‘The ‘financial list’ launched by the High Court in October last year for claims linked to the financial markets and worth over £50m is “operating well”, Mr Justice Blair has said.’
Litigation Futures, 27th January 2016
Source: www.litigationfutures.com
‘Audit and accountancy firms who devise tax-avoidance schemes ruled unlawful have never faced official reprimand, The Independent can reveal. None of the so-called “Big Four” firms – PricewaterhouseCoopers (PwC), KPMG, Deloitte & Touche and Ernst & Young – has ever faced regulatory investigation for such schemes. Court rulings condemning unlawful avoidance schemes are regularly overlooked by regulators.’
The Independent, 18th January 2016
Source: www.independent.co.uk
‘In BNY Mellon Corporate Trustee Services Ltd v LBG Capital No.1 and No. 2 Plc, the Court of Appeal reversed the first instance decision of the High Court, by allowing early redemption of certain convertible securities (known as Enhanced Capital Notes, or ECNs).’
Commercial Disputes Blog, 4th January 2016
Source: www.rpc.co.uk
‘This article by Daniel Northall was first produced for and published by LawinSport.com . Daniel examines the legal implications of the recent controversy1 concerning the mis-selling of investments2 to high net worth individuals, notably footballers.3 Specifically, it explores the nature of the problem, including the investments made, how they might come to be mis-sold, and the avenues available to a footballer who has sustained substantial losses through mis-sold investments. It will be particularly relevant to footballers and their professional advisors.’
Littleton Chambers, 12th January 2016
Source: www.littletonchambers.com
‘The acting chief executive of the City watchdog has denied claims it has gone soft on banks following the decision to drop its inquiry into banking culture.’
The Guardian, 9th January 2016
Source: www.guardian.co.uk
‘The Prudential Regulatory Authority (PRA) has fined a bank more than £1 million after finding that faults with its outsourcing arrangements helped rogue employees at a third party service provider to move money out of its bank accounts without its knowledge or consent and put the bank’s own financial health at risk.’
OUT-LAW.com, 2nd December 2015
Source: www.out-law.com
‘A court in London is expected to decide on Monday whether to approve a deferred prosecution agreement (DPA) provisionally put in place by the Serious Fraud Office (SFO) and Standard Bank.’
OUT-LAW.com, 27th November 2015
Source: www.out-law.com
‘The City watchdog has begun its first official probe into rip-off charges on new flexible “bank account” pensions over fears they are depriving pensioners of hundreds of pounds a year.’
Daily Telegraph, 26th November 2015
Source: www.telegraph.co.uk
‘Regulators will conduct a review into whether enforcement action against management team should be taken “as early as possible next year.” ’
The Guardian, 19th November 2015
Source: www.guardian.co.uk
‘A report into the collapse of HBOS is due later and is expected to be critical of its former bosses.’
BBC News, 19th November 2015
Source: www.bbc.co.uk
‘Bank Mellat is an Iranian bank, initially subjected to a 2009 order which prohibited anybody in the UK from dealing with it – until the Supreme Court quashed it: here, and my posts here and here. ‘
UK Human Rights Blog, 28th October 2015
Source: www.ukhumanrightsblog.com
‘The financial regulator, the Financial Conduct Authority (FCA) is considering a deadline for claims over mis-sold payment protection insurance (PPI).’
BBC News, 2nd October 2015
Source: www.bbc.co.uk
‘Charities that harass or abuse donors should be named and shamed, and in some cases banned from approaching the public for money, a government-commissioned review of fundraising has recommended.’
The Guardian, 23rd September 2015
Source: www.guardian.co.uk
‘Solicitor General’s keynote address to the 33rd Cambridge Symposium on Economic Crime.’
Attorney General’s Office, 11th September 2015
Source: www.gov.uk/ago
‘On 13 August 2015 the Payment Systems Regulator (PSR) issued guidance on how it will apply its concurrent competition law powers in relation to participation in payment systems.’
Zenith Chambers, 26th September 2015
Source: www.zenithchambers.co.uk
‘The Co-operative Bank has escaped a fine from regulators investigating the “failings” throughout 2009-13 that led to its bailout.’
BBC News, 11th August 2015
Source: www.bbc.co.uk
‘As (relatively) recent press coverage of celebrity participants shows, litigation relating to tax mitigation (or avoidance) schemes is on the rise. HMRC has taken an increasingly harder line in recent years both in tightening the legislation surrounding tax avoidance and in refusing and litigating claims for tax relief based on “losses” incurred in tax mitigation schemes. Investors who have lost out are increasingly turning to their original financial advisers for recompense. Unfortunately, many such claims are only considered or intimated after the primary limitation period has passed.’
Hardwicke Chambers, 15th June 2015
Source: www.hardwicke.co.uk
‘The scandal which enveloped the Co-operative Bank was reawakened on Tuesday when the bank revealed it was facing fines from City regulators over the events that led to its near collapse two years ago.’
The Guardian, 23rd June 2015
Source: www.guardian.co.uk
Macris v Financial Conduct Authority [2015] EWCA Civ 490; [2015] WLR (D) 219
‘When determining whether, for the purposes of section 393 of the Financial Services and Markets Act 2000, “matters” in a notice issued by the Financial Conduct Authority as against a bank had “identified” a person who was not directly named, a simple objective test was to be applied.’
WLR Daily, 19th May 2015
Source: www.iclr.co.uk
‘Banks could face a bigger bill for mis-selling payment protection insurance after the City regulator said it was considering new rules on how customers should be compensated.’
The Guardian, 27th May 2015
Source: www.guardian.co.uk
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