‘A judge’s sharp criticism of the Financial Conduct Authority for its failure to go after top bankers has put a cat right into the middle of the City regulator’s pigeons.’
The Independent, 21st June 2018
Source: www.independent.co.uk
‘A computer failure at TSB that caused up to 1.9 million people to lose access to online banking services is being investigated by the financial regulator.’
BBC news, 6th June 2018
Source: www.bbc.co.uk
‘Some TSB customers receiving letters acknowledging a complaint over the recent IT meltdown have also been sent other customers’ details.’
BBC News, June 2018
Source: www.bbc.co.uk
‘The number of serious tax evasion cases identified by HM Revenue and Customs (HMRC) increased by over one fifth last year, as HMRC has begun to receive more information about taxpayers with offshore bank accounts.’
OUT-LAW.com, 30th May 2018
Source: www.out-law.com
‘A solvency statement was found to be invalid, a reduction in capital and distribution unlawful and three directors in breach of their duties after a corporate reorganisation left a company unable to meet its liabilities, the High Court has ruled.’
OUT-LAW.com, 22nd May 2018
Source: www.out-law.com
‘The Home Office is to suspend controversial immigration checks on thousands of bank accounts in the wake of the Windrush scandal. The department is in the process of contacting banks and building societies to instruct them to reduce the scope of the checks, which were introduced as part of Theresa May’s plans to create a “hostile environment” for illegal immigrants.’
The Guardian, 17th May 2018
Source: www.theguardian.com
‘The Court of Appeal has upheld a decision to strike out freezing orders granted on behalf of French bank Société Générale (SocGen), after finding that the bank had taken too long to issue the relevant claim forms.’
OUT-LAW.com, 16th May 2018
Source: www.out-law.com
‘It is notoriously difficult to resist payment following a call on an on-demand guarantee or bond. Generally, nothing less than a seriously arguable case of fraud by the beneficiary will suffice. The stringency of this test is backed by strong policy arguments militating in favour of protecting the integrity of the banking system. However, even where a seriously arguable case of fraud is made out, the balance of convenience may weigh against injunctive relief, as demonstrated recently in Tetronics (International) Ltd v HSBC Bank plc.’
Practical Law: Construction Blog, 16th May 2018
‘A bank has won a legal battle against a China-based ‘cybersquatter’, who attempted to extort almost £100,000 from the business by buying a domain name they wanted.’
Daily Telegraph, 2nd April 2018
Source: www.telegraph.co.uk
‘City firms have launched a review into dispute resolution for companies wronged by banks, in the wake of the scandal over RBS’s mistreatment of small businesses. UK Finance, the lobby group for 300 British finance companies, has commissioned an independent study to analyse how complaints and disputes can be resolved in a more time and cost effective manner.’
Daily Telegraph, 29th April 2018
Source: www.telegraph.co.uk
‘Accountants, bankers and lawyers will face penalties if they fail to report aggressive tax avoidance schemes that help companies or individuals move money to offshore havens, under a new European Union law.’
The Guardian, 13th March 2018
Source: www.theguardian.com
‘A bank that relied on inaccurate information supplied by its borrower’s solicitor should not have won a negligence claim against her, because it failed to carry out its own checks, the Supreme Court has ruled.’
Legal Futures, 1st March 2018
Source: www.legalfutures.co.uk
‘The Treasury committee has published the full unredacted report into Royal Bank of Scotland’s “disgraceful” treatment of struggling small businesses that came to it for financial assistance in the wake of the banking crisis.’
The Guardian, 20th February 2018
Source: www.theguardian.com
‘The UK’s fraud watchdog has charged Barclays Bank over making a loan to Qatar back in 2008.’
The Independent, 12th February 2018
Source: www.independent.co.uk
‘MPs could publish a leaked version of the report into claims RBS mistreated small business customers whether regulators are ready or not. The Treasury Select Committee has told the Financial Conduct Authority it must publish the much-delayed report on the Global Restructuring Group (GRG) by the end of next week. If the FCA fails to do that, it must instead send a copy to the committee on that day.’
Daily Telegraph, 7th February 2018
Source: www.telegraph.co.uk
‘The High Court has said that it could not impose a permanent moratorium against creditor action in England and Wales where the foreign restructuring of an Azerbijan bank had been recognised as a foreign main proceeding under the Cross-Border Insolvency Regulations.’
OUT-LAW.com, 5th February 2018
Source: www.out-law.com
‘The bank arranger of a $650 million Islamic bond financing deal has been found negligent for failing to ensure that a promissory note, used as security, was properly signed.’
OUT-LAW.com, 8th January 2018
Source: www.out-law.com
‘Statutory interest paid by a company in administration on a surplus is ‘yearly interest’ for UK tax purposes and must therefore be paid after deduction of basic rate tax, the Court of Appeal has decided, overturning a previous decision of the High Court.’
OUT-LAW.com, 5th January 2018
Source: www.out-law.com
‘The Commercial Court (Andrew Baker J) has given judgment in favour of the Claimants in their action for damages against Credit Suisse under s.138D of the Financial Services and Markets Act 2000 (FSMA).’
Blackstone Chambers, 27th November 2017
Source: www.blackstonechambers.com
‘The number of reports notifying the UK’s Financial Conduct Authority (FCA) of suspicious transactions have risen to their highest ever level, more than doubling in the last two years.’
OUT-LAW.com, 23rd October 2017
Source: www.out-law.com
© Inner Temple Library 2018