SFO Probe Into Mini-Bond Scandal Leads To 5th Arrest
The founder of a marketing company that urged investors to buy into London Capital & Finance PLC has been arrested as an investigation by the Serious Fraud Office into the failed mini-bond firm continues.
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Hargreaves Lansdown has revealed that nearly a quarter of its clients have more than £1.6 billion ($2 billion) combined trapped in Neil Woodford’s suspended equity fund, claiming in a letter to lawmakers published Wednesday it first raised concerns about the fund’s exposure to unlisted assets 18 months ago.
A London judge on Tuesday refused to revive a major Icelandic bank's efforts to bankrupt a defunct High Street fashion designer, casting doubt on the lender's efforts to undo the sale of two luxury sport cars as it tries to claw back a £1.3 million ($1.64 million) loan.
A company director who submitted fraudulent insurance claims for stolen agricultural equipment worth almost £35,000 ($44,000) has been handed a 12-year bankruptcy restrictions order, a government agency said Wednesday.
Financial advisers are providing “unacceptable” advice to retirement savers about transferring their investments out of pensions worth a combined £83 billion ($105 billion), the City regulator said on Wednesday as it outlined plans to crack down on poor guidance.
Britain's financial watchdog confirmed Tuesday that it has opened an investigation into the events surrounding the suspension of Neil Woodford’s flagship fund, which has prevented investors from accessing their accounts for more than two weeks.
Four pharmaceutical companies broke U.K. competition law when they agreed to fix the quantities and prices of the supply of an antidepressant drug, which caused the National Health Service's spending on the tablets to peak to £38 million ($47.7 million), Britain's antitrust regulator said Tuesday.
Old Mutual said Tuesday that it has sacked its chief executive after he was unable to provide the financial company with an “acceptable explanation” for a conflict of interest over an investment group that he founded.
Prosecutors in Frankfurt said they have searched three sites in the German city in connection with eight individuals accused of wrongdoing in a probe into an extensive tax evasion scheme that has dragged in Deutsche Bank, one of the country's biggest lenders.