RBS fined £14.5m over mortgage advice
State-backed Royal Bank of Scotland has been fined £14.5m after the City regulator found "serious failings" in its advice to mortgage customers. The Financial Conduct Authority (FCA) said only two of the 164 sales it reviewed between June 2011 and March 2013 were considered to meet the standard required overall in a sales process.
India Blocks New Finmeccanica Defence Contracts in Ongoing Bribery Probe
Indian public officials have imposed a partial ban on Italian defence industry giant Finmeccanica, supplier of a large number of weapon systems, radars and ammunition to the country’s armed forces. The government is awaiting a verdict on the VVIP helicopter case involving Finmeccanica’s UK subsidiary AgustaWestland, which saw its 556-million-euro contract for the helicopters scrapped because of bribery allegations.
California Senate seeks to double financial penalty in bribery cases
With two of its members accused of accepting payments for favors, the California Senate on Tuesday approved a bill that would double the restitution fines for legislators and city council members convicted of accepting a bribe in exchange for influence on official action.
ShelterBox founder Tom Henderson charged with fraud
Tom Henderson, 63, from Helston in Cornwall, has been charged with three counts of fraud by abuse of position.
He has also been charged with the attempted theft of property.