Kaupthing Singer & Friedlander

Four former bosses of collapsed Icelandic bank Kaupthing - including its chief executive and chairman - have been jailed for between three and five years in the heaviest sentences for financial fraud in Iceland's history.

The Serious Fraud Office (SFO) has pledged to continue its investigation into a property magnate linked to the collapse of Icelandic bank Kaupthing, despite a setback in the High Court related to search warrants it obtained as part of its inquiries.

CONDENSED

The Financial Services Authority (FSA) has publicly censured Kaupthing Singer and Friedlander Limited (KSFL) for failures in the assessment and reporting of its liquidity position in 2008.

Depositors who lost money with Isle of Man-based Kaupthing Singer & Friedlander finally have confirmation that the parental guarantee issued by the bank is valid and binding.

Kaupthing approved loans worth €2bn (£1.69bn) for Alisher Usmanov, the billionaire behind Arsenal FC, less than two weeks before the Icelandic bank went bust.

The FSA has been accused of refusing to release key documents relating to the collapse of Icelandic bank Kaupthing to the Serious Fraud Office (SFO) because of fears they will expose regulatory failings.

Financial advisers may receive a reduced FSCS levy next year after the Court of Appeal ruled the compensation scheme is entitled to some of the £150m assets of failed Icelandic bank Kaupthing Singer & Friedlander (KSF).

Icelandic authorities have arrested the former chief executive of collapsed bank Kaupthing, in the first high profile arrest following the country's financial collapse.

The FSA plans to extend the scope of the Significant Influence Function (SIF) regime and introduce a more detailed framework on effective governance standards within firms.