Regulation

Bank of America has set aside $400m (£253m) due to rising litigation costs associated with an investigation into foreign currency manipulation at the bank.

The liquidated Connaught fund is to sue its former authorised corporate directors on behalf of a group of investors, investment platforms and the trustee of a unit trust.

The Financial Ombudsman Service (FOS) has directed a complainant to his former adviser after ruling a charge levied on his investment by his platform was "fair and reasonable".

All seven product providers featured on Sesame's ‘focussed' restricted advice panel have denied breaching the regulator's rules on inducements, after the network was fined £1.6m for selling the coveted spots to the highest bidders.

Two fraudulent investment companies that raised more than £850,000 from the public for near worthless carbon credits have been ordered into liquidation by the High Court.

Legal & General Assurance Society (L&G) has been directed to compensate two clients it advised to transfer savings out of their employer's pension arrangements 21 years ago.

The Financial Conduct Authority (FCA) has extended to January its support for a 'negotiated settlement' for investors in the failed Connaught Series 1 fund.

Yorkshire Bank has been accused of failing to help investors who lost money in failed property firm Arck, despite setting up a dedicated "support scheme" brokered by the Financial Conduct Authority (FCA), prompting a lawyer to raise the issue with MPs....

A network is planning to test its independent advisers' knowledge on unregulated collective investment schemes (UCIS), and if they fail, will ask them to become restricted.

Past and present appointed representatives (ARs) of Sesame have expressed their anger at being told advice previously passed by the network as suitable has now been deemed wrong in a widespread review following a £6m fine from the regulator.