee of up to £2 per month, compared to the current annual rate of 0.5%.

Capita Financial Managers, which wants Arch Cru investors to accept a payoff linked to the sale of assets from the suspended fund range, has admitted that three-quarters of the remaining value of the cells is uncertain.

The Treasury has sold Northern Rock plc to a consortium led by Richard Branson's Virgin Money for £747m, at a £650m loss on the £1.4bn of capital it injected into the bank.

The Financial Services Authority (FSA) has fined discretionary fund managers McInroy & Wood Limited (MWL) £15,050 for breaching the regulator's client money rules.

The FSA has fined a Dubai-based private investor $9.62 (£6m) for manipulating the closing price of securities on the London Stock Exchange, in the largest fine imposed by the FSA on an individual.

Friends Life has today announced the creation of Friends Life Investments (FLI), a new inhouse asset management business which will launch in the second half of 2012.

State-owned Royal Bank of Scotland is to payout around £500m in bonuses to its traders and investment bankers, despite a collapse in profits.