Regulation

The European Commission has cracked down on the fixing of interest rates in the latest twist to the LIBOR scandal, which has dominated headlines in recent weeks.

Financial Services Authority (FSA) chairman Lord Adair Turner said the regulator is reviewing its approach to supervision following the LIBOR scandal, but said it would cost too much to prevent all malpractice in the industry.

John Kay has released his final report on the UK financial services sector, calling for investors to rethink their approach to portfolio construction and risk management.

European Commissioners are set to make interest rate rigging a criminal offence after the LIBOR scandal, according to reports.

A proposed £110m redress scheme for Arch Cru investors could "irreparably" damage firms forced to pay for the failures of others through the Financial Services Compensation Scheme (FSCS), the regulator has been warned.

Amendments should be made to the Financial Services Bill to ensure the Financial Conduct Authority (FCA) properly promotes UK financial services in the global market, a think tank has said.

Victims of a £1m boiler room scam are to be paid back a fraction of their losses after the Financial Services Authority (FSA) secured a court order against the fraudsters behind it.

Regulators have turned their attention to at least four of Europe's largest banks in a continued investigation of manipulation of the LIBOR benchmark interest rate.

The board of the Arch Cru fund cells has signalled its intentions to ramp up legal action against the service providers behind the investments.

Senior FSA executive Andrew Bailey has accused Barclays of operating with a "culture of gaming" which came from top of the bank.