The incoming chief executive of the Financial Services Authority has warned a number of banks and other financial institutions operating in the UK that they may not have done enough to protect themselves and their investors from an inevitable downturn in the credit markets, the Times reports.
Hector Sants, who takes over from outgoing FSA chief John Tiner today, said a number of institutions need to take steps to improve their internal risk systems. THE US SECURITIES AND EXCHANGE COMMISSION (SEC) is set to file charges against a board member of Dow Jones in relation to alleged insider trading in the company's shares, the Times reports. The group is the subject of a $5 billion (£2.4 billion) takeover offer that is being recommended by the Dow Jones board. Sir David Li, who is also the chairman and chief executive of the Bank of East Asia, has been notified that the SEC is...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
