Regulation

Japan's financial watchdog has told an investment firm to halt its operations on suspicion it has lost most of the $2.3bn (£1.5bn) funds it manages.

The FSA's acting enforcement head, Tracey McDermott, said the financial services industry is failing to heed the lessons of previous failures and "has no-one but itself to blame" for low consumer confidence in the sector.

Keydata founder Steward Ford is seeking to ban FSA staff who saw protected attorney-client e-mails from being involved in an investigation into the company.

The owner of Glasgow Rangers FC has admitted he used the payment for future season ticket sales from Ticketus, the company backed by Octopus Investments' Protected EIS, to complete the takeover of the club.

City of London police and the FSA are investigating a suspected $150m trading fraud attempted by a former trader at Threadneedle Investments.

Life settlements fund EEA has generated nearly £40m in revenues in the last two months, despite its suspension following "unprecedented" redemption requests.

Guinness Asset Management has launched a new share class across its fund range, becoming the latest firm to gear up for RDR with the launch of a ‘clean fee' structure.

The Financial Services Authority (FSA) has fined Santander £1.5m for failing to confirm to customers the circumstances under which its structured products would be covered by the Financial Services Compensation Scheme (FSCS).

Eric Daniels, Lloyds' former chief executive, will lose £580,000 or 40% of the 2010 bonus he was due to be awarded in deferred shares.

The Financial Services Authority (FSA) has referred Catalyst Investment Group, the UK marketing and distribution agent for ARM Asset Backed Securities, to its enforcement and financial crime division, according to reports.