Three new Chairmen have been appointed to the independent Panels which lead the process for constructive challenge of the Financial Conduct Authority’s (FCA’s) policies and practices from the point of view of regulated firms.
In a prosecution brought by the Financial Services Authority (FSA) and heard at Southwark Crown Court Richard Joseph, age 43, has been found guilty of 6 counts of conspiracy to deal as an insider. He has been sentenced to four years on each count, which will be served concurrently.
The Financial Services Authority (FSA) has appointed two new non-executive directors to the Board of the Financial Services Compensation Scheme (FSCS). Marian Glen and Charles McKenna will take up their positions on 1 February 2013.
The Financial Services Authority (FSA) has fined UBS £160m for misconduct relating to the London Interbank Offered Rate (LIBOR) and the Euro Interbank Offered Rate (EURIBOR). This is the largest fine ever imposed by the FSA.
The Financial Services Authority (FSA), as lead regulator for the HSBC Group globally, is taking action in relation to issues in respect of HSBC’s compliance with anti-money laundering rules and US sanctions requirements.