‘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
‘The High Court has for the first time outside a medical context declined to apply the traditional Bolam v Friern Barnet Hospital Management Committee [1957] 1 WLR 582 test for the standard of care in favour of the new test in Montgomery v Larnarkshire Health Board [2015] AC 1430. Coutts, the private bank, was found to owe a duty to take reasonable care to ensure that their clients were aware of the risks of suggested investments. This is an important development in professional negligence law and one that may have far-reaching consequences.’
Hailsham Chambers, 3rd November 2016
Source: www.hailshamchambers.com
‘The City regulator is to launch an investigation into loans that charge high interest rates in a move that will also wade into the controversy over fees on overdrafts. The decision by the Financial Conduct Authority (FCA) to look at overdraft charges comes after the Competitition and Markets Authority stepped back from imposing a limit on these fees after a two-year investigation into high-street banking.’
The Guardian, 3rd November 2016
Source: www.guardian.co.uk
‘The competition watchdog has been accused of complacency and missing an opportunity to overhaul high street banking, including capping overdraft charges, despite a two-year long investigation.’
The Guardian, 1st November 2016
Source: www.guardian.co.uk
‘A long-standing legal test, that helps to determine whether professionals meet their duty of care to clients is not appropriate for determining whether UK investment advisers have sufficiently communicated with investors to be said to have provided suitable advice, the UK High Court has said.’
OUT-LAW.com, 20th September 2016
Source: www.out-law.com
‘The planned merger between Diebold and Wincor Nixdorf will be subject to an in-depth competition investigation, the UK’s Competition and Markets Authority (CMA) has said.’
OUT-LAW.com, 30th August 2016
Source: www.out-law.com
‘Continued debate over the extent to which blockchain might be used within financial services is helping to spur a broader discussion over the way technology could be used to reduce regulatory compliance burdens in the sector, an expert has said.’
OUT-LAW.com, 23rd August 2016
Source: www.out-law.com
‘Government proposals to impose heavy fines on banks, accountants and lawyers who market tax avoidance schemes will fail without more resources for HM Revenue & Customs to pursue offenders, campaigners have said.’
The Guardian, 17th August 2016
Source: www.guardian.co.uk
‘A pensioner who sparked a bomb scare with a handwritten note threatening to blow up a bank has been found guilty of blackmail.’
The Independent, 12th August 2016
Source: www.independent.co.uk
‘Plans to reform UK payments infrastructure have been outlined by the industry’s regulator after it found that current competition in the market is lacking and serving as a barrier to innovation.’
OUT-LAW.com, 8th August 2016
Source: www.out-law.com
‘A package of measures intended to help customers save £92 a year by switching their bank accounts has been unveiled by the competition watchdog after a two-year investigation into the sector.’
The Guardian, 9th August 2016
Source: www.guardian.co.uk
‘Overdraft fees and an easier system of moving personal and small business accounts are expected to be at the centre of measures intended to bolster competition in the banking sector.’
The Guardian, 8th August 2016
Source: www.guardian.co.uk
‘As the nation grapples with the impact of Brexit on migration, Ronan Toal briefs readers on the major revisions already introduced by the Immigration Act 2016.’
Counsel, August 2016
Source: www.counselmagazine.co.uk
‘Britain needs a new financial watchdog to punish wrongdoing in order to win public confidence, further reshaping a regulatory structure that was overhauled just three years ago, the Treasury Select Committee has said.’
The Independent, 26th July 2016
Source: www.independent.co.uk
‘Barclays and Credit Suisse paid huge fines in the US to settle misconduct allegations over the operation of their dark pool share trading exchanges. The City watchdog says the UK market is different, but it still wants banks to do better.’
The Independent, 21st July 2016
Source: www.independent.co.uk
‘The High Court has ruled that a claimant’s part 36 offer was a counter-offer, meaning that an earlier common law offer by the defendants no longer remained open for acceptance.’
Litigation futures, 15th July 2016
Source: www.litigationfutures.com
DB UK Bank Ltd (trading as DB Mortgages) v Jacobs Solicitors [2016 [EWHC] 1614 (Ch)
‘The claimant bank brought a claim for professional negligence against the defendant firm of solicitors. The claimant’s solicitors sent a letter to the defendant’s solicitors stating that they were accepting the defendant’s offer to settle contained in a “ without prejudice save as to costs” letter (“WPSAC letter”) and enclosing a draft Tomlin order. A series of without prejudice letters and conversations followed. The defendant’s solicitors wrote reiterating the terms of their offer of settlement. Subsequently, the claimant’s solicitors sent a without prejudice letter containing a CPR Pt 36 offer. The parties differed as to the effect of the claimant’s Part 36 offer on the defendant’s WPSAC letter. The defendant contended that the claimant’s Part 36 offer was a counteroffer and, in law, had the effect of rejecting its WPSAC letter so that thereafter, it was not open for acceptance.’
WLR Daily, 4th July 2016
Source: www.iclr.co.uk
‘A lender was entitled to recover the full amount of a refinancing loan it granted after relying on a negligent property valuation, and not just the ‘top-up’ funding, the Court of Appeal has ruled.’
OUT-LAW.com, 6th July 2016
Source: www.out-law.com
‘Four former Barclays traders were sentenced to as long as 6 1/2 years in prison for manipulating Libor as judges continued meting out tough punishments for white-collar crime.’
The Independent, 7th July 2016
Source: www.independent.co.uk
‘MasterCard is facing a claim of up to £19 billion in damages in a UK collective action over card charges that were passed on to shoppers.’
The Independent, 6th July 2016
Source: www.independent.co.uk
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