fines

The Financial Services Authority (FSA) will today suggest scrapping LIBOR and replacing it with a borrowing rate based on actual trades, it has been reported.

The Financial Services Authority (FSA) has issued a public censure of City Gate Money Managers and banned its director and compliance officer Stewart Wallace Domke from holding any significant influence Functions.

The Financial Services Authority (FSA) has banned and fined a former commercial insurance broker £471,846 for using clients' money to fund his own business.

The Association of Independent Financial Advisers (AIFA) is urging the Chancellor to reconsider plans to direct regulatory fines to government coffers.

The Financial Services Autority (FSA) has fined Swiss bank Habib AG Zurich £525,000 for failing to establish and maintain adequate anti-money laundering systems.

The Financial Services Authority (FSA) has fined Martin Currie Investment Management Limited and Martin Currie Inc £3.5m for failing to manage a conflict of interest between two clients.

The Financial Services Authority (FSA) has fined wholesale insurer Mitsui Sumitomo Insurance Company (Europe) £3.3m for serious corporate governance failings.

CONDENSED NEWS

Goldman Sachs has been fined $22m by a US regulator for failing to prevent upcoming research from its analysts being passed on to its top clients.

Ian Hannam, the chairman of capital markets at JP Morgan Cazenove, is understood to have resigned today after the Financial Services Authority (FSA) indicated it would fine him £450,000 for market abuse.