Keydata escapes criminal charges

Criminal charges will not be brought against anyone involved in the collapse of Keydata, the financial services firm that collapsed earlier this year, according to the Serious Fraud Office. The SFO said there was “insufficient evidence” for a prosecution. An ongoing Financial Services Authority (FSA) probe into the firm’s failure could however land executives with heavy fines and a ban from working in the sector. The firm’s founder, Stewart Ford, has denied any wrongdoing.