Trader wins £1.4m bank bonus case – The Independent
“Three judges today awarded a London trader the £1.4 million bonus he was denied by his Dutch bank employers.”
The Independent, 23rd April 2010
Source: www.independent.co.uk
“Three judges today awarded a London trader the £1.4 million bonus he was denied by his Dutch bank employers.”
The Independent, 23rd April 2010
Source: www.independent.co.uk
“Royal Bank of Scotland has been fined £28.6m for breaching competition law after sharing confidential details about the pricing of its commercial loans with rival staff at Barclays.”
The Guardian, 30th March 2010
Source: www.guardian.co.uk
“A former proprietary trader at Merrill Lynch, who mispriced trades in a desperate bid to cover up some of the $456m (£300m) of losses he had racked up, was banned from working in the industry for at least five years.”
The Guardian, 16th March 2010
Source: www.guardian.co.uk
Shah and another v HSBC Private Bank (UK) Ltd [2010] EWCA Civ 31; [2010] WLR (D) 27
“Where a bank claimed, for the purposes of the Proceeds of Crime Act 2002, to entertain ‘suspicion’ about money-laundering concerning a proposed transaction on a customer’s account, and had failed to carry out instructions promptly, a customer might be entitled to proceed with a claim in breach of contract or duty.”
WLR Daily, 5th February 2010
Source: www.lawreports.co.uk
Please note once a case has been reported in one of the ICLR series the corresponding WLR Daily summary is removed.
“Environment and human rights campaigners are suing the Treasury over its injection of capital into the Royal Bank of Scotland last year.”
BBC News, 3rd February 2010
Source: www.bbc.co.uk
“The Government will move quickly to implement the reforms of bank pay and governance proposed today by Sir David Walker. Sir David’s review was commissioned by the Government earlier this year to explore failures of corporate governance and management of banks. His final report suggests a series of reforms to strengthen the role of shareholders, improve the quality of bank boards, and to increase transparency of pay and bonus policies.”
HM Treasury, 26th November 2009
Source: www.hm-treasury.gov.uk
Office of Fair Trading v Abbey National plc and others [2009] UKSC 6; [2009] WLR (D) 341
“Charges levied by banks in respect of unauthorised overdrafts were part of a ‘package’ of services and consideration and their fairness was exempt from review under reg 6(2)(b) of the Unfair Terms in Consumer Contracts Regulations 1999.”
WLR Daily, 25th November 2009
Source: www.lawreports.co.uk
Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.
“Millions of current account customers could come a step closer to reclaiming ‘unfair’ charges they paid on unauthorised overdrafts today when the supreme court hands down a long-awaited appeal ruling.”
The Guardian, 25th November 2009
Source: www.guardian.co.uk
“Slaughter and May could lose its crown as the Government’s preferred legal adviser on the banking crisis. In the biggest legal shake-up since the bank bailouts started two years ago, the Treasury is asking other firms to tender for the business.”
The Times, 29th October 2009
Source: www.timesonline.co.uk
“Former and current employees of a German-owned investment bank today lodged a high court claim for £30m in unpaid bonuses.”
The Guardian, 8th September 2009
Source: www.guardian.co.uk
“Barclays has been fined £2.45m by the Financial Services Authority for failures related to the reporting of trades in its investment banking arm, Barclays Capital.”
The Guardian, 8th September 2009
Source: www.guardian.co.uk
“Anti-stalking laws are being successfully used by people hit by the credit crunch to stop demands for payment from their banks, The Independent has learnt.”
The Independent, 20th August 2009
Source: www.independent.co.uk
“More than 300 UK and foreign banks have been told to hand over details of UK taxpayers who have accounts offshore.”
BBC News, 13th August 2009
Source: www.bbc.co.uk
“The Serious Fraud Office (SFO) has launched a series of investigations into UK-based banks to establish whether they fraudulently mis-sold complex financial products in the run-up to the global banking crisis.”
The Times, 4th August 2009
Source: www.timesonline.co.uk
“The statutory scheme established to compensate shareholders subsequent to the nationalisation of Northern Rock plc, on the basis of the assessment of the valuation of the shares by means of the statutory assumptions provided for in s 5(4) of the Banking (Special Provisions) Act 2008, did not violate the shareholders’ right to the protection of their property guaranteed under art 1 of the First Protocol to the Convention for the Protection of Human Rights and Fundamental Freedoms. Those statutory assumptions struck the balance, required by the Convention, between the demands of the general interest of the community and the requirements of the protection of the individual’s fundamental rights.”
WLR Daily, 30th July 2009
Source: www.lawreports.co.uk
Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.
“The government’s plans for reforming the regulation of banks are ‘largely cosmetic’ and ‘lack clarity’, MPs in the Treasury Select Committee say.”
BBC News, 31st July 2009
Source: www.bbc.co.uk
“A 91-year-old retired farmer has won nearly £200,000 compensation after he was advised by his bank to invest his savings on the stock market.”
BBC News, 23rd July 2009
Source: www.bbc.co.uk
“Bank bosses who allow their firms to devise schemes to help customers avoid paying tax could face sanctions from the Financial Services Authority.”
The Guardian, 23rd July 2009
Source: www.guardian.co.uk
“HSBC, Europe’s biggest bank, has been fined more than £3 million by the Financial Services Authority (FSA) for the ‘careless’ handling of confidential details of tens of thousands of its customers.”
The Times, 23rd July 2009
Source: www.timesonline.co.uk
” Alistair Darling stepped back today from a radical overhaul of Britain’s banks when he ruled out caps on bankers’ pay or breaking up the biggest City institutions.”
The Guardian, 9th July 2009
Source: www.guardian.co.uk