Wealth managers

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.

The son of troubled overseas property company Harlequin's chairman has been disqualified from being a company director for 13 years.

The Financial Services Compensation Scheme (FSCS) has so far compensated 1,700 claimants with a total of £32m in relation to the failed CF Arch cru funds.

The Financial Conduct Authority (FCA) has banned and imposed fines of £28,000 each on two individuals for failings related to the sales of unregulated collective investment schemes (UCIS) to some 800 investors.

The Financial Services Compensation Scheme (FSCS) said it is continuing to receive claims in respect of the CF Arch cru funds, and has put the likelihood of a further interim levy for 2013-14 as ‘medium'.

The Serious Fraud Office (SFO) has charged four men, including an independent financial adviser (IFA), with fraud in connection with the promotion of biofuel investment products through SIPPs to UK investors.

The Treasury is to launch an advertising campaign promoting the Equitable Life compensation scheme after a damning report said its performance had been "unacceptably poor".

The Financial Conduct Authority (FCA) is writing to 11 fund groups this week as part of a thematic review into fund charges.