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Financial Services Authority (FSA)

FSA bans second Morgan Stanley trader

The UK Financial Services Authority (FSA) has banned David Redmond after he put on a large unauthorised oil futures trade while on Morgan Stanley's freight desk in London in February last year.

Morgan Stanley fined over $120m mismark

The UK Financial Services Authority has fined Morgan Stanley £1.4 million for failing to supervise one of its prop traders, allowing him to mismark a portfolio of illiquid credit products by $120 million last year.

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A vicious circle

Regulators are looking at how best to ensure capital adequacy rules are not pro-cyclical. The Basel Committee has proposed changes to its market risk rules, but further, counter-cyclical changes have been suggested. What is being considered and what are…

FSA plans new capital formula for banks

The UK Financial Services Authority (FSA)'s chairman Adair Turner has outlined proposed new capital rules for UK banks, which would see minimum capital levels determined based on balance sheet growth or full-cycle loan book risk.

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