Co-operative Bank could face fines from regulators – The Guardian

Posted June 24th, 2015 in banking, financial regulation, fines, news by sally

‘The scandal which enveloped the Co-operative Bank was reawakened on Tuesday when the bank revealed it was facing fines from City regulators over the events that led to its near collapse two years ago.’

Full story

The Guardian, 23rd June 2015

Source: www.guardian.co.uk

Comments Off on Co-operative Bank could face fines from regulators – The Guardian

Record PPI fine for Lloyds knocks 12% off Horta-Osório’s bonus – The Guardian

‘Lloyds Banking Group has docked £350,000 from the bonus of its boss António Horta-Osório after being hit with a £117m fine for unacceptable handling of compensation claims for payment protection insurance.’

Full story

The Guardian, 5th June 2015

Source: www.guardian.co.uk

Comments Off on Record PPI fine for Lloyds knocks 12% off Horta-Osório’s bonus – The Guardian

UK Immigration: illegal working and EU reform – Halsbury’s Law Exchange

Posted June 4th, 2015 in appeals, banking, bills, deportation, employment, immigration, landlord & tenant, news by sally

‘The Queen’s speech, which announces the Government’s agenda for the next five years, would not be the same without some proposals on immigration reform. We were not let down and the plan of attack will be a new Immigration Bill which will focus on illegal workers, overstayers and rogue employers.’

Full story

Halsbury’s Law Exchange, 3rd June 2015

Source: www.halsburyslawexchange.co.uk

Comments Off on UK Immigration: illegal working and EU reform – Halsbury’s Law Exchange

Bank of Beirut SAL and another v HRH Prince Adel El-Hashemite and another – WLR Daily

Posted June 3rd, 2015 in banking, fraud, law reports, partnerships, registrars by sally

Bank of Beirut SAL and another v HRH Prince Adel El-Hashemite and another[2015] EWHC 1451 (Ch); [2015] WLR (D) 230

‘In circumstances where the Registrar of Companies of England and Wales had acted entirely bona fide, although mistakenly, in registering partnerships and giving certificates, the plain wording of section 8C of the Limited Partnerships Act 1907 required those certificates to have conclusive effect even though the mistake was procured by the fraud of the applicant.’

WLR Daily, 22nd May 2015

Source: www.iclr.co.uk

Comments Off on Bank of Beirut SAL and another v HRH Prince Adel El-Hashemite and another – WLR Daily

Macris v Financial Conduct Authority – WLR Daily

Macris v Financial Conduct Authority [2015] EWCA Civ 490; [2015] WLR (D) 219

‘When determining whether, for the purposes of section 393 of the Financial Services and Markets Act 2000, “matters” in a notice issued by the Financial Conduct Authority as against a bank had “identified” a person who was not directly named, a simple objective test was to be applied.’

WLR Daily, 19th May 2015

Source: www.iclr.co.uk

Comments Off on Macris v Financial Conduct Authority – WLR Daily

Solicitor jailed for role in £4.3m land-banking scam – Legal Futures

‘A solicitor has been jailed for five and a half years for his role in a £4.3m land-banking scam.’

Full story

Legal Futures, 3rd June 2015

Source: www.legalfutures.co.uk

Comments Off on Solicitor jailed for role in £4.3m land-banking scam – Legal Futures

Banks face bigger PPI mis-selling bill as regulator considers compensation rules – The Guardian

‘Banks could face a bigger bill for mis-selling payment protection insurance after the City regulator said it was considering new rules on how customers should be compensated.’

Full story

The Guardian, 27th May 2015

Source: www.guardian.co.uk

Comments Off on Banks face bigger PPI mis-selling bill as regulator considers compensation rules – The Guardian

In re Lehman Bros International (Europe) (in administration) (No 4) – WLR Daily

Posted May 21st, 2015 in appeals, banking, insolvency, law reports by sally

In re Lehman Bros International (Europe) (in administration) (No 4) [2015] EWCA Civ 485; [2015] WLR (D) 218

‘The Court of Appeal made rulings following determination of issues raised in the administration of three companies as to the potential liability of two members in the group for the liabilities of the principal trading company, an unlimited company, and in particular its subordinated liabilities, and the relationship between their liability, if any, as members and their claims as creditors.’

