‘”Irresponsible” car loans will be probed by the City watchdog amid suggestion that drivers could soon be made to pass mortgage-style affordability tests before leasing new motors.’
Daily Telegraph, 18th April 2017
Source: www.telegraph.co.uk
‘The Bank of England is proposing to introduce a “fund-based” deposit facility for Islamic banks, which would allow them to obtain access to additional liquidity when necessary in a way that is compliant with sharia law.’
OUT-LAW.com, 10th April 2017
Source: www.out-law.com
‘The Bank of England has written to UK financial services firms asking them to send a summary of their contingency plans for Brexit to the Prudential Regulatory Authority (PRA) by July.’
OUT-LAW.com, 10th April 2017
Source: www.out-law.com
‘Some people may prefer the quiet life choosing not to rock the boat unless they really have to. Others could feel that the only correct thing to do is to spill the beans.’
The Independent, 10th April 2017
Source: www.independent.co.uk
‘In 1494 Botticelli completed painting “the Calumny of Apelles.” It depicts an innocent painter, Apelles, who has been wrongly accused of capital crimes, dragged before the King’s throne by personifications of Slander, Ignorance, Suspicion and Envy. It hangs in the Uffizi today and is thought to have been commissioned by a Florentine banker. In the story Apelles is pardoned from death at the last minute when a third party tells the king that he could not possibly have committed the offence, but the painting captures the moment when Apelles seems inevitably about to meet a sticky end, surrounded and almost entirely enveloped by Slander, Ignorance and Suspicion. Was this commissioned by a worried banker, concerned that he might meet his professional end without the ability to put the record straight or see the underlying disclosure? In Renaissance Florence this is unlikely but it does seem to reflect (at least some) of the anxieties of those who work in regulated professions today, that they may be hampered from obtaining future employment because of their previous employer’s interactions with a regulator.’
Littleton Chambers, 3rd April 2017
Source: www.littletonchambers.com
‘Credit card companies could be required to take more active measures to help customers struggling with persistent debts, under plans outlined by the UK’s City regulator.’
OUT-LAW.com, 4th April 2017
Source: www.out-law.com
‘David Green, the director of the Serious Fraud Office, has warned that British businesses should not consider deferred prosecution agreements (DPAs) the “new normal” if they are caught misbehaving.’
The Guardian, 2nd April 2017
Source: www.guardian.co.uk
‘The UK’s financial watchdog has fined a former investment banker more than £37,000 after he used WhatsApp to leak information and “impress” a friend.’
Daily Telegraph, 30th March 2017
Source: www.telegraph.co.uk
‘The Financial Conduct Authority (FCA) did not improperly identify a manager at an investment bank in its final notice imposing a fine on that bank for losses incurred in a particular part of the business, the Supreme Court has ruled.’
OUT-LAW.com, 27th March 2017
Source: www.out-law.com
‘Complaints to the financial ombudsman about payday loans have risen to almost 200 a week – and not all of those experiencing problems necessarily fit the image of low-income borrowers relying on short-term loans to get by.’
The Guardian, 28th February 2017
Source: www.guardian.co.uk
‘As another customer explains how he was conned out of £6,300 after the firm’s security breach, the ICO is seemingly stalling while a class action moves closer.’
The Guardian, 18th February 2017
Source: www.guardian.co.uk
‘It should not be obligatory for banks in the UK to pre-agree where their data will be processed and stored when contracting with cloud service providers.’
OUT-LAW.com, 13th February 2017
Source: www.out-law.com
‘A group of bankers who ran an “utterly corrupt scheme” that left hundreds of small business owners “cheated, defeated and penniless” have been sentenced to almost 50 years in jail.’
The Guardian, 2nd February 2017
Source: www.guardian.co.uk
‘Six people, including two former HBOS bankers, have been found guilty of bribery and fraud that cost the bank’s business customers and shareholders hundreds of millions of pounds.’
BBC News, 30th January 2017
Source: www.bbc.co.uk
‘Access to the EU’s financial markets should be based on common recognition of global standards instead of the current “granular, technical and detailed” legislation, the head of the UK’s Financial Conduct Authority (FCA) has said.’
OUT-LAW.com, 30th January 2017
Source: www.out-law.com
‘A lone whistleblower has won a 13-year “David and Goliath battle” against HSBC and Britain’s chief financial watchdog, resulting in a multimillion-pound compensation payout to thousands of people.’
The Guardian, 20th January 2017
Source: www.guardian.co.uk
‘The Court of Appeal has dismissed a high profile challenge by four Portuguese state-owned transport companies to the jurisdiction of the English courts in a dispute over a commonly-used standard form derivatives agreement.’
OUT-LAW.com, 14th December 2016
Source: www.out-law.com
‘The Serious Fraud Office will on Monday ask a London employment tribunal to hear an unfair dismissal claim by a former senior banker at Barclays in private.’
The Guardian, 20th November 2016
Source: www.guardian.co.uk
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