‘The City regulator has accused UK banks of causing “significant harm” to their most vulnerable customers as it pushes ahead with a ban on excessive overdraft fees.’
The Guardian, 7th June 2019
Source: www.theguardian.com
‘The government has launched an independent inquiry into the collapse of London Capital & Finance, the investment firm at the centre of a mounting £236m financial scandal in which thousands of investors lost money. Dame Elizabeth Gloster, a leading high court judge specialising in corporate failures, finance and fraud, will lead the investigation into the company and the oversight of the City watchdog ahead of its collapse.’
The Guardian, 23rd May 2019
Source: www.theguardian.com
‘Complaints against payday lenders have soared to a five year high, the industry watchdog has said.’
BBC News, 15th May 2019
Source: www.bbc.co.uk
‘A record-breaking collective claim against MasterCard was thrown out by the Competition Appeal Tribunal today in a major blow to the growth of funded class actions in the UK. The case, brought by former financial services ombudsman Walter Merricks on behalf of 46 million consumers who were alleged to be victims of excess ‘interchange fees’ charged by card companies, claimed £14bn in damages. It was the largest sum claimed in English legal history.’
Law Society's Gazette, 21st July 2017
Source: www.lawgazette.co.uk
‘The £37bn bill for payment protection insurance mis-selling by Britain’s banks is likely to escalate further after the Financial Ombudsman revealed that it continues to be inundated with complaints.’
The Guardian, 6th September 2016
Source: www.guardian.co.uk
‘The City regulator has widened its inquiries into potential links between UK financial firms and the law company at the centre of the Panama Papers revelations, it said on Tuesday.’
The Guardian, 26th April 2016
Source: www.guardian.co.uk
‘A ‘land bank’ arrangement which sold small plots of land to investors at “hugely inflated prices” was an unauthorised collective investment scheme (CIS) which ought to have been regulated by the Financial Conduct Authority (FCA), the UK’s highest court has confirmed.’
OUT-LAW.com, 25th April 2016
Source: www.out-law.com
‘Today’s banks are in receipt of the largest fines ever imposed by the Financial Conduct Authority (FCA), or its predecessor the Financial Services Authority (FSA), and although they are taking responsibility for a number of failings (eg PPI, Derivatives, LIBOR and FOREX), restrictions on recovering loss, in particular where consequential loss is concerned, have come under significant scrutiny. This article examines the measure of loss in tort and contract, and particularly explores investors’ difficulties when making claims for loss of profit caused by mis selling.’
Hardwicke Chambers, 31st March 2016
Source: www.hardwicke.co.uk
‘In Claverton Holdings Ltd v Barclays Bank plc, the Commercial Court rejected an application by the claimant for specific disclosure against the defendant bank. The court found that the documents sought, which related to other mis-selling allegations against the bank employees featuring in the claimant’s case, would have little probative value and adducing them would place a disproportionate burden on the defendant.’
Commercial Disputes Blog, 16th February 2016
Source: www.rpc.co.uk
‘The FCA’s “further decision notice” on Mr Tariq Carrimjee (senior partner and CEO of Somerset Asset Management) revealed that, the regulator has taken on board the Tribunal’s view that banning Mr Carrimjee from all regulated activity would be “irrational and disproportionate”, and it has instead decided to prohibit him from performing compliance oversight (CF10) and money laundering reporting functions (CF11).’
Financial Services Blog, 15th February 2016
Source: www.rpc.co.uk
‘Financial Ombudsman Service says claims made through third-party companies much less likely to be upheld.’
Daily Telegraph, 20th February 2016
Source: www.telegraph.co.uk
‘The FCA may for the first time create special rules to protect the interests of the elderly.’
Daily Telegraph, 20th February 2016
Source: www.telegraph.co.uk
‘The Financial Conduct Authority is expected to face criticism on Monday when MPs debate a motion on whether it is up to the job of regulating behaviour in the City.’
The Guardian, 31st January 2016
Source: www.guardian.co.uk
‘We look at how the ombudsman deals with complaints about age discrimination.’
Daily Telegraph, 25th November 2015
Source: www.telegraph.co.uk
‘A disabled teenager killed himself on the same day that the payday loans company Wonga cleared out his bank account, it has been revealed.’
Full story
The Guardian, 25th September 2015
Source: www.guardian.co.uk
‘The Financial Conduct Authority (FCA) is to consult on the issue of unsolicited marketing by consumer credit firms this summer, according to an answer given in the UK parliament.’
OUT-LAW.com, 1st July 2015
Source: www.out-law.com
‘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
‘A fraudster who scammed more than 100 investors out of £5.5m and spent nearly half to fund his lavish lifestyle has been jailed.’
The Guardian, 30th January 2015
Source: www.guardian.co.uk
‘A London banker who regularly avoided buying a train ticket on his commute to the City has been banned from working in the financial services industry.’
BBC News, 15th December 2014
Source: www.bbc.co.uk
‘The question as to whether a complainant was a consumer for the purposes of the Financial Conduct Authority’s compulsory jurisdiction dispute resolution rules was a matter of precedent fact to be decided by the courts; it was not a question for Financial Ombudsman Service to determine that was reviewable only on conventional (“Wednesbury”) grounds.’
WLR Daily, 20th October 2014
Source: www.iclr.co.uk
© Inner Temple Library 2019