The FSA is thought to have looked into the issues raised last year, but decided that it had no firm evidence and declined to progress. Spitzer's disclosures and the SEC's determination to become involved have, however, prompted the FSA to take another look.
Although it is believed that the enforcement division of the FSA is not involved, it is thought that other staff have started to collate evidence of alleged wrongdoing.
The FSA is known to have cooperated with Mr Spitzer and the SEC, but has not been under the same pressure from investors that have kept the US investigations in the headlines. The FSA also do not have the same kind of resources avilable to it as its US counterpart. Commentators believe that this may hinder any future formal investigation.
US Analyst Inquiry Spreads To London
The US Securities & Exchange Commission (SEC) has now launched an inquiry into the practices of stock analysts at several investment banks, following the recent disclosures of possible conflict made by New York state attorney general Eliot Spitzer. In London the Financial Services Authority (FSA) has now decided to look again into the matter.
'Gang Of One' - The True Story Of How A Successful Banker Coped With Prison Life
'The End Of Normal' - The Stigma Of Being A MadoffNews RSS Feed Like us on Facebook Linkedin Follow us on Twitter
Videos
Latest in Business
back-up- Disbelief As Greek Politicians Delay Deal On €130bn Rescue Package
- Firms Consider Stopping Annual Bonus Awards
- Goldman Bosses Get Bonus Cuts, Firm Looks For Growth In Europe
- PIMCO Announces EVP, SVP & VP Promotions
- Last Week's Biggest Losers
- 35th Annual Empire State Building Run-Up
- Bob Diamond Comp, Goldman, Julius Baer, Lazard, MF Global, Hedge Funds
- AG Announces Major Lawsuit Against Largest US Banks For Deceptive & Fraudulent Use Of Electronic Mortgage Registry
- Bankers Warned Of Carnage & Urged Not To Bother Going To Work
- Even The Bankers Are Saying It: This Might Be The End For Big Bonuses
- London Deals
- Lloyd Blankfein Speaks Out For Marriage Equality
- Obituary: The Investment Banking Bonus
- 31 Wall St Execs Who Did OK On Pay For 2011
- Who To Blame For The Great Recession ? So Many Big Names Are In The Frame
- 'Old Traders' - Chapters I - VIII
- BofA, BNY Mellon, Carlyle, Goldman, MF Global, John Paulson, Allen Stanford
- Featured Recruiter - NJF Search
- Featured Training Company of the Month – PRPi Training Limited
- Recruitment Firms We Like
- Here Is The City Hits New Readership High - 414,059 Unique Users
- RBS Chairman Defends Stephen Hester's Near-£1m Bonus
- Top Firm Said To Be Cutting Bonuses & Jobs
- UBS Faces Formal FSA Investigation After Kweku Adoboli Charges
- Ex-MF Global Chief Risk Officer Says He Expressed 'Concerns' & Urged 'Caution'
- Ed Miliband's Speech On Banking - Pay 'Too Big, Too Often'
- MF Global 'Board And Senior Management Were Highly Sophisticated'
- BofA, Credit Suisse, Jefferies, MF Global, RBS, UBS
- Changes To UBS Board Of Directors
- Barclays, Bank Of Nova Scotia, Blackstone, Deutsche, Evercore, JPMorgan, MF Global, UniCredit
- M&A & Capital Markets Snapshot
- Financial Services Authority Asks For £78m More In Funding
- CEO Admits That Firm Broke Bonus Promise
- Deutsche Bank 2011 Compensation Details Now Out
- SEC Charges Former Credit Suisse Investment Bankers
- Letter From Mark Zuckerberg In Facebook IPO Filing
Features
- And The Best Place To Work In The Global Financial Markets 2011 Is...
- The Top 100 Financial Markets Firms 2011
- Recruitment Firms We Like
- Execuzen - Best Search Firm 2011
- Eximius Group - The Best Contingency Recruitment Firm 2011
- Hays Financial Markets - Best Temp / Interim Recruitment Firm 2011
- Holmes Search - The Best Compliance Recruitment Firm 2011
- Huxley Associates - Best HR Recruitment Firm 2011
- Selby Jennings - The Best Front Office Recruitment Firm 2011
- Selby Jennings - The Best IT Recruitment Firm 2011
- Selby Jennings - The Best Risk Management Recruitment Firm 2011
- Tay Associates - Best Secretarial / PA Recruitment Firm 2011
