Keydata

The bank holiday may have provided a little respite, but it was still a busy week in the world of financial advice...

The Serious Fraud Office suspects David Elias, a businessman deeply embroiled in the Keydata saga, may be on the run in South-East Asia, despite being declared dead two years ago, according to reports.

The Financial Stability Board (FSB) has launched its second probe into bonus culture and invited financial service providers to submit their views.

The Insolvency Service has said there will be no proceedings taken against Stewart Ford and the other Keydata directors.

Stewart Ford's application for a judicial review into the FSA's handling of Keydata has delayed the regulator's investigation into the investment firm, the FSA said today.

The Luxembourg court has granted Lifemark administrators a further six months to find funders for the troubled backer of Keydata bonds.

Keydata founder Stewart Ford has been granted a judicial review into the FSA's handling of the collapse of his investment firm.

Scottish Widows Investment Partnership (SWIP) contributed more than £4m last year toward compensating investors in failed investment company Keydata.

The Serious Fraud Office (SFO) has given up trying to prosecute anyone over the collapse of Keydata, as it has insufficient evidence to continue with the case, it has said.

The government has bent HMRC rules to allow investors in Lifemark and Hometrak-backed Keydata products to put an amount equal to their original investments back into an ISA and regain their tax exemptions.