‘The City trader jailed for Libor rigging in 2015 has said he believes he was convicted during a “morality trial” of bankers’ conduct, as he concluded his fight to clear his name at the UK’s highest court.’
The Guardian, 27th March 2025
Source: www.theguardian.com
‘In One Savings Bank plc v Catherine Waller-Edwards,1 the Court of Appeal considered – for the first time – whether banks are put on constructive notice to potential undue influence in joint benefit remortgage/suretyship hybrid transactions. At a time where there is an increasing awareness of economic abuse as a form of domestic abuse,2 this appeal offered an important opportunity to reassess banks’ responsibilities in assisting potential victim-survivors. Unfortunately, that opportunity was not seized. In this case comment, I set out the negative impacts the Court of Appeal judgment could have on victim-survivors of economic abuse going forward, and how these concerns could – since this case has now been given leave to appeal – be addressed by the Supreme Court.’
Legal Studies, 7th February 2025
Source: www.cambridge.org
‘The City’s top two regulators have said they will not bring in new diversity and inclusion rules for financial firms because they want to avoid imposing extra “regulatory burdens” and costs, in the latest sign of a retreat from efforts to help underrepresented groups.’
The Guardian, 12th March 2025
Source: www.theguardian.com
‘A law firm and two of its partners have been fined nearly £50,000 between them for allowing two wealthy clients to use its client account as a banking facility.’
Legal Futures, 10th March 2025
Source: www.legalfutures.co.uk
‘Four banks have been fined more than £100 million after traders shared sensitive information with each other about the British Government debt they were buying and selling.’
The Independent, 21st February 2025
Source: www.independent.co.uk
‘Proposals by the UK’s Financial Conduct Authority will directly affect the way in which e-money firms handle customer funds prior to and during an insolvency process.’
OUT-LAW.com, 4th December 2024
Source: www.pinsentmasons.com
‘The groundbreaking collective action brought against Mastercard has settled, subject to approval by the Competition Appeal Tribunal (CAT), it was announced yesterday.’
Legal Futures, 4th November 2024
Source: www.legalfutures.co.uk
‘The UK’s data protection regulator has asked banks, telecommunications providers and digital platforms to share personal information responsibly to protect their customers from scams and fraud, and clarified that data protection law is not an excuse for failing to do so.’
OUT-LAW.com, 26th November 2024
Source: www.pinsentmasons.com
‘The Court of Appeal has today given judgment in a landmark case addressing the scope of the Upper Tribunal’s jurisdiction in financial services cases and the power of the FCA to impose redress requirements on individual firms. The Court allowed the FCA’s appeal and dismissed the Respondent’s cross-appeal.’
Blackstone Chambers, 2nd October 2024
Source: www.blackstonechambers.com
‘Metro Bank has been fined nearly £17m by the UK’s financial watchdog for failings in its money-laundering controls over four years, in a fresh blow to the lender a year on from its near-collapse.’
The Guardian, 12th November 2024
Source: www.theguardian.com
‘New Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) guidance sets out the regulators’ expectations on interpreting key concepts relevant to change in control.’
OUT-LAW.com, 11th November 2024
Source: www.pinsentmasons.com
‘Lloyds Banking Group has scrapped commission payments across its £15bn motor finance arm after a landmark ruling on car loan misselling, as industry and Treasury officials hold urgent talks amid fears of contagion across the wider financial sector.’
The Guardian, 30th October 2024
Source: www.theguardian.com
‘Foreign companies need to have a substantial presence in the UK, including adequate human and technical resources, for their branch to qualify as a “fixed establishment”, a necessary condition for being treated as a member of a value added tax (VAT) group in the UK, a recent ruling has confirmed.’
OUT-LAW.com, 6th September 2024
Source: www.pinsentmasons.com
‘Fatima Jama explores the FCA’s new regulatory regime requiring banks and building societies designated by the Government to assess and fill gaps, or potential gaps, in cash access provision that significantly impact consumers and businesses.’
Mountford Chambers, 5th August 2024
Source: www.mountfordchambers.com
‘The official payment watchdog has considerably scaled back proposed rules designed to force banks and payment companies to refund fraud victims.’
BBC News, 4th September 2024
Source: www.bbc.co.uk
‘The sentencing of seven people involved in a money laundering network via Chinese underground banking is a valuable reminder to solicitors of its risks, the Solicitors Regulation Authority (SRA) has said.’
Legal Futures, 30th August 2024
Source: www.legalfutures.co.uk
‘Two recent High Court decisions considered how the legal doctrines of dishonest assistance in a breach of trust and unjust enrichment can be applied in the context of a bank or e-money institution receiving payments that have been procured by fraud.’
OUT-LAW.com, 24th June 2024
Source: www.pinsentmasons.com
‘A banking fraudster has been sentenced for making fake applications to banks and a pension company to obtain loans, banking, and pension facilities, totalling around £178,000 in potential losses.’
Crown Prosecution Service, 24th May 2024
Source: www.cps.gov.uk
‘The first trader jailed worldwide for Libor interest rate rigging has been left with a possible route clear his name, despite being refused permission to appeal against his conviction at the UK’s Supreme Court.’
The Independent, 21st May 2024
Source: www.independent.co.uk
‘Afascinating debate looks set to continue to the Supreme Court after the Court of Appeal dismissed the appeals of former traders Tom Hayes and Carlo Palombo. This case not only places traders back in the spotlight; it also subjects the Court of Appeal itself to scrutiny for the global uncertainty resulting from its judgment and its role as gatekeeper to the Supreme Court.’
Law Society's Gazette, 7th May 2024
Source: www.lawgazette.co.uk
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