WLR Daily, 14th May 2015

Source: www.iclr.co.uk

Comments Off on In re Lehman Bros International (Europe) (in administration) (No 4) – WLR Daily

Bank Mellat’s $4bn A1P1 claim gathers pace – UK Human Rights Blog

Posted May 11th, 2015 in banking, damages, human rights, news, proportionality, terrorism by sally

‘Two recent judgments underscoring the potential high cost of the UK getting it wrong in its dealing with businesses and hence being liable to pay damages under the Human Rights Act for breach of its A1P1 obligations. Regular readers will know that A1P1 is the ECHR right to peaceful enjoyment of property.’
Full story

UK Human Rights Blog, 9th May 2015

Source: www.ukhumanrightsblog.com

Comments Off on Bank Mellat’s $4bn A1P1 claim gathers pace – UK Human Rights Blog

Late applications to amend come a cropper in High Court – Litigation Futures

Posted April 30th, 2015 in amendments, banking, case management, delay, evidence, litigants in person, news by sally

‘The High Court has condemned as “utterly inappropriate” a bid by one of the big banks to amend its defence and serve a new witness statement on a litigant in person on the eve of trial.’
Full story

Litigation Futures, 29th April 2015

Source: www.litigationfutures.com

Comments Off on Late applications to amend come a cropper in High Court – Litigation Futures

New Payment Systems Regulator issues Policy Statement – Zenith Chambers

Posted April 2nd, 2015 in banking, competition, financial regulation, news by sally

‘On 25 March 2015, and a week before its operational launch on 1 April 2015 the Payment Systems Regulator (PSR) issued a policy statement (PSR PS15/1). This sets out the new regulatory framework for payment systems in the UK. The PSR is an authority without peers domestically and internationally.Businesses who have not previously been subject to regulatory scrutiny including interbank operators, payment service providers and infrastructure providers will now be subject to industry-wide economic regulation.’

Full story (PDF)

Zenith Chambers, 27th March 2015

Source: www.zenithchambers.co.uk

Comments Off on New Payment Systems Regulator issues Policy Statement – Zenith Chambers

Deutsche Bank AG London Branch v Petromena ASA (in bankruptcy) – WLR Daily

Deutsche Bank AG London Branch v Petromena ASA (in bankruptcy) [2015] EWCA Civ 226; [2015] WLR (D) 133

‘Where a party, which entered an acknowledgment of service to proceedings and made an unsuccessful challenge against the jurisdiction of the English court to hear the proceedings, had entered a further acknowledgment of service in its application for permission to appeal against the court’s decision to refuse its challenge, that party would have submitted to the jurisdiction of the English court, within article 24 of the Lugano Convention on Jurisdiction and the Recognition and Enforcement of Judgments in Civil and Commercial Matters (2007), because of the provisions of CPR r 11(8), unless it had first applied to the court for an extension of time to file the further acknowledgment of service sufficient to enable the application for permission to appeal, or the appeal if permission was granted, to be determined.’

WLR Daily, 18th March 2015

Source: www.iclr.co.uk

Comments Off on Deutsche Bank AG London Branch v Petromena ASA (in bankruptcy) – WLR Daily

Companies aiding tax evaders will be criminally liable – The Guardian

Posted March 20th, 2015 in accountants, banking, news, strict liability, tax evasion by tracey

‘Banks and accountants that aid tax evasion will face criminal penalties under plans unveiled by the government. A new offence of corporate failure to prevent evasion is being created to address those who assist dodging. Such offenders could also be “named and shamed” alongside the evaders themselves.’

