Financial services

The Financial Services Authority (FSA) has fined Santander £1.5m for failing to confirm to customers the circumstances under which its structured products would be covered by the Financial Services Compensation Scheme (FSCS).

Eric Daniels, Lloyds' former chief executive, will lose £580,000 or 40% of the 2010 bonus he was due to be awarded in deferred shares.

The Financial Services Authority (FSA) has referred Catalyst Investment Group, the UK marketing and distribution agent for ARM Asset Backed Securities, to its enforcement and financial crime division, according to reports.

Trillions of dollars in fake US bonds have been seized from a warehouse in Zurich alleviating a "severe threat" to global financial security, according to media reports.

The Royal Bank of Scotland (RBS) director responsible for remuneration has defended awarding chief executive Stephen Hester a bonus worth £963,000.

A 44-year-old man employed at Legal & General Investment Management has been arrested by the Financial Services Authority (FSA).

A firm has been fined £97,600 by the Financial Services Authority (FSA) for mis-selling unregulated collective investment schemes (UCIS), some of which have since wound up resulting in potential investor losses.

The Attorney-General has called for the first inspection of operations at the Serious Fraud Office(SFO).

Five current and former employees of Royal Bank of Scotland's(RBS)investment banking arm have been arrested as part of a wider investigation into tax evasion thought to involve at least two other City banks.

Retail investors are twice as likely to pay more for actively-managed funds than reduced costs for index trackers, research from Lipper has revealed.