US

US Federal authorities are reportedly investigating RBS over possible dealings with Iran, the latest case of a UK bank coming under scrutiny from US regulators.

Standard Chartered has agreed to pay a $340m (£217m) fine to US regulators after it was accused of trying to hide up to $250bn of transactions with Iran.

Pershing has begun hosting its practice management programme in the UK for the first time, giving firms an insight into regulation, buying, selling and merging businesses, technology and changing client demands.

The Financial Services Authority (FSA) has warned that most crowdfunding schemes should only be targeted at sophisticated investors, amid concerns about their risk and complexity.

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AUGUST ANGST

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Almost half the victims of the Bernie Madoff ponzi investment scheme will get their money back after a $1.5bn payout was announced, The Times reports.

Trade minister Lord Green, the former CEO and chairman of HSBC, has been warned he has "serious questions" to answer over the bank's failure to stop money-laundering by drugs cartels and terrorists.

Imminent plans for another round of US quantitative easing were ruled out yesterday following the publication of the US Federal Reserve minutes, disappointing markets.