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Treasury committee chairman demands HBOS audit investigation

Treasury committee chairman Andrew Tyrie has demanded an investigation into KPMG’s role as the auditor for collapsed bank HBOS. During the preparation of a report that last month slammed the FSA for its failings in investigating the bank, the Financial Reporting Council was invited to probe KPMG’s work, but declined to do so. Tyrie describes […]

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Investment Association under fire for axing regulatory unit

The Investment Association’s decision to disband its regulatory affairs unit has cast serious doubt over the trade body’s ability to influence policy at the highest level. The IA has scrapped its regulatory affairs unit in an attempt to cut costs after three of its biggest members announced their decision to quit the trade body. IA […]

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Govt extends Lloyds share sale

The Government has extended the period during which it will offload its stake in Lloyds, the part-nationalised bank, by six months. The announcement means the Treasury will continue selling shares in Lloyds to institutional investors until 30 June 2016, before opening up to retail investors. The plan could be stopped before this date to ensure […]

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FCA bans advice boss over £2m Ucis losses

The FCA has banned the director of an advice firm after he transferred over £2m of clients’ funds into inappropriate investments. The regulator says Quintillion Asset Management director Simon Silva-Peake also caused or allowed a further £659,270 of client money to be misappropriated. Money Marketing first flagged investor concerns about Quintillion in March 2013. Silva-Peake […]

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