Wealth managers

Barcelona footballer Lionel Messi and his father Jorge have paid €5m to Spanish authorities after they were accused of filing inaccurate tax returns, according to reports.

Small businesses mis-sold interest rate hedging products by high street banks have so far accepted £500,000 in compensation but the figure is likely to rise significantly, the Financial Conduct Authority (FCA) has said.

The Financial Ombudsman Service (FOS) threw out two-thirds of gripes against the most complained-about advisory groups in the first half of 2013, figures show.

The Financial Ombudsman Service (FOS) handled more than 327,000 complaints in the first half of the year, a record for the organisation, figures published today show.

The IMA has created two new regulatory affairs director roles as part of a restructure to help the trade body meet its strategic priorities.

Investment companies may have to change the way they pay for research from banks, as the practice comes under the regulator's microscope.

J.P. Morgan could be hit with a fine of more than $6bn from US authorities as they pursue the bank over sales of securities to government-backed mortgage companies.

Spanish police say they have arrested a former JPMorgan Chase trader wanted by the United States for allegedly falsifying bank records to cover up $6bn in trading losses.

The Financial Conduct Authority (FCA) has written to advisers asking them why they failed to comply to its redress scheme rules in reporting back on the number of eligible Arch Cru claimants they had on their books.

Two tax consultants have been charged with fraud over their part in a £1m tax scheme which took advantage of charity reliefs.