The Financial Conduct Authority (FCA) has removed an IFA’s permissions for not having any qualified retail investment advisers working for the firm, the first action of its kind the regulator has taken since the introduction of the Retail Distribution Review (RDR). The Financial Conduct Authority (FCA) has ordered Catalyst Fund Management to cease advising retail clients on Read More …

In a month’s time most brokerage firms in the US will be forced to adopt measures to maintain records of all mobile communications. The rule mandated by the Dodd-Frank Act will come into force as of 21st December and will include the recording of both voice and SMS texts. Under the new legislation, firms trading Read More …

Following on from the news story: SAC Capital nears record insider trading settlement and will shut down London office, we can now confirm that hedge fund giant SAC Capital has agreed to plead guilty to insider trading allegations and will pay $1.8bn to settle the charges. SAC Capital has therefore become the first hedge fund Read More …

The UK would like to become the first non-Muslim country to offer sukuk, or Islamic bonds, for trade, the Prime Minister has told the World Islamic Economic Forum (WIFE). David Cameron said that the Treasury was “working on the practicalities” of issuing a sukuk worth around £200 million next year, with input from industry. Together Read More …

Rabobank, which began life as an agriculture cooperative in the Netherlands in the late 19th century, has become the largest Dutch lender and a modest player on the stage of world finance. On Tuesday, it also joined the ranks of institutions tarnished by the global rate-setting scandal. Not only have a string of international banks Read More …

Finding the right job in your chosen industry can be a nightmare of a challenge. Many websites are great at providing you with a whole host of the latest jobs. Unfortunately, however, you are then required to sift through them all to find the ones that are of any use or interest. From sports coaches Read More …

Merlin Entertainments, the company who owns a raft of popular tourist attractions including Alton Towers, announced it’s closing in on plans to launch its long-awaited stock market debut and offer shares to the public –with a sizeable shareholder perk. The company, the world’s second largest visitor attraction operator behind Walt Disney, has offered discounted tickets, Read More …

SAC Capital, a hedge fund prosecuted with insider-trading charges in New York, has reached a tentative deal with federal prosecutors to settle the case and pay more than $1 billion in fines and forfeitures, which would be the largest penalty of its kind. A deal is expected to include requiring the fund to plead guilty Read More …

A U.K. investigation into potential manipulation of currency markets is looking at a former trader at Royal Bank of Scotland who participated in electronic chat sessions with traders at other banks. Richard Usher, JP Morgan’s most senior currency trader in London and a member of the Bank of England committee took part in the chat sessions Read More …

China has agreed with the U.K. to allow investors around the globe to trade directly in Chinese shares and bonds through London’s banks and financial institutions. Chancellor George Osborne has announced moves aimed at making London the main centre for Chinese financial business overseas. The deal is the first of its kind in the western Read More …