Financial services

Syed Kamall, member of the European Parliament for London, said he is "not impressed" with the European Commission's assessment of the impact of EU regulation on the UK.

Thousands of Arch cru investors have written to their MPs today accusing Capita of intentionally violating the Financial Services Authority's treating customers fairly (TCF) charter.

The Financial Services Authority (FSA) has fined Credit Suisse £5.95m for systems and controls failings in relation to sales by its private bank of structured capital at risk products (SCARPs).

Warnings about banks, eurozone concerns and a high profile job for an ex-New Star manager were among our best read stories this week.

The MP who this week had his calls for a government inquiry into the controversial £54m Arch cru investors' payment scheme dismissed by the Treasury, has said the fight for answers will continue in the corridors of Westminster.

The chairman of the FSA has suggested Parliament will have to give the Financial Conduct Authority (FCA), one of its successor bodies, even greater powers to protect consumers.

The Treasury has created a steering group tasked with developing a range of simple financial products.

The London offices of Royal Bank of Scotland (RBS) have been raided as part of a major investigation by the European authorities into allegations lenders manipulated a key borrowing rate in the run-up to and during the financial crisis.

MPs from six political parties have this morning battered Capita with a tirade of attacks over its management of Arch cru investors' money, only to have their calls for a public inquiry into the debacle dismissed by Treasury secretary Mark Hoban

The FSA could face legal action for breach of its own rules unless it lifts restrictions on Arch cru investors claims at the Financial Ombudsman Service and launches a public consultation into the amount of redress they should receive.