Regulation

The Financial Services Authority (FSA) has issued a public censure of City Gate Money Managers and banned its director and compliance officer Stewart Wallace Domke from holding any significant influence Functions.

The Financial Services Authority (FSA) has appointed Tracey McDermott as its director of enforcement and financial crime, a position she has held in an acting capacity for the past 16 months.

FATCA

Jessica Harper, a former head of security at Lloyds Banking Group, has admitted carrying out a £2.4m fraud.

Barclays Bank is considering a new remuneration process which would see bonuses for its top executives reduced and payment deferred until they have retired.

The Financial Services Consumer Panel (FSCP) is urging the Financial Services Authority (FSA) to seek to extend the deadline for a £54m Arch cru payment scheme involving Capita, BNY Mellon and HSBC.

A range of kitemarked simple products should be introduced to help restore consumer trust in the financial services industry, a Treasury-commissioned review has recommended.

RED ALERT

Wealth manager St James's Place is considering a discretionary fund management (DFM) offering to land high net worth (HNW) clients.

William Yonge, partner at Morgan Lewis & Bockius, examines the regulatory and compensation issues relating to ESMA's consultation on new guidelines for how alternative investment fund managers should be compensated.