Full story

The Guardian, 19th March 2015

Source: www.guardian.co.uk

Comments Off on Companies aiding tax evaders will be criminally liable – The Guardian

Bitcoin: Government to regulate cryptocurrency to avoid money laundering, says Treasury – The Independent

Posted March 19th, 2015 in banking, consultations, money laundering, news, reports by sally

‘The Government is to regulate bitcoin exchanges to stop their use as money laundering hubs, the Treasury said today.’

Full story

The Independent, 18th March 2015

Source: www.independent.co.uk

Comments Off on Bitcoin: Government to regulate cryptocurrency to avoid money laundering, says Treasury – The Independent

Tougher standards for UK senior bankers will come into force from March 2016 – OUT-LAW.com

‘A new regulatory regime, designed to make it easier for senior managers of UK banks and building societies to be held accountable for failings in their area of responsibility will come into force in one year’s time, the government has confirmed.’

Full story

OUT-LAW.com, 6th March 2015

Source: www.out-law.com

Comments Off on Tougher standards for UK senior bankers will come into force from March 2016 – OUT-LAW.com

JSC Mezhdunarodniy Promyshlenniy Bank and another v Pugachev – WLR Daily

JSC Mezhdunarodniy Promyshlenniy Bank and another v Pugachev [2015] EWCA Civ 139; [2015] WLR (D) 94

‘Under the terms of a freezing order the court had jurisdiction to order a member of a class of beneficiaries under a discretionary trust to make disclosure of the details of the trust and the trust assets.’

WLR Daily, 27th February 2015

Source: www.iclr.co.uk

Comments Off on JSC Mezhdunarodniy Promyshlenniy Bank and another v Pugachev – WLR Daily

Bank of England to boost watchdog role after failing to spot forex rigging – The Guardian

Posted February 27th, 2015 in banking, financial regulation, news by tracey

‘The Bank of England plans to beef up its watchdog role after it failed to spot one of the biggest scandals in the City’s recent history. The central bank said a “root-and-branch” review of its market intelligence operations had found that some staff were unfamiliar with the way City firms operated.’

Full story

The Guardian, 26th February 2015

Source: www.guardian.co.uk

Comments Off on Bank of England to boost watchdog role after failing to spot forex rigging – The Guardian

JSC Bank of Moscow v Kekhman and others – WLR Daily

Posted February 26th, 2015 in banking, bankruptcy, domicile, insolvency, law reports by sally

JSC Bank of Moscow v Kekhman and others [2015] EWHC 396 (Ch); [2015] WLR (D) 82

‘When considering whether to exercise its discretion to make a bankruptcy order on a debtor’s petition, the court was to have regard to whether the petitioner could show (1) that he had a sufficiently close connection with England and Wales; (2) that there was a reasonable possibility of benefit resulting from the making of a bankruptcy order; and (3) that one or more persons interested in the distribution of assets were persons over whom the English court could exercise jurisdiction.’

WLR Daily, 20th February 2015

Source: www.iclr.co.uk

Comments Off on JSC Bank of Moscow v Kekhman and others – WLR Daily

FCA to conduct first review of competition in UK investment and corporate banking – OUT-LAW.com

Posted February 24th, 2015 in banking, competition, conflict of interest, financial regulation, news by sally

‘The UK’s Financial Conduct Authority (FCA) is to formally review competition between banks that provide investment and corporate banking services after finding “unanswered questions about potential conflicts of interest and value for money”, it has announced.’

Full story

OUT-LAW.com, 23rd February 2015

Source: www.out-law.com

Comments Off on FCA to conduct first review of competition in UK investment and corporate banking – OUT-LAW.com

PPI problems still the cause of most complaints to financial ombudsman – The Guardian

Posted February 24th, 2015 in banking, complaints, financial regulation, insurance, news, reports by sally

‘Complaints about payment protection insurance (PPI) are still making up two-thirds of all the cases being dealt with by the financial ombudsman, which named Lloyds and Barclays as Britain’s two “most complained-about” financial firms.’

Full story

The Guardian, 24th February 2016

Source: www.guardian.co.uk

Comments Off on PPI problems still the cause of most complaints to financial ombudsman – The Guardian