Financial services

The Financial Services Authority (FSA) has admitted it had concerns about the way in which the industry was being asked to fund the Money Advice Service (MAS), although is hand was forced by the Treasury.

Three people have been handed custodial sentences after pleading guilty to charges of insider dealing.

Almost one in five schemes say they have suffered from fraud in the past two years, representing a 55% rise compared to last year, according to research from Baker Tilly.

Former billionaire Allen Stanford, who stole $7bn from his investors in a Ponzi scheme, has been sentenced to 110 years in US courts.

Investment Quorum's investment committee is looking to deploy cash piles into the markets on its model portfolios as it urges clients to "be brave" and embrace opportunities found in market volatility.

Members of the Treasury Select Committee have published a special review of the government's "defective" banking reforms, according to reports.

Companies are still 'seriously unprepared' for the FATCA rules which will come into force in January next year, a new survey by Thomson Reuters has revealed.

Jérôme Kerviel, the rogue trader who lost €4.9bn at Société Générale, described himself in court yesterday as a fall guy in a plot to hide the bank's exposure to sub-prime lending.

Carbon credits are the latest asset class being targeted by financial services fraudsters, the Daily Telegraph has reported.

The Financial Services Authority (FSA) has warned investors against dealing with clones of Morgan Stanley and Allianz International.