Financial Services Authority May 29, 2012 The Financial Services Authority has handed down its largest ever fine for an individual in a case not involving market abuse. Alberto Micalizzi, CEO and Director of Dynamic Decisions Capital Management Limited, a London-based hedge fund management company, was sanctioned for concealing losses suffered by the fund by using artificial gains. The FSA has also cancelled the company's authorisation to conduct regulated business. Both Micalizzi and the company intend to challenge the FSA's ruling before the Upper Tribunal.

Financial Services Authority May 17, 2012 The Financial Services Authority and the Bank of England have published their initial views on how the Prudential Regulation Authority will decide which firms will be designated by it (as opposed to being designated by the Financial Conduct Authority). In broad terms, a firm will be designated for supervision by the Prudential Regulation Authority if it (i) has, or has applied for, permission to deal in investments as principal and (ii) has, or would have if authorised, a minimum capital of EUR 730,000.

Financial Times April 22, 2012 The FSA's attempts to punish senior managers for failings occurring under their supervision has suffered a setback in its defeat in a case involving UBS. The FSA had sought to fine the former chief executive of UBS's UK wealth management division pound;100,000 for misconduct relating to compliance problems in the business, although these issues did not involve the chief executive himself. The tribunal ruled that the chief executive should be cleared of the misconduct allegations as he had taken steps to strengthen UBS's systems and controls.

Financial Services Authority May 16, 2012 The FSA has determined that all transactions including the combined execution of multiple legs should be reported to the FSA, with each reportable leg being an individual transaction to the FSA. This guidance will take effect from August 15, 2012.

The CFTC today announced the filing of a federal civil enforcement action charging defendants Ronnie Gene Wilson (Wilson) and Atlantic Bullion; Coin, Inc. (ABC), both of Easley, S.C., with fraud in connection with operating a $90 million Ponzi scheme, in violation of the Commodity Exchange Act (CEA) and CFTC regulations. View release in full here(links externally to CFTC website).