City watchdog told to review London Capital & Finance collapse – The Guardian
‘Government orders FCA inquiry into £236m scandal surrounding investment firm.’
The Guardian, 1st April 2019
Source: www.theguardian.com
Category: banking
City watchdog fines Goldman Sachs £34.4m for misreporting – The Guardian
‘Goldman Sachs has been fined £34.4m by the City regulator for misreporting millions of transactions over a decade.’
The Guardian, 28th March 2019
Source: www.theguardian.com
MPs call for inquiry into alleged forgery of signatures – BBC News
‘MPs are pressing the Treasury Select Committee to open an immediate inquiry into the alleged forgery of signatures in bank court documents.’
BBC News, 29th March 2019
Source: www.bbc.co.uk
FCA to focus on affordability and culture in regulation of consumer credit – OUT-LAW.com
‘The UK’s Financial Conduct Authority (FCA) has set out its priorities for the future regulation of the consumer credit sector, including the impact of the Senior Managers and Certification Regime (SMCR).’
OUT-LAW.com, 27th March 2019
Source: www.out-law.com
Supreme Court: income tax must be deducted from creditor interest – OUT-LAW.com
‘Income tax must be deducted before administrators can pay out statutory interest to the creditors of an insolvent company, the UK’s highest court has confirmed.’
OUT-LAW.com, 14th March 2019
Source: www.out-law.com
Are banks guilty of faking signatures on British court papers? – The Guardian
‘Have some banks, or their legal representatives, been faking signatures on UK court documents used to repossess people’s homes and to recover other debts?’
The Guardian, 16th February 2019
Source: www.theguardian.com
RBS sued by Newham council over the terms of £150m in loans – The Guardian
‘Newham council is suing Royal Bank of Scotland over the terms of about £150m in complex bank loans, making it the latest UK bank to face a lawsuit over lending terms that critics say piled undue pressure on local services.’
The Guardian, 6th February 2019
Source: www.theguardian.com
Scam victims whose losses are not ‘life changing’ will receive no redress, under bank plans – Daily Telegraph
‘Scam victims whose losses are not considered to be “life changing” could be excluded from a new compensation scheme under proposals by one of Britain’s biggest banks.’
Daily Telegraph, 24th January 2019
Source: www.telegraph.co.uk
Lengthy jail terms for scammers who tried to bribe bank staff – Crown Prosecution Service
‘Two accomplices who offered bribes to bank staff in an attempt to swindle hundreds of thousands of pounds were jailed today (January 17).’
Crown Prosecution Service, 17th January 2019
Source: www.cps.gov.uk
Fraud trial of former Barclays bosses puts SFO under scrutiny – The Guardian
‘A long-awaited fraud trial of four former Barclays executives will begin this week over charges related to a £12bn rescue package secured from investors including Qatar at the height of the financial crisis.’
The Guardian, 6th January 2019
Source: www.theguardian.com
FCA under fire over Lloyds compensation scheme – BBC News
‘The Financial Conduct Authority (FCA) has been criticised for allowing Lloyds Banking Group to set up a “flawed” compensation scheme for victims of a massive fraud.’
BBC News, 17th December 2018
Source: www.bbc.co.uk
Tycoon Vijay Mallya can be extradited to India, UK judge rules – The Guardian
‘Vijay Mallya, the multimillionaire former owner of the Force India Formula One team and self-proclaimed “King of the Good Times”, can be extradited to India to face allegations of fraud.’
The Guardian, 10th December 2018
Source: www.theguardian.com
High Court rejects funder’s bid for “mini-trial” of £14m claim – Litigation Futures
‘Litigation funder Vannin Capital has failed to obtain summary judgment of its £14m claim against RBS shareholders it backed who then successfully sued the bank.’
Litigation Futures, 11th December 2018
Source: www.litigationfutures.com
Amenability to judicial review – Law Society’s Gazette
‘When is a private appointment a matter of public law? In an important case on this issue, R (on the application of Holmcroft Properties Ltd) v KPMG LLP [2018] EWCA Civ 2093, the Court of Appeal recently upheld the Divisional Court’s decision that KPMG was not amenable to judicial review when acting as an independent reviewer, whose appointment by a bank was approved by the Financial Services Authority.’
Law Society's Gazette, 10th December 2018
Source: www.lawgazette.co.uk
MPs call for tribunal to bring ‘misbehaving banks’ to justice – The Guardian
‘A cross-bench group of MPs is gaining traction in its fight for a financial services tribunal that would bring misbehaving banks to justice, ahead of a key meeting with the chancellor this week.’
The Guardian, 20th November 2018
Source: www.theguardian.com
Noel Edmonds likely to file £60m Lloyds lawsuit on Wednesday – The Guardian
‘The TV and radio star Noel Edmonds, who is expected to join ITV’s I’m a Celebrity … Get Me Out Of Here jungle camp this week, is also likely to fire the starting gun on a £60m lawsuit against Lloyds Bank.’
The Guardian, 19th November 2018
Source: www.theguardian.com
Court of Appeal clears way for Mastercard hearing – Litigation Futures
‘The Court of Appeal has ruled that it has jurisdiction to hear an appeal against the decision that stopped the massive £14bn Mastercard class action – the biggest opt-out claim in English legal history.’
Litigation Futures, 15th November 2018
Source: www.litigationfutures.com
Former UBS trader Kweku Adoboli could be deported to Ghana – The Guardian
‘The convicted former UBS trader Kweku Adoboli has been arrested and could be deported to Ghana in the next few days, he has said.’
The Guardian, 12th November 2018
Source: www.theguardian.com
Final salary pension transfers stall as High Court throws rules into doubt – Daily Telegraph
‘People who attempt to swap final salary company pensions for cash are being left in limbo following a controversial legal judgment.’
Daily Telegraph, 12th November 2018
Source: www.telegraph.co.uk
GDPR: the ‘controller v processor’ debate in financial services – OUT-LAW.com
‘Lessons can be learned in the financial services sector from the rush to update contracts to account for the General Data Protection Regulation (GDPR) taking effect earlier this year.’
OUT-LAW.com, 2nd November 2018
Source: www.out-law.com
