Under the 2000 Financial Services and Markets Act, the watchdog has the power to have suspects detained, though it has not made use of this yet.
But it has now reached agreement with the City of London police, who will, at the request of the FSA, detain individuals suspected of crimes in three broad areas: money laundering, fraud and criminal market abuse, the BBC Online reported.
The City of London, which has the biggest fraud squad in the UK, has welcomed the new arrangement
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements