SEC

A former J.P. Morgan investment adviser has been accused of stealing at least $20m from clients and using the money to trade on his own account and to pay off his mortgage.

A Bank of England official has said asset managers, insurers and clearing houses in UK should be subject to the same stress tests faced by banks.

Asset managers in the US may face bank-style stress tests and a ban on the use of derivatives in retail funds in the latest initiative proposed by the Securities and Exchange Commission (SEC).

Mid Caps

US futures firm MF Global Holding has been ordered to pay $1.2bn (£740m) in restitution to its customers over its collapse.

JO Hambro Investment Management (JOHIM) has created a resident non-domiciled (RND) team to cater for increasing demand for its products from international clients based in the UK.

The FBI is investigating whether insider trading took place in Heinz shares ahead of the food giant's historic deal with Warren Buffett's Berkshire Hathaway.

Barclays is at the centre of further scandal after a senior executive quit following revelations he shredded a report which said part of the bank was "out of control".

LIBOR

The New York Stock Exchange cancelled trades in shares which rose as much as 150% yesterday after Knight Capital's electronic trading system malfunctioned.