UPDATE 1-UBS, Barclays raise bonuses for bankers in 2013, Goldman cuts . . .

http://uk.reuters.com/article/2014/02/12/banks-pay-idUKL5N0LH3PF20140212

Longtime SAC Capital compliance chief Steve Kessler is leaving the hedge-fund firm after nine years, according to a source familiar with the matter. . .

http://hereisthecity.com/en-gb/2014/02/15/sac-compliance-chief-steve-kessler-exits-firm/

Mark Carney has stepped into the row about bankers’ bonuses with a demand that a large chunk of the pay packages for senior staff should be deferred “for a very long time”. . .

http://www.theguardian.com/business/2014/feb/16/mark-carney-bankers-bonuses-deferred

The annuities market is not working well for consumers, a review by the Financial Conduct Authority (FCA) has found. The FCA will now use its new remit to launch a Competition Market Study to get to the heart of the issue and make recommendations that will have wider implications as to how the market operates. . .

http://www.fca.org.uk/news/fca-finds-annuity-market-not-working-for-consumers-competition-market-study-launched

Benjamin Wilson of Bournemouth, Dorset was sentenced to seven years at Southwark Crown Court today for defrauding investors of over £21m, following previous guilty pleas for fraud, forgery and operating a collective investment scheme without authorisation. . .

http://www.fca.org.uk/news/fraudster-benjamin-wilson-sentenced-to-seven-years-imprisonment