The Financial Services Authority (FSA) has boosted funds available for future criminal prosecutions in its budget for 2009-10. The regulatory body has increased its contingency fund - which includes an allowance for external legal costs if it chooses to prosecute major criminal cases - to £13.5m to act as an allowance for future prosecutions. The allocated funds comes out of the FSA's corporate services and board budget, which has seen a 67% increase on last year, from £47.2m to £79m. In 2007, the FSA launched its first criminal prosecution for insider trading against former TTP Communications general counsel Christopher McQuoid.
February 25, 2009 at 10:58 PM
1 minute read
The original version of this story was published on Legalweek
The Financial Services Authority (FSA) has boosted funds available for future criminal prosecutions in its budget for 2009-10.
The regulatory body has increased its contingency fund – which includes an allowance for external legal costs if it chooses to prosecute major criminal cases – to £13.5m to act as an allowance for future prosecutions. The allocated funds comes out of the FSA’s corporate services and board budget, which has seen a 67% increase on last year, from £47.2m to £79m.
Presented by BigVoodoo
Celebrate outstanding achievement in law firms, chambers, in-house legal departments and alternative business structures.
The African Legal Awards recognise exceptional achievement within Africa s legal community during a period of rapid change.
The premier educational and networking event for employee benefits brokers and agents.
Truly exceptional Bergen County New Jersey Law Firm is growing and seeks strong plaintiff's personal injury Attorney with 5-7 years plaintif...
Shipman is seeking an associate to join our Labor & Employment practice in our Hartford, New Haven, or Stamford office. Candidates shou...
Evergreen Trading is a media investment firm headquartered in NYC. We help brands achieve their goals by leveraging their unwanted assets to...
MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS
