Two former Bear Stearns Cos hedge fund managers were acquitted of fraud charges on Tuesday, a setback to government prosecutors that could make them less aggressive in trying to root out Wall Street wrongdoing.
Pension funds of FTSE 100 and FTSE 350 companies have swung into deficit over the past year, and their deficits widened by 27 cent in the month of October alone, as the negative effect of falling bond yields more than outweighed the benefits of the recent surge in equities.
The FSA said that a review of structured products backed by Lehman Brothers had found the sales advice was ??unsuitable? or ??unclear? in more than two-thirds of cases.