Translate

FACEBLOG

FSA broke its own rules in Keydata probe, judge rules

 

High Court judge found that the Financial Services Authority (FSA) had wrongfully used privileged emails to bring its case against Keydata. A further "relief hearing" will now determine the impact of the ruling, which could de-rail the case altogether. It is the latest in a line of setbacks for the regulator, which has been investigating regulatory breaches at Keydata and millions of pounds of missing retail funds for two years. Keydata invested in "life settlement funds", which buy and sell US life insurance and generate high returns. In June 2009 the FSA applied for Keydata's closure "to protect investors", saying it was concerned about "potentially missing assets". The business was fast-tracked into administration and referred to the Serious Fraud Office (SFO). It emerged that £103m of life insurance policies managed by a Luxembourg business, SLS Capital, and sold to Keydata investors as low-risk bonds might have been "misappropriated".

0 comments:

Related Posts Plugin for WordPress, Blogger...

Subscribe via email

Enter your email address:

Delivered by FeedBurner

Video Gallery

TEN NAMES YOU ARE STILL NOT ALLOWED TO BE TOLD...TEN NAMES YOU ARE STILL NOT ALLOWED TO BE TOLD... 1. A rich public figure won a gagging order to hush up his infidelity claiming it would be ‘very distressing’ for his family if details of his affair were made public. 2. A multi-millionaire footballer won a gagging order banning the reporting of allegations of a ‘sexual liaison, encounter or relationship’ with a foreign sportswoman. 3. A top Premier League and international star – a multi-millionaire father in a long-term relationship – took out an injunction that prevented a woman going public with claims that he cheated on his wife. 4. A Premier League manager won an injunction gagging a cuckolded husband from revealing his identity and details of his affair with the man’s wife, claiming he was trying to rebuild his family life. 5. One of the Premier League’s most famous and best-paid players, this married man with children took out an injunction preventing publication of details of a ‘sexual liaison or relationship’ between him and another woman. 6. A married TV star obtained a gagging order stopping his ex-wife writing about their relationship and claims that they had a sexual affair after he remarried. 7. An international footballer playing for one of the Premier League’s biggest clubs won an injunction covering an alleged ‘blackmail plot’ over a group sex incident with three Swedish women at a hotel, filmed on a mobile phone. 8. A world-famous sportsman, not a footballer, who is married and a father was granted an injunction over any suggestions of an ‘extramarital affair’ with another woman. 9. A married TV star and comedian obtained a gagging order preventing the publication of allegations that he engaged in S&M sex and the disclosure of text messages, emails and photos relating to the allegations. 10. A high profile actor alleged to have paid for sex with Helen Wood, a prostitute who also had Wayne Rooney as a client, won a secrecy injunction.