Foreign exchange dealers: Fraud Office steps in

Article Abstract:

The UK Serious Fraud Office (SFO) is investigating two foreign exchange traders which carried out deals for private clients. Pagoda Foreign Exchange previously ran a currency dealer which has sought authorisation from the Securities and Futures Authority to carry on forex trading with private investor clients. The company was owned by Pagoda Group, which went into liquidation. The Department of Trade and Industry has referred Pagoda and Cathay and West, another forex dealer, which has been closed down, to the SFO.

Functions related to deposit banking, Foreign Exchange Dealers, Commodity Contracts Dealing, Laws, regulations and rules, Foreign exchange market, Cathay and West, Pagoda Foreign Exchange

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How the pyramids are built

Article Abstract:

Pyramid investment schemes can only provide returns if new sellers can be found. One type of scheme pays initial investors from new subscribers. Another type uses agents for a product for which demand exists. The top components of the pyramid receive part of the commissions, but do not sell. Three pyramid schemes in the UK in 1995 involved losses of around 10 million pounds sterling for 17,000 investors. The South Sea Bubble was an example of a pyramid scheme in the 18th century.

Economic aspects, History, Pyramid schemes

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Pickings are poor, but perseverance pays: What's an income-seeking investor to do when interest rates keep falling?

Article Abstract:

Income-seekers have been adversely affected by the further cut in base rates to 6%, and it is important to seek out the best income options. Bank or building society savings accounts are competitive, with some deposit account offering upwards of 7% a year on amounts over 10,000 pounds sterling. Other options are cash unit trusts and Tessas, which are low-risk, gilts, which are a medium-risk investment and equities which are high-risk investments.

Personal Investing, Management, Evaluation, Personal finance

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