Regulator only stepped in nearly two years later
Alliance Trust Lord Smith of Kelvin also honoured
Almost one in 10 applications for top jobs in large financial services firms, including banks, have been shelved since the FSA began to vet candidates for senior management positions.
The FSA has secured, for the first time, a bankruptcy order against a former mortgage broker for non-payment of a £129,000 penalty relating to fraud.
The Kaupthing Singer & Friedlander Isle of Man Depositors Action Group (KSFIOMDAG) has called for an inquiry into the actions of the FSA and the Isle of Man regulator (FSC), along the lines of the investigation into the collapse of Equitable Life.
Washington Mutual (WaMu) bank has been closed and sold to JP Morgan Chase after suffering a bank run during the past fortnight.
Jon Pain, a former MD of Cheltenham & Gloucester and ex chairman of the Council of Mortgage Lenders, has been appointed as the FSA's managing director of retail markets.
The FSA has fined a mortgage broker £10,500 for offering unsuitable mortgages to consumers.
The FSA has fined an adviser firm for failing to maintain adequate capital and for providing misleading information to the regulator.