FSA

The Financial Services Authority (FSA) has set out the legal backing it received for its proposed £110m redress scheme for Arch cru investors.

Henderson Global Investors is making its institutional share classes available to retail investors, and launching a range of 0.75% share classes, ahead of the RDR deadline at the end of the year.

An independent financial adviser is spearheading a campaign to revive trust in financial services, after warning the situation had reached a "crisis point".

Barclays former chief executive Bob Diamond has said he is "dismayed" MPs have questioned the truthfulness of answers he provided to the Treasury Select Committee.

The FSA's chairman Lord Adair Turner warned Barclays earlier this year its reputation in the wider market was being damaged by its own submissions to banking bodies and its handling of trading books.

Mervyn King, the governor of the Bank of England, told Barclays' Marcus Agius on 2 July that Bob Diamond had lost the support of the regulator.

Brussels is proposing new rules to prevent the manipulation of LIBOR as part of a crackdown in the wake of the rate-fixing scandal.

The FSA has written to fund houses requesting reports on whether their corporate bond funds could meet redemption demands, amid liquidity concerns in the fixed income market.

With banks hitting the headlines for all the wrong reasons, Joanna Faith asks financials managers whether the recent volatility has provided a good buying opportunity or whether there is better value elsewhere.

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