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Top 10 FSA fines

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Insurance group Prudential has been fined £30m for failing to tell the Financial Services Authority (FSA) about its attempted takeover of the Asian arm of US insurer AIG.

Nomura and RBS Hires

For Hire

Royal Bank of Scotland has hired Stephen Chronert, the former head of high-yield bond and leveraged loan sales in the U.S. at UBS, for a similar role at Britain’s biggest government-owned lender.

Facebook Is Quickly Becoming 'Spambook': Analyst

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Facebook now looks more like "Spambook" and its advertising looks less promising than investors originally thought, said Richard Greenfield, media and entertainment analyst at BTIG Partners. Greenfield's firm has a "sell" rating on Facebook with a $22 price target.



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Nomura sees profits triple

Nomura's first-quarter profit more than tripled as a surge in brokerage commissions and investment-banking fees outweighed a drop in trading income.


Ex-Merrill Lynch powerhouse broker banned from securities

A former powerhouse investment broker, who managed $1.3bn for Merrill Lynch before he was fired, has been permanently banned from the securities industry for charging his customers excessive fees and making unauthorized trades, the industry’s regulator said Tuesday.