Payday loan regulators show ‘wimpish’ behaviour, says Hodge – video

The chair of the public accounts committee says those who regulate payday loans comapanies have not done enough to ensure fairness in the market    
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Nasdaq to pay $10m government fine over disruption to Facebook’s IPO

SEC levies biggest penalty ever against exchange after computer glitches delay start of heavily anticipated trading dayNasdaq has agreed to pay a $10m penalty to settle federal civil charges after regulators said its systems and decisions disrupted Facebook’s public stock offering last year.The Securities and Exchange Commission said Wednesday that the penalty is the largest […]
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Q&A with a London derivatives trader | Joris Luyendijk

Joris spoke to this trader about the complex world of derivatives and the more relaxed culture in continental Europe. Join him from 7pm in the thread’The culture is so different. We try to build relationships with clients who invest money in real companies, for the long term’. This comes from a recent interviewee who specialised […]
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HBOS: don’t forget the regulators

In the spirit of looking beyond the bankers, consider the senior regulators at the time: the banking commission’s verdict on the FSA’s supervision of HBOS was damningHow far should the fallout from the parliamentary commission’s devastating report on the failure of HBOS extend? Short answer: a lot further yet, whatever is argued in some quarters […]
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A big week for George Osborne as new regulators and a new recession loom

The chancellor has a 50-50 shot of achieving the tricky triple dip, but cutting the ribbon for the FCA should be an easier taskIs George Osborne on the verge of securing his place in history? The UK is five-sixths of the way towards pulling off a triple-dip recession (not totally on the chancellor’s watch) and […]
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Boeing 787 Dreamliner return very close, says chief executive

Troubled Boeing 787 Dreamliner jet fleet, grounded since January after battery fires, successfully completes test flightsThe chief executive of Boeing has said the company was very close to getting its troubled 787 Dreamliner jet back into the skies.The world’s most advanced passenger plane has been grounded since January after battery fires on two of its […]
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Jeremy Hunt’s dangerous belief in a single ‘truth’ about hospitals | Roger Taylor

The government’s response to the Mid Staffs report addresses regulators first and patients second. This has to be reversedImagine if you lived in a world in which there was a single metric that defined the “truth” about the “good quality” of a car. Imagine if the career progression of car designers depended on how well […]
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Banker denies responsibility for JP Morgan losses

Ina Drew blames deception by London team for ‘London Whale’ trading incident, which saw company lose £4bnIna Drew, the former top banker who oversaw JP Morgan’s London Whale trading losses, insisted that she was not to blame for the $6.2bn (£4.1bn) black hole that ended her 30-year career.During hostile questioning in a US Senate hearing, […]
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Senate investigation finds JP Morgan hid mistakes as trade losses grew

Bank executives to testify Friday after report claims company misled public during $6.2bn London Whale trading debacleJP Morgan’s $6.2bn London Whale trading debacle was born out of secretive trades and creative bookkeeping as the bank attempted to limit losses using a practice that one regulator called “make believe voodoo magic”, a Senate investigation has concluded.The […]
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Ernst & Young to pay US regulators $123m over tax avoidance schemes

E&Y’s deal with a US district attorney ensures the firm will not face prosecution and brings a long-drawn tax scandal to an end Ernst & Young has agreed to pay $ 123m (£82m) in a settlement with criminal prosecutors in the US, admitting that some of its most senior tax partners had been involved in […]
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