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Tag Archive: investigation

  • FSA’s RBS report to undergo independent scrutiny

    The House of Commons Treasury Select Committee has requested independent experts to carry out a review of the Financial Services Authority’s long-awaited report into the failure of Royal Bank of Scotland (RBS). The yet to be published report will include … Read more »

  • Deutsche Bank settles US tax evasion case

    Deutsche Bank has settled up on areas of wrongdoing regarding US tax law by entered into a Non-Prosecution Agreement with the United States Attorney’s Office for the Southern District of New York. The bank has also reached a Closing Agreement … Read more »

  • FSA backs down on publication of RBS review

    The Financial Services Authority (FSA) has reportedly agreed to publish in full the findings of its supervisory investigation into Royal Bank of Scotland (RBS), and near collapse of the bank. The regulator previously stated that information gathered from RBS during … Read more »

  • FSA clears RBS seniors of fraud or dishonesty

    The Financial Services Authority (FSA) has completed its supervisory investigation of Royal Bank of Scotland (RBS), begun in May 2009. The review has confirmed that the bank made a series of bad decisions in the years immediately before the financial … Read more »

  • OFT pulls lenders into line on charging orders

    The Office of Fair Trading (OFT) has imposed certain requirements on Alliance and Leicester Personal Finance Limited (part of Santander), American Express Services Europe Limited, HFC Bank Limited (part of the HSBC Group) and Welcome Financial Services Limited (part of … Read more »

  • Ernst & Young investigated over Lehman “Repros”

    The Accountancy and Actuarial Discipline Board (AADB) has begun an investigation into the conduct of Ernst & Young LLP, in its role as auditors to Lehman Brothers International Europe. The Wall Street bank collapsed in September 2008, since when a … Read more »

  • Former RBS director agrees to FSA undertaking

    The Financial Services Authority (FSA) has announced that it has been carrying out an investigation into Johnny Cameron, a former executive director of Royal Bank of Scotland Group plc (RBS) and former chairman of global markets. Mr Cameron has agreed … Read more »

  • Northern Rock financial officer departs under FSA cloud

    Northern Rock has let go the chief financial officer of its “bad bank” element. David Jones’ departure was announced yesterday as “immediate” and to allow him “to focus on an ongoing FSA investigation into matters relating to a period before … Read more »

  • PM demands investigation into Goldman Sachs

    Weekend reports that the Financial Services Authority (FSA) has launched a probe into the London operations of Goldman Sachs were followed by public demands for an investigation by Prime Minister Gordon Brown. Last week, the US Securities and Exchange Commission … Read more »

  • OFT to investigate investment banking fees

    The Office of Fair Trading (OFT) is proposing a major investigation into investment banking profits, The Times has reported. According to the newspaper, the watchdog will be looking in particular at the levels of competition in investment banking fees for … Read more »

  • Kaupthing investigated by SFO

    The Serious Fraud Office (SFO) has launched an investigation into the UK activities of Kaupthing, the Icelandic bank that collapsed in October 2008. Enquiries will centre on the bank’s Kaupthing Edge brand, which held money from over 30,000 individual British … Read more »

  • SFO moves in on Icelandic banks

    The Serious Fraud Office (SFO) is primed to launch an official investigation into the UK operations of Kaupthing, Glitnir and Landsbanki. According to reports, loans made by the collapsed Icelandic banks to certain high-profile individuals have attracted the interest of … Read more »

  • FSA prepares for investigation of banks and their bosses

    The Financial Services Authority (FSA) is reported to be in the process of signing-up one of the UK’s leading audit firms to assist in an investigation into the conduct of banking bosses prior to the events of last October. The … Read more »

  • Cattles announces £850m provision for bad debt

    Cattles has warned that it may need to make a provision of £850 million to cover bad debts. The estimate comprises £700 million relating to past years, plus £150 million for potential future losses. The sub-prime lender, which operates under … Read more »

  • FSA in line for further battering

    The reputation of the Financial Services Authority (FSA) is at risk of being further sullied by a compensation claim from a group of investors who are alleging negligence on the part of the regulator. The Economic Crime Department and City … Read more »

  • Anglo Irish under investigation for fraud

    Anglo Irish, the third-largest bank in the Republic, is being investigated for fraud. The bank was nationalised in January after plans to inject €1.5 billion into the lender, in return for a 75% stake, were rejected by ministers because the … Read more »

  • FSA beefs up investigations team

    The Financial Services Authority (FSA) is planning a clampdown on those who attempt to manipulate the markets for personal gain. The regulator has more than doubled the size of its investigation team, to 30, and plans to bring more prosecutions … Read more »