Business

An Australian foreign exchange trader who used confidential economic data to make dozens of illegal trades was sentenced to seven years and three months in jail on Tuesday, with a judge declaring it the country's worst-ever case of insider trading.

Senior bankers will be presumed guilty until proven innocent under strict new rules proposed by British regulators seeking to hold individuals accountable for bank failures.

The chief executive of Andorran lender Banca Privada d'Andorra (BPA), who was suspended along with the rest of the board last week, was arrested overnight on suspicion of money laundering, a police spokesman from the principality said on Saturday.