A former Schroders worker has been sentenced to 8 years in prison for his role in a three man gang which was caught in connection with the supply of £6m worth of cocaine.

Crimes including illegal drug possession, fraud, insider dealing and theft saw seven people barred from the FCA’s register over the last year.

The Treasury has today launched an independent review of the prudential supervision of the Co-operative Bank between 2008 and 2013.

The Financial Conduct Authority has banned convicted drug criminal Paul Flowers, former chairman of Co-operative Bank PLC, from the financial services industry indefinitely.