May

Besso fined £20,000

Besso, the London market broker, was fined £20,000 for failing to apply for approval of a manager who had previous convictions for fraud. Police were brought in by the broker to investigate allegations of fraud after irregularities were discovered in some of its client's funds accounts. Tim Barker, who ran the alternative risk transfer division, was sacked by the broker for gross misconduct.

- HBOS employs third boss

Halifax Bank of Scotland General Insurance (HBOS) had to