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The Financial Conduct Authority (FCA), the UK’s City watchdog, has fined Bank of New York Mellon (BNY) £126 million for failing to keep customer money safe during the financial crisis. The fine was levied on the bank’s London branch and on Bank of New York Mellon International for breaches that

Phil Anderson A north-east accountants Phil Anderson Financial Services (PAFS) has pledged to boost the pay of its staff after announcing its support for the growing “living wage” campaign.

Begbies Traynor Group has announced the appointments of Thomas McKay as partner in its business rescue and recovery division in Scotland and Simon Watson as partner in the specialist consulting division, which operates under the BTG Financial Consulting brand. New partners Simon Watson (left) and Th

Edinburgh-based Lloyds Banking Group has committed to supporting key UK infrastructure projects within the Government’s National Infrastructure Plan over the next three years. The Group will provide financial assistance to infrastructure initiatives that have a total project value of £30bn by the

Scottish football clubs have seen a dramatic improvement in their financial health according to Begbies Traynor’s annual financial fitness test for the sport. In just the second season in which the accounts of football clubs in the English Premier League and Football League have come under the scr

Glasgow-based Clydesdale Bankhas announced that Ian Smith, its chief financial officer, (CFO) has been appointed as an executive director.

Dame Debbie Crosbie, chief executive of Nationwide Building Society, will become the first woman to receive the Chartered Banker Institute’s Lifetime Achievement Award. She is only the fifth recipient of the award, which is conferred in exceptional circumstances on individuals whose careers ha

The Scottish Government is exploring new ways to privately finance major public infrastructure projects, with the Scottish Futures Trust leading work on alternative funding models as pressure on public finances constrains capital spending. The trust is working with the market on a revised approach t

Scottish Building Society has become the first UK lender to go live on a new artificial intelligence platform that lets it run generative AI without customer data leaving its own environment, according to the financial technology provider SBS. The society, a long-standing SBS client, runs the SBS AI

Chancellor John Healey is set to increase taxes on Britain’s banks to help plug a hole in the UK Government’s finances caused by rising borrowing costs. Mr Healey is considering options for raising more revenue from Britain’s financial institutions ahead of the Budget on 28 October

Benson Accountants has appointed Dan Thompson as managing associate. Mr Thompson is expected to bring significant corporate, commercial and financial leadership experience to the growing accountancy practice. The appointment forms part of Benson Accountants' wider strategy to strengthen its leadersh

Bank of America has been fined $1.2bn for failing to detect potential money launder and other illegal activity ahead of its quarter three results. The US Treasury Department said the banking giant failed to report more than $5bn in suspicious activity to the government, claiming that $1bn of which p

Standard Life has announced Siobhan Boylan, Aberdeen Group's, nominated non-executive director, will cease being on its board following Aberdeen's stake sale. Boylan who is Aberdeen Group's chief financial officer served on the board until the asset manager reduced its stake in Standard Life on Octo

The UK Government has launched a consultation on rewarding whistleblowers who report economic crime such as fraud and bribery. The Government’s move would bring Britain closer to the US model, where financial incentives are used to encourage whistleblowers who provide evidence that helps uncov