“Speech by the Chancellor of the Exchequer, Rt Hon George Osborne MP, on the Reform of Banking, 4th Februaruy 2013.”
Banking reform: a new structure for stability and growth, Cm 8545
HM Treasury, 4th Februaury 2013
Source: www.hm-treasury.gov.uk
“Four banks will now compensate tens of thousands of small businesses who were mis-sold complex insurance deals, says the Financial Services Authority.”
BBC News, 31st January 2013
Source: www.bbc.co.uk
“In October 2009, Bank Mellat, an Iranian bank, was effectively excluded from the UK financial market by an Order made by the Treasury, on the basis that it had or might provide banking services to those involved in Iran’s nuclear effort. The Bank challenged the Order, and the challenge failed in the Court of Appeal, albeit with a dissent from Elias LJ: see Rosalind English’s post and read judgment. The Bank’s appeal to the Supreme Court is due to be heard in March 2013; it raises some fascinating issues about common law unfairness, Article 6, and the right to property under A1P1 , given that the Bank was not told of the intention to make the Order prior to its making.”
UK Human Rights Blog, 30th January 2013
Source: www.ukhumanrightsblog.com
“The Commercial Court has resisted an application to anonymise those individuals at Barclays involved in the LIBOR scandal.”
UK Human Rights Blog, 30th January 2013
Source: www.ukhumanrightsblog.com
“Barclays has been forced to reveal the identities of more than 100 employees who had been attempting to keep their names out of the public domain ahead of a case involving the alleged manipulation of the Libor rate.”
The Guardian, 24th January 2013
Source: www.guardian.co.uk
“Attorney General, Dominic Grieve QC MP outlined steps taken to prosecute economic crime at the Cityforum round table. Originally given at City of London Guildhall. This is the text of the speech as drafted, which may differ slightly from the delivered version.”
Attorney General’s Office, 21st January 2013
Source: www.gov.uk/ago
“More competition is needed among providers of current accounts, the Office of Fair Trading said on Friday after finding the major banks had increased their dominance in the £9bn market. The OFT said ‘significant further’ changes were required as it warned that the market was not ‘working well for consumers or the wider economy’but decided against a full referral to the Competition Commission. It will conduct another review in 2015.”
The Guardian, 25th January 2013
Source: www.guardian.co.uk
Lloyds TSB Foundation for Scotland v Lloyds Banking Group plc [2013] UKSC 3; [2013] WLR (D) 19
“In construing a contractual provision, where there had been an unforeseeable and fundamental change in the legal context since the execution of the contract, the proper approach was to adopt a meaning which best gave effect to the parties’ original intentions and purposes. Where, therefore, a deed executed in 1997 provided for payment to be made by a banking group to a charitable foundation by reference to the group’s pre-tax profit or loss shown in the audited accounts, and a change in accounting practice subsequently required the group consolidated income statement to include, as a profit, a sum representing an unrealised gain on acquisition, the inclusion of such a sum was to be ignored for the purposes of calculating the amount payable to the foundation under the deed.”
WLR Daily, 23rd January 2013
Source: www.iclr.co.uk
“The Treasury is urging the supreme court to consider secret evidence for the first time when it hears an appeal by an Iranian bank against sanctions imposed on it by the British government.”
The Guardian, 22nd January 2013
Source: www.guardian.co.uk
“More than 100 bankers have failed in a bid to prevent their names being revealed during preliminary hearings of a high court case centred on alleged rigging of the key London interbank offered rate (Libor) by Barclays staff.”
The Guardian, 21st January 2013
Source: www.guardian.co.uk
“Stephen Hester lays groundwork for penalties expected to be £500m or more.”
The Guardian, 20th January 2013
Source: www.guardian.co.uk
“Two men from London have been sent to jail after being found guilty of
defrauding two banks, Allied Irish Banks and Bank of Scotland, of £61.”
BBC News, 17th January 2013
Source: www.bbc.co.uk
“Britain’s most successful serial confidence trickster, Achilleas Kallakis, faces up to 10 years in jail after being found guilty of duping banks out of more than £750m.”
The Guardian, 16th January 2013
Source: www.guardian.co.uk
“A millionaire property developer and his wife who claimed they were brought to complete ruination by a simple banking error have lost their High Court claim for more than £3 million in damages.”
Daily Telegraph, 15th January 2013
Source: www.telegraph.co.uk
“Regulator imposes requirements on Royal Bank of Scotland’s use of charging orders – a way of collecting unsecured debts that could see borrowers lose their homes.”
Daily Telegraph, 11th January 2013
Source: www.telegraph.co.uk
“Peer-to-peer lenders such as Zopa, RateSetter and Funding Circle will be regulated by the new Financial Conduct Authority.”
Daily Telegraph, 7th December 2012
Source: www.telegraph.co.uk
“Clear, unambiguous rules on the administration of, and submitting to, the London Interbank Offered Rate (LIBOR) and other benchmarks will be included in the regulatory handbook, the Financial Services Authority (FSA) has said.”
OUT-LAW.com, 6th December 2012
Source: www.out-law.com
“The Financial Services Authority (FSA) is consulting on a new power that will enable regulators to ban financial products without consultation in certain circumstances.”
OUT-LAW.com, 5th December 2012
Source: www.out-law.com
“The Government launched its public consultation on the regulation of the London Interbank Offered Rate (LIBOR) today.”
HM Treasury, 28th November 2012
Source: www.hm-treasury.gov.uk
“UBS has been fined £30m by the UK’s Financial Services Authority – and could see its investment banking activities hampered by the Swiss regulator – after the former trader Kweku Adoboli was jailed for fraud.”
The Guardian, 26th November 2012
Source: www.guardian.co.uk
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