The FSA has banned Manchester mortgage broker Arthur Kirk, trading as Grosvenor Mortgage Advice Centre, for failing to establish proper systems and controls at his business.

In the first criminal prosecution of its kind by the FSA, a mortgage broker has been fined £6,000 for failing to notify the regulator about a change in control at a regulated firm.

House prices rose for the second month in a row, according to the Halifax House Price Index.

The FSA has cancelled the permission of Peter David Alexander Crane, trading as David Crane Mortgage Broker, for unpaid fees.

The chief executive of Goldman Sachs yesterday called the mounting public fury over bankers' pay "understandable and appropriate", reports the Independent.

Two of America's most noted financial commentators have argued the recovery of the US economy is not a given, despite the recent uptick in sentiment.

Confidence in the property market is growing, with more people buying properties rather than remortgaging their existing home, according to figures from moneysupermarket.com.

Mortgage schemes available to intermediaries have dropped by 78% compared to the end of August 2008, according to monthly figures from Mortgage Brain.

The disgraced financier Bernie Madoff has received a $13,800 (£8,500) tax rebate, angering clients who lost billions in the biggest Ponzi scheme in Wall Street history.

One quarter of pensioners are missing out on benefits, which could boost their income by an average of £232.