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Two men plead guilty to insider trading charges
Manjeet Mohal and Reshim Birk pleaded guilty to insider
dealing at the Central Criminal Court on 30 November and will be sentenced on
13 January.Mark Steward, head of enforcement at the Financial Conduct Authority,
which brought the case, said,..
Online Published Date:
12 January 2017
Appeared in issue:
Vol 29 No 5 - 01 February 2017
Ex BlackRock manager receives one year’s jail-time for insider dealing
Mark Lyttleton, a former BlackRock equity portfolio manager, was sentenced on 21 December 2016 to 12 months’ imprisonment on two counts of insider dealing. The sentence was reduced from 18 months on account of him pleading guilty on 2..
Online Published Date:
12 January 2017
Appeared in issue:
Vol 29 No 5 - 01 February 2017
Banks deemed not liable for push-payment scams, as ‘super-complaint’ falters
There was not enough evidence to support a change in liability that would require banks to reimburse victims of authorised push payment (APP) scams, the Payment Systems Regulator has determined. But it did say it will consider whether to propose..
Online Published Date:
12 January 2017
Appeared in issue:
Vol 29 No 5 - 01 February 2017
FCA decides to ban and fine director over skewed advice
The Financial Conduct Authority has given notice of its plan to ban and fine Alistair Burns £233,600 over his firm’s pensions advice and handling of conflicts of interest. The chief executive and director of TailorMade Independent Ltd has..
Online Published Date:
12 January 2017
Appeared in issue:
Vol 29 No 5 - 01 February 2017
New rules seek to protect retail CFD customers amid high loss rates
With more retail customers opening and trading contract for difference products, the Financial Conduct Authority wants to bolster their protections. Indeed, there is good reason – scrutiny of a sample of client accounts for CFD firms by the..
Online Published Date:
12 January 2017
Appeared in issue:
Vol 29 No 5 - 01 February 2017
FSCS funding consultation envisages expanded PII cover
A consultation on funding of the Financial Services Compensation Scheme asks for views on whether more comprehensive Professional Indemnity Insurance is needed to reduce levels of FSCS claims. PII was intended to play a greater role for personal..
Online Published Date:
12 January 2017
Appeared in issue:
Vol 29 No 5 - 01 February 2017
Firms on notice to review fair treatment of closed-book customers
Life insurers who have closed books must review their business practices in light of the Financial Conduct Authority’s finalised guidance for the fair treatment of closed-book customers and make any necessary changes by 9 March 2017. The..
Online Published Date:
12 January 2017
Appeared in issue:
Vol 29 No 5 - 01 February 2017