‘Pensions for property’ plans slated
Parents could soon have another way to help their children get onto the property ladder under proposals to use pension savings as security for their child’s mortgage, although the so-called…
Group calls for trading ‘kill switch’
A US equity market working group has told a regulator that a ‘kill switch’ designed to limit damage from technical mishaps and improve risk controls should be considered at an…
Ex-SAC manager guilty plea on insider charges
A former SAC Capital portfolio manager is expected to plead guilty to insider trading Friday for his role in a scheme that netted more than $63m in profits by trading…
BofA in $2.4bn Merrill payout
©Bloomberg Bank of America has agreed to pay $2.4bn to settle a shareholder lawsuit alleging the company concealed information about the financial health of Merrill Lynch, the securities firm it…
Bigger is not better for banks’ investors
Who are banks run for? Their owners or their employees? What was an important question before the financial crisis has become even more important now – on the day the…
French fund manager fined £900,000
A Switzerland-based hedge fund manager has been fined £900,000 and ordered to repay €362,950 in profits for market abuse by a tribunal that found he placed improper trades that pushed…
Invesco increases share of BAE
Invesco Asset Management, the biggest investor in British defence group BAE Systems, has bought more shares in BAE in a sign that the fund manager has confidence in the company…
Fears over counterparty rules dent LSE
Shares in the London Stock Exchange fell on Friday after it told investors that new European regulations would have a significant impact on LCH.Clearnet, the clearing house that is poised…
Value of Nobles Crus wine fund questioned
Nobles Crus, one of the world’s biggest wine investment funds, values its holdings at much higher prices than those used by 10 of its rivals, the Financial Times has learnt.…
Independents win investment banking share
Independent advisory groups have continued to gain market share this year, indicating how more than five years of financial crisis have shaken up competition in the investment banking world. Such…
Geithner lays out ideas for fund reform
Tim Geithner, US Treasury secretary, has urged fellow financial supervisors to consider further reforms to the $2.6tn money market fund industry. In a letter Thursday to the Financial Stability Oversight…
FRC curbs advisory groups’ voting role
UK regulators are cracking down on the outsourcing of shareholder voting decisions to advisory groups amid fears that they have too much influence on issues such as executive pay. The…
Libor – fixing the rate
How many banks does it take to set a Libor rate? One, and up to 17 more to give it an allure of authenticity. That will change if recommendations by…
Ex-Goldman programmer rejects plea deal
A former Goldman Sachs programmer accused of stealing the bank’s proprietary trading code has rejected a no-jail plea deal with New York prosecutors. Sergey Aleynikov, the programmer freed from federal…
Fairpoint lifted by expansion beyond IVAs
Fairpoint, the consumer debt group, marked a return into the black in the first half of the year, benefiting from a move to diversify revenue streams away from its core…