Regulation

HSBC has revealed it faces a hefty fine - estimated at $1bn by analysts - from US regulators for failing to have the right anti money laundering controls in place from 2004 until 2010.

Lloyds Banking Group could have to pay out as much as £1.5bn if found guilty of manipulating the LIBOR rate, analysts at Liberum Capital have warned.

UK banking giant HSBC is planning to apologise to the US Senate following an investigation earlier this year into money laundering.

The Bank of England (BoE) considered buying bicycles so its officials could move around London in the event of a full-scale financial meltdown, it has been revealed.

GOSLING'S GROUSE

J.P. Morgan Asset Management (JPMAM) is to launch an investment-focused outsourcing solution for advisers ahead of RDR.

Asset management and advisory group Ashcourt Rowan has narrowed its losses after implementing a programme of cost savings following a strategic review of the business.

Brussels is proposing new rules to prevent the manipulation of LIBOR as part of a crackdown in the wake of the rate-fixing scandal.

Financial adviser Lighthouse Group has announced it plans to de-list from AIM.

The Serious Fraud Office will launch a criminal investigation into the manipulation of the benchmark lending rate.