Banks need to set aside more money to cover bigger potential losses on commercial real estate and from the euro area, possible fines for mis-selling and stricter risk models, the Bank of England said following a report by the Financial Services Authority.Thursday, 28 March, 2013, 5:52am
The Financial Services Authority said it found serious failings in reviews of products sold by HSBC, Barclays, Royal Bank of Scotland and Lloyds Banking. The FSA looked at 173 sales to "non-sophisticated" customers and found that more than 90 per cent did not comply with the rules.1 Feb 2013 - 5:23am
When Mark Carney replaces Mervyn King as governor of the Bank of England in July, the world will be deprived of King's witty public utterances. My favourite came when, commenting on strong retail-sales figures during one Christmas period, he cast doubt on their significance for assessing the state of the economy.31 Dec 2012 - 3:23am
Glencore gets China's nod for Viterra deal8 Dec 2012 - 3:46am
Hong Kong Exchanges and Clearing is making its first share offering since it was listed, aiming to raise US$800 million following the British regulator's approval yesterday for HKEx's takeover of the London Metal Exchange.
The Financial Services Authority gave the go-ahead for HKEx's £1.39 billion (HK$17.24 billion) bid for the LME, the world's biggest metal exchange.30 Nov 2012 - 3:31am
UBS was fined £29.7 million (HK$368.87 million) by the British authorities and told by the Swiss regulator that it might have to increase capital levels for operational risks as regulators levied penalties in response to Kweku Adoboli's US$2.3 billion trading loss.27 Nov 2012 - 4:15am
Single mother Christina Weckwerth and chiropractor Jessica Mang didn't know each other even existed, yet they shared two things in common, British prosecutors say.18 Oct 2012 - 3:37am
Oversight of the London interbank offered rate will be handed to Britain's financial regulator under proposals designed to revive confidence in a benchmark tarnished by scandal.29 Sep 2012 - 2:32am
The British Bankers' Association (BBA) has signalled willingness to give up oversight of the London interbank offered rate following claims that traders manipulated the benchmark rate.27 Sep 2012 - 3:25am
HSBC hit with record fine for misguiding the elderly. Surprised?
We were saddened to see our very own HSBC - the warm, cuddly bank that professes to care so much for us, our well-being and of course, our wealth - has to pay GBP39.8 million (HK$495 million), including a record fine, in Britain for ripping off elderly people in care homes.7 Dec 2011 - 12:00am