Wealth managers

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.

HSBC has put aside $1.3bn (£830m) in UK customer redress provisions and $700m (£450m) relating to US regulatory and legal issues as it reports $12.7bn in interim pre-tax profit.

Brewin Dolphin reported income for Q3 was up 4.4% to £66.8m compared to the same period in 2011, with recurring revenue now representing 67% of the total.

Six people have been jailed after a successful Financial Services Authority (FSA) prosecution for insider dealing.