Landsbanki

A rapid-response financial investigation team with wide-ranging powers is being set up in Iceland to prevent another financial meltdown.

The joint administrators of failed Landsbanki Guernsey have received the go-ahead to take legal action against Iceland, in a bid to recover as much money as possible for savers with money trapped in the bank.

The huge delays for compensation suffered by depositors with money in collapsed bank Kaupthing Singer & Friedlander highlight the need for a shake-up of banks' data handling, according to the Financial Services Compensation Scheme(FSCS).

The Financial Services Compensation Scheme (FSCS) says it expects an influx of claims against mortgage brokers in 2009/10 after banking failures saw it pay out more than £21bn in total in the last financial year.

The strained relations between Britain and Iceland after the collapse of Icesave has surfaced in official documents, which warn the UK it was inflicting damage equal to the Treaty of Versailles.

The Landsbanki Guernsey Depositors Action Group (LGDAG) has called on the Commonwealth Parliamentary Association (CPA) to support its attempts to recover 100% of its members' savings deposited with the failed bank.

The Treasury Committee has attacked the quality of IFA advice given to clients with money deposited with Icelandic banks in the run-up to their collapse in October last year.

The Treasury Committee has attacked the quality of IFA advice given to clients with money deposited with Icelandic banks in the run-up to their collapse in October last year.

Action groups fighting for compensation for depositors hit by the collapse of Kaupthing and Lansbanki have call for an investigation into the availability of onshore bank accounts for crown dependency residents.

Over 100 expat Landsbanki Guernsey depositors have joined forces to raise awareness of "unsafe" Guernsey and their lost savings to the G20 nations.