“A rogue trader who carried out the UK’s largest ever fraud, losing £1.4 billion in bad deals which nearly brought down a major international bank, was jailed for seven years today.”
The Independent, 20th November 2012
Source: www.independent.co.uk
“It is said that there are more questions on the application form to be a member of a lender’s conveyancing panel than there are to join MI5. Whether or not that is true, it is clear that if you want to do a good job for your homebuying clients, and act for lenders as well as your clients in any conveyancing transaction, chances are you will have to go through onerous vetting procedures now required by banks and building societies to be on their panels of approved solicitors.”
Law Society’s Gazette, 1st November 2012
Source: www.lawgazette.co.uk
“The Bank of Scotland has been fined £4m by the City regulator after a series of blunders meant it paid more than £20m in compensation to the wrong customers.”
The Guardian, 19th October 2012
Source: www.guardian.co.uk
“Administering and contributing to the London Interbank Offered Rate (LIBOR) will become a regulated activity, while criminal sanctions will be introduced for ‘misleading statements’ in relation to the benchmark, the Government has confirmed.”
OUT-LAW.com, 18th October 2012
Source: www.out-law.com
“The Serious Fraud Office (SFO) today called a halt to its high-profile three-year investigation into the UK’s links to a failed Icelandic bank.”
The Independent, 15th October 2012
Source: www.independent.co.uk
“The Companies Act 2006 was a step, but we urgently need a commission on responsible capitalism.”
The Guardian, 2nd October 2012
Source: www.guardian.co.uk
“Martin Wheatley’s 10-point plan includes stripping the BBA of its role and making Libor manipulation a criminal offence.”
The Guardian, 28th September 2012
Source: www.guardian.co.uk
“A former Lloyds Bank worker in charge of online security has been jailed for five years over a £2.4m fraud.”
BBC News, 21st September 2012
Source: www.bbc.co.uk
“A government business lending specialist is to investigate a loan made by Barclays that turned sour and allowed the bank to collect nearly £70,000 in taxpayer guarantees.”
The Guardian, 20th September 2012
Source: www.guardian.co.uk
“Four men have been jailed for a year long campaign of raids on supermarket cash dispensers using a circular saw.”
BBC News, 17th September 2012
Source: www.bbc.co.uk
“A former HBOS executive has been fined £500,000 by the UK financial regulator over his role in the bank’s collapse.”
BBC News, 12th September 2012
Source: www.bbc.co.uk
“The UK’s financial watchdog will call for a clampdown later on commissions paid for selling insurance, loans and bank accounts.”
BBC News, 5th September 2012
Source: www.bbc.co.uk
“The Serious Fraud Office has launched an investigation into payments made after Barclays tapped Middle Eastern investors for emergency funds in 2008.”
The Guardian, 30th August 2012
Source: www.guardian.co.uk
“Higher fines for firms that fail to co-operate with regulators and potential criminal sanctions for benchmark manipulation have been suggested by the Treasury Select Committee in a report responding to alleged manipulation of market rates by major banks.”
OUT-LAW.com, 21st August 2012
Source: www.out-law.com
“Martin Wheatley, FSA boss, says Libor is ‘no longer fit for purpose’ and intends to make Libor manipulation a criminal offence.”
The Guardian, 10th August 2012
Source: www.guardian.co.uk
“The Government is seeking views on whether to extend its existing powers to stabilise or wind up ‘systemically important’ large banks to other vital financial services functions such as investments and insurance.”
OUT-LAW.com, 6th August 2012
Source: www.out-law.com
“Investors who held in shares in Northern Rock before it was nationalised by Labour in February 2008 have reacted angrily to a long awaited decision by the European court of human rights to dismiss their argument that they should be granted compensation by the UK government.”
The Guardian, 1st August 2012
Source: www.guardian.co.uk
Standard Chartered Bank v Ceylon Petroleum Corporation [2012] WLR (D) 232
“In the absence of any indication to the contrary, a commercial entity set up by statute to engage in international and domestic trade had the capacity to enter into the whole range of transactions which a commercial organisation acting in that field of business would ordinarily undertake, including hedging or speculative transactions.”
WLR Daily, 27th July 2012
Source: www.iclr.co.uk
“Helena Kennedy QC presents a series uncovering the relationship between the UK’s financial and legal systems, between capitalism and the law and between freedom and justice.”
BBC Radio 4, 9th July 2012
Source: www.bbc.co.uk
“The Serious Fraud Office (SFO) has confirmed that it has formally launched a criminal investigation into the rigging of inter-bank lending rates.”
BBC News, 6th July 2012
Source: www.bbc.co.uk
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