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FSA to investigate RBS and HBOS

The FSA is to launch a formal investigation into the events that led to the collapse of the Royal Bank of Scotland and HBOS, according to press reports.

The Guardian says the investigation will examine the role of executives and board directors, as well as reviewing the banks’ internal controls.

It says FSA supervisory officials will examine whether the banks’ boards and shareholders received enough information, as well as the performance of directors before the rights issues undertaken by HBOS and RBS earlier last year.

The FSA has reportedly opened tender to major accountancy firms to assist with the enquiry, which is expected to commence in the next few weeks.

The FSA refused to comment on the investigation.


Light in the East

It is to be expected that markets run out of puff during a holiday period. The whole basis of sell in May and go away is predicated on wealthy landowners, who owned the bulk of shares in days of yore, closing up their London houses and retiring to the country for the season. Easter may not be quite such a vacational imperative but the streets of the City are undoubtedly quieter and it is not just the recession.

Alderson takes helm at T Rowe Price

Chris Alderson has taken over the role of president and chief executive officer of T Rowe Price International (TRPI) after the retirement of David Warren. Alderson is responsible for the firm’s investment management activities outside America, where it is based. He has headed the group’s global emerging markets equity strategies since 1997. Gonzalo Pangaro will […]

UK: mid-year review and outlook

By Mark Martin, manager of the Neptune UK Mid Cap Fund, and Scott MacLennan, manager of the Neptune UK Opportunities Fund H1 2014• Equity markets continued to show strength: despite a strong rally in 2013 driven by a market-wide re-rating, equity markets continued to generate positive returns for investors. Economic activity continued to be stimulated […]


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