FCA bans former Credit Suisse executives following US criminal convictions
The FCA has banned Andrew Pearse and Surjan Singh from the UK financial services industry. The former Credit Suisse managing directors have been banned for lacking integrity, following US convictions for arranging corrupt loans to the Republic of Mozambique.In July 2019, Mr Pearse pleaded guilty in the US
Read MoreUnambiguously bleak Bank of England forecasts pave way for spending cuts
Weak jobs market and above-target inflation will dent Reeves’s growth plans and may wipe out fiscal headroom Bank cuts interest rates to 4.5% and halves UK growth forecast Business live – latest updates With the public finances tight and Rachel Reeves having pledged to balance the books, interest
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Bank of England cuts interest rates to 4.5% amid fears over weak UK growth
Third quarter-point cut in six months takes rate to lowest level since June 2023 amid concerns over economic outlook The Bank of England has cut interest rates for the third time in six months amid concerns over weak economic growth, underscoring the risks facing the chancellor, Rachel Reeves.
Read MoreAsset Land investors asked to get in touch
We have received limited funds to compensate investors in Asset Land companies. Investors should get in touch with us by 25 March 2025. We successfully took legal action againstAsset Land companies and their directors, David Banner-Eve and Stuart Cohen, following an investigation into unlawful activity in 2012. After
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Olumide Osunkoya sentenced to 4 years for illegally operating crypto ATM network
Olumide Osunkoya, 46, was sentenced on 28 February 2025 to 4 years in prison for illegal crypto activity worth over £2.5m and associated offences. Mr Osunkoya pleaded guilty on 30 September 2024 to 5 charges.Between 30 December 2021 and 12 March 2022, Mr Osunkoya operated crypto ATMs at
Read MoreNissan-Honda $60bn merger ‘basically over’, reports claim; UK interest rate cut expected – business live
Rolling coverage of the latest economic and financial news Bank of England poised to cut interest rates amid UK economic gloom AstraZeneca has reported a jump in annual profits boosted by strong sales of its cancer, lung and immunology treatments, a week after it decided not to go
Read MoreFCA charges two individuals with multiple fraud charges
The FCA hasstartedcriminal proceedings againstKerry Nelsonand Jacqueline Stephensforalleged fraud,forgery, and money laundering. Kerry Nelson was director of both Nexus Independent Financial Advisers Limited (Nexus IFA) and Nexus Investment Managers Limited (Nexus IM). Jacqueline Stephens was business operations manager at the same firms.Ms Nelson and Ms Stephens have been
Read MoreThe Gordian knot of growth
Speech by Nikhil Rathi, chief executive, at the Association of British Insurers roundtable. Thank you, Hannah, for the invitation. I must confess to a degree of trepidation: I read your ABI Dinner speech, where you called for Alexander the Great’s sword to be raised over regulators, and for
Read MoreHelping markets thrive and managing systemic risk: the FCA’s approach to non-bank leverage
Speech by Sarah Pritchard, executive director of markets, at the Investment Association Roundtable. At this time of year, it’s almost impossible not to think about spring. Warmer weather, a bit of sun. It’s always a joy to see the world come back to life after a dull, grey
Read MoreCourt sets date for £64 million WealthTek fraud and money laundering trial
A trial has been scheduled for September 2027 at Southwark Crown Court in the criminal proceedings brought by the FCA against John Dance, the former WealthTek LLP principal partner. Mr Dance was charged in December 2024 with alleged misappropriation of £64 million of customer funds between 2014 and
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