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FISA tightens panel rules

The Finance Industry Standards Association, the secured loan industry’s self-regulatory and compliance body, has altered its application requirements for firms wishing to join its surveyors’ panel, FISAVal. The list of requirements for its panel of valuers now includes the need to have written Quality Assurance policies that cover head office and administrative procedures.

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Lehmans can’t escape event horizon

The pace and breathtaking enormity of the recent failures brought about by the seemingly insatiable appetite of the credit crunch can be likened to an event horizon.

Call to extend shorting ban

The Real Estate Investment Trust Association is calling on the Financial Services Authority to extend the short selling ban to include the commercial property and real estate sector.

IMLA hits out at extension of SLS

Peter Williams, executive director of IMLA, says the Bank of England’s decision to extend the term of its Special Liquidity Scheme is madness as it will exclude a lot of broker lenders.

Nomura buys Lehmans’ European division

Japanese brokerage Nomura has emerged as the winning bidder in an agreement to buy Lehman Brothers’ equities and investment banking arms in Europe and the Middle East.

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