MPs call for tribunal to bring ‘misbehaving banks’ to justice – The Guardian

Posted November 20th, 2018 in banking, financial regulation, news, tribunals by sally

‘A cross-bench group of MPs is gaining traction in its fight for a financial services tribunal that would bring misbehaving banks to justice, ahead of a key meeting with the chancellor this week.’

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The Guardian, 20th November 2018


Noel Edmonds likely to file £60m Lloyds lawsuit on Wednesday – The Guardian

Posted November 19th, 2018 in banking, charities, compensation, damages, fraud, news by sally

‘The TV and radio star Noel Edmonds, who is expected to join ITV’s I’m a Celebrity … Get Me Out Of Here jungle camp this week, is also likely to fire the starting gun on a £60m lawsuit against Lloyds Bank.’

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The Guardian, 19th November 2018


Court of Appeal clears way for Mastercard hearing – Litigation Futures

Posted November 15th, 2018 in appeals, banking, class actions, EC law, fees, judicial review, jurisdiction, news by tracey

‘The Court of Appeal has ruled that it has jurisdiction to hear an appeal against the decision that stopped the massive £14bn Mastercard class action – the biggest opt-out claim in English legal history.’

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Litigation Futures, 15th November 2018


Former UBS trader Kweku Adoboli could be deported to Ghana – The Guardian

Posted November 13th, 2018 in appeals, banking, deportation, fraud, immigration, judicial review, news, sentencing by sally

‘The convicted former UBS trader Kweku Adoboli has been arrested and could be deported to Ghana in the next few days, he has said.’

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The Guardian, 12th November 2018


Final salary pension transfers stall as High Court throws rules into doubt – Daily Telegraph

Posted November 12th, 2018 in banking, complaints, financial regulation, news, ombudsmen, pensions by tracey

‘People who attempt to swap final salary company pensions for cash are being left in limbo following a controversial legal judgment.’

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Daily Telegraph, 12th November 2018


GDPR: the ‘controller v processor’ debate in financial services –

Posted November 5th, 2018 in banking, codes of practice, contracts, data protection, EC law, news, third parties by sally

‘Lessons can be learned in the financial services sector from the rush to update contracts to account for the General Data Protection Regulation (GDPR) taking effect earlier this year.’

Full Story, 2nd November 2018


Lord Hodge at East China University of Political Science and Law, Shanghai, China, Speech – Supreme Court

‘Financial Technology: Opportunities and Challenges to Law and Regulation, East China University of Political Science and Law, Shanghai, China.’

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Supreme Court, 26th October 2018


Name checks to begin on bank payments – BBC News

Posted October 19th, 2018 in banking, fraud, news by sally

‘The name of someone receiving a payment will be as important as their banking details for the first time from next summer, in an attempt to combat fraud.’

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BBC News, 18th October 2018


Barrister wins right to see reports his bank made to police – Legal Futures

Posted October 11th, 2018 in banking, barristers, freedom of information, money laundering, news, police by sally

‘A barrister has won the right to see suspicious activity reports (SARs) that his bank made to the National Crime Agency (NCA) about money received into his accounts.’

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Legal Futures, 10th October 2018


UBS ‘rogue trader’ in last-ditch attempt to avoid deportation – The Guardian

Posted September 17th, 2018 in banking, deportation, fraud, judicial review, news by sally

‘Kweku Adoboli, the former UBS banker jailed for the UK’s biggest ever fraud, will on Monday file for a judicial review of the decision to deport him to Ghana, in a last-ditch attempt to stop his “banishment” from the UK, where he has lived since he was 12.’

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The Guardian, 16th September 2018


Push payment fraud victims ‘not automatically negligent’ –

Posted September 3rd, 2018 in banking, compensation, financial regulation, fraud, news, ombudsmen by sally

‘The Financial Ombudsman Service (FOS) will be looking for “clear evidence” that banks have properly investigated claims by customers for compensation in cases of suspected authorised push payment (APP) fraud.’

