LONDON - Tom Hayes, a 35-year-old former trader for Citigroup and UBS, was the “ringmaster” in a concerted effort to manipulate global benchmark interest rates to make as much money as he could, prosecutors said on Tuesday in a London court.
The Royal Bank of Scotland appears to be on the verge of bidding for parts of a �13bn (�20bn) state-owned mortgage portfolio put up for sale by George Osborne.
The Financial Conduct Authority's(FCA) income from fines it imposes on financial services companies is set to dip on last year's total, despite record penalties for Barclays and Deutsche Bank in recent months.
Shoppers walk past shops on the main shopping street in Bristol, England. Consumer confidence is at 2006 levels. Photograph: Matt Cardy/Getty Images.
Stewart Ford, the founder of the insolvent investment firm Keydata who was slapped with a record-breaking �75m fine, has hit back with a �700m High Court claim against the Financial Conduct Authority (FCA) and the accountants PwC.