Regulation

Barclays bank chairman Marcus Agius has confirmed his resignation, admitting the "the buck stops with me" for the firm's interest rate fixing scandal.

The Financial Services Authority (FSA) will be the biggest winner following the retail distribution review (RDR), according to a survey of 280 advisory firms.

The estimated value of the remaining assets within the Arch Cru funds has fallen again, reducing the amount of returns to investors being offered by Capita Financial Managers, the authorised corporate director.

Barclays, HSBC, Lloyds and RBS have agreed settlements with the FSA after the regulator found "serious failings" in their sales of interest rate hedging products.

The IMA has called upon groups to enhance transparency on fund charges across all investor-facing documents, as well as giving a more prominent position to the ‘ongoing charge' and provide details of transaction costs.

FUND CHARGES

RBS and Lloyds, the two UK tax-payer backed banks, are among a dozen financial groups being investigated for manipulating the LIBOR rate, which resulted in a record £290m regulator fine for Barclays, it was revealed yesterday.

BARCLAYS MESSAGES

Bank of England governor Mervyn King said he voted for more QE at the last meeting of the MPC because he is fearful over the outlook for Asia, emerging markets, and the US, as well as the ongoing eurozone crisis.

The Financial Services Authority (FSA) has publicly censured Kaupthing Singer and Friedlander Limited (KSFL) for failures in the assessment and reporting of its liquidity position in 2008.