Financial services

Massachusetts Secretary of Commonwealth William Galvin has reportedly issued Morgan Stanley with a subpoena as part of an investigation into Facebook's IPO, while two investors are taking legal action against Facebook, Nasdaq and Morgan Stanley following...

Smith & Williamson Investment Management is the latest group to add institutional share classes to its entire pooled funds range in preparation for RDR.

Business secretary Vince Cable is a "socialist" who should never have been given responsibility for business policy, Adrian Beecroft has claimed.

HSBC has "postponed indefinitely" plans to move its headquarters from London to Hong Kong, its chief executive said.

The Upper Tribunal has upheld the Financial Services Authority's (FSA's) decision to ban and fine two former UBS advisers £1.3m in relation to an unauthorised trading scheme.

CONTRARIAN

Bank of England policymaker Adam Posen will step down from the Monetary Policy Committee (MPC) on 31 August when his three-year term comes to an end.

J.P. Morgan Chase's CIO unit - the arm at the centre of a $2bn trading loss - has more than $100bn invested in asset-backed securities and structured products, according to reports.

Allianz Global Investors has today launched a range of four risk-graded portfolios, the Allianz RiskMaster funds.

The FSA has fined Swiss bank Habib AG Zurich £525,000 for failing to establish and maintain adequate anti-money laundering systems.