Full Story, 30th August 2018


Banks subject to UK disclosures on security and outage incidents –

Posted August 23rd, 2018 in banking, computer crime, disclosure, financial regulation, news by sally

‘Rules requiring banks to publically disclose how often they have had to report major operational and security incidents have taken effect in the UK.’

Full Story, 22nd August 2018


FCA open to ‘broad range’ of post-Brexit bank structures –

Posted August 14th, 2018 in banking, financial regulation, news by sally

‘UK banks will be given some flexibility when deciding how best to ensure that they can continue to serve customers in the EU after Brexit, the Financial Conduct Authority (FCA) has said.’

Full Story, 13th August 2018


Former HSBC banker wins appeal against extradition to US – The Guardian

Posted August 3rd, 2018 in appeals, banking, extradition, fraud, news by tracey

‘HSBC’s former head of currency trading has won a last-ditch battle to block his extradition to the US, where he faces 11 charges of foreign exchange rigging which each carry a maximum 30-year prison sentence.’

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The Guardian, 31st July 2018


UK ruling offers lesson for banks on credit referencing –

Posted July 27th, 2018 in agency, banking, economic loss, gambling, misrepresentation, news, Supreme Court by sally

‘Banks can learn a lesson from a new ruling issued by the UK Supreme Court on practices to adopt when providing credit references, according to a banking and finance litigation expert.’

Full Story, 27th July 2018


UK regulators could enforce minimum interest rate for savers – The Guardian

Posted July 26th, 2018 in banking, consumer protection, financial regulation, interest, news by sally

‘Banks could be forced to pay savers a minimum interest rate after City regulators found that longstanding customers in instant access accounts are paid derisory rates because of their apathy about switching providers.’

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The Guardian, 25th July 2018


Vicarious liability: Banking on bright lines – UK Human Rights Blog

Posted July 24th, 2018 in banking, medical treatment, news, sexual offences, vicarious liability by tracey

‘A bank requires its would-be recruits and some of its existing employees to undergo a medical. It sends them to the home of one particular, self-employed doctor. There, they undergo a medical examination, unaccompanied by anyone from the bank. The doctor completes the bank’s proforma examination form, headed with its logo and entitled “Barclays Confidential Medical Report”. The form is detailed. It includes sections on chest “Inspiration” and “Expiration”, “Abdomen (including Genito-Urinary System)”. It contains a section for “Female applicants only”, asking whether they have suffered from menstrual or pregnancy disorders. The doctor – Gordon Bates – subsequently dies. A large group of women sue the bank alleging that it is liable for sexual assaults carried out by the doctor during the examinations. The question for the Court of Appeal in Barclays Bank plc v Various Claimants [2018] EWCA Civ 1670 was whether the bank could be vicariously liable.’

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UK Human Rights Blog, 24th July 218


Case Comment: Goldman Sachs International v Novo Banco S.A. [2018] UKSC 34 – Supreme Court Blog

Posted July 20th, 2018 in banking, conflict of laws, EC law, jurisdiction, news by tracey

‘Dana Feinsohn, trainee solicitor in the litigation and arbitration team at CMS, comments on the decision handed down by the UK Supreme Court in the matter of Goldman Sachs International v Novo Banco S.A. [2018] UKSC 34.’

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Supreme Court Blog, 17th July 2018


Ex-traders handed 13-year jail sentence for Euribor rate-rigging – Daily Telegraph

Posted July 20th, 2018 in banking, fraud, news, sentencing by tracey

‘Two former traders have been jailed for more than 13 years for trying to rig a key financial benchmark at the height of the financial crisis.’

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Daily Telegraph, 19th July 2018


Supreme Court dismisses appeal over bank resolution claims –

Posted July 5th, 2018 in appeals, banking, EC law, jurisdiction, news, Supreme Court by tracey

‘Claims brought against Novo Banco, the bank set up by the Portuguese central bank following the collapse of Banco Espirito Santo (BES) in 2014, must be heard in Portugal, the UK’s highest court has confirmed.’

Full Story, 5th July 2018