Regulation

The Financial Services Compensation Scheme (FSCS) has begun proceedings against more than 160 advisory firms it alleges mis-sold Lifemark-backed Keydata products.

A total of 162 firms have been included in proceedings launched by the Financial Services Compensation Scheme to claw back money paid out to investors in Lifemark-backed Keydata products.

The Financial Services Authority (FSA) has been told by a judge that it must destroy privileged attorney-client emails it obtained as part of its investigation into Keydata.

Goldman Sachs has been fined $22m by a US regulator for failing to prevent upcoming research from its analysts being passed on to its top clients.

UCIS

The Financial Services Authority (FSA) is to consult on reducing its projection rates after independent research supported the move.

REGULATION

A High Court judge has rebuked the Serious Fraud Office (SFO) for "sheer incompetence" after the watchdog admitted it had "no clear record" of the information it used to obtain search warrants against property tycoon Vincent Tchenguiz.

The man arrested by the Financial Services Authority (FSA) in connection with an unauthorised foreign exchange trading scheme also hit headlines last month, it has emerged.

The Financial Services Authority (FSA) today said it was "time to put right" problems it had identified with advisers switching client investments.