Regulation

A US Senate investigation has uncovered how a "pervasively polluted" culture at HSBC and lax controls left it open to being used to launder dirty money from around the world.

Senior FSA executive Andrew Bailey has accused Barclays of operating with a "culture of gaming" which came from top of the bank.

The former chief operating officer of Barclays, Jerry del Missier, has told MPs Bob Diamond instructed him to lower the bank's LIBOR submissions, on the orders of the Bank of England's deputy governor Paul Tucker.

Fidelity Worldwide Investment is to add unbundled share classes for discretionary advisers to a dozen funds in its range.

Head of the Financial Services Authority (FSA) Lord Turner is set to face criticism from MPs today over the watchdog's slow reaction to LIBOR abuses, according to reports.

Standard Life Investments (SLI) has joined a host of larger fund groups launching low-cost share classes ahead of RDR.

The Financial Services Authority (FSA) has set out the legal backing it received for its proposed £110m redress scheme for Arch cru investors.

BlackRock has launched a range of funds investing in a number of index trackers, as it moves to compete with the rise in demand for low-cost funds ahead of RDR.

LIBOR rate-rigging penalties and damages to investors could reach $22bn for the 12 global banks involved, according to Morgan Stanley estimates.

Former boss of Barclays Bob Diamond could be called to Congress to face questions from US politicians, the Guardian reports.