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Britain's financial watchdog has told banks they are failing to meet standards on selling complex investment products and may have to compensate some customers, signaling that enforcement action could be on the cards.

Europe's leading human right's body, the Council of Europe, faulted France on Wednesday for failing to impose a clear ban on slapping and all other forms of corporal punishment of children.

France's highest appeals court paved the way on Wednesday for the extradition to either Russia or Ukraine of jailed Kazakh tycoon Mukhtar Ablyazov, accused of embezzling up to $6 billion from his former bank BTA.