Financial services

Economist Roger Bootle has revealed what he believes are the five key failings of financial markets, which should provoke authorities to intervene with tighter regulation.

Financier Allen Stanford faces up to 20 years in prison after being found guilty of orchestrating a $7bn Ponzi scheme.

Geir Haarde, the former Icelandic Prime Minister, is to go on trial on charges of negligence during the 2008 financial crisis.

Asset managers and business leaders including Neil Woodford and Terry Leahy have criticised short-termism among UK investors and warned it is a threat to equity markets.

River and Mercantile, the long-only specialist boutique, has joined a host of larger fund groups launching low-cost share classes ahead of RDR after unveiling shares with commission stripped out.

Neptune's Robin Geffen has spoken out against Prudential's plans to re-domicile overseas, saying it would raise questions over the insurer's "financial health".

EEA plans to reopen its £600m life settlements fund "as soon as possible", once the outcome of an FSA consultation on the sale of traded life policy investments (TPLIs) has been agreed.

The Financial Services Authority (FSA) will allow advisers to continue to take trail commission after 2012 on fund switches within life policies set up pre-RDR.

Perma-bear Albert Edwards has called for UK corporation tax to be raised so the surpluses companies are sitting on can be used to boost the global economy, branding plans for tax cuts "stupid".

Japan's financial watchdog has told an investment firm to halt its operations on suspicion it has lost most of the $2.3bn (£1.5bn) funds it manages.