‘In March 2020, the UK Government began to take a series of measures to combat the transmission of COVID-19. The present appeals considered the impact of these actions and measures on 28 clauses in the 21 lead policies written by the Appellant Insurers.’
UKSC Blog, 15th January 2021
Source: ukscblog.com
‘The UK’s financial watchdog failed to properly supervise and regulate London Capital & Finance, a mini-bond provider, before the firm collapsed and wiped out the savings of thousands of people, an independent inquiry has concluded.’
The Guardian, 17th December 2020
Source: www.theguardian.com
‘Judgment in an urgent test case to determine whether businesses hit by Covid-19 will receive insurance pay-outs will not be handed down by the Supreme Court until January at the earliest. Five Supreme Court justices heard a case between the Financial Conduct Authority and six insurance companies in November. The dispute concerned business interruption insurance (BII) and the court was asked to rule on provisions in insurance policies relating to disease clauses, prevention of access clauses and hybrid clauses.’
Law Society's Gazette, 15th December 2020
Source: www.lawgazette.co.uk
‘The big news from today’s UK Supreme Court collective action decision in Mastercard v Merricks [2020] UKSC 51 is not only that Mr Merricks won and defeated the appeal, but that the Supreme Court approached the issues in a far more claimant-friendly way than even the Court of Appeal had done.’
Competition Bulletin from Blackstone Chambers, 11th December 2020
Source: competitionbulletin.com
‘The Supreme Court’s ruling against Mastercard will make it easier for group damages claims to proceed to trial, commentators have said. However, the card issuer’s solicitors have stressed the “very unusual circumstances” of the judgment, in which justices were divided on key issues.’
Law Society's Gazette, 11th December 2020
Source: www.lawgazette.co.uk
‘Eight months since the UK coronavirus lockdown forced the temporary closures of restaurants, bars, shops, hairdressers and other small businesses, thousands who are still awaiting payouts from their insurers to cover lost income will hope a supreme court hearing will result in a ruling that favours about 200,000 policyholders.’
The Guardian, 16th November 2020
Source: www.theguardian.com
‘The former business partner of the disgraced entrepreneur Gavin Woodhouse is being pursued by the Financial Conduct Authority in the high court over alleged links to care home investments in which investors appear to “have lost at least £30m”.’
The Guardian, 12th November 2020
Source: www.theguardian.com
‘At the end of 2021 the London Interbank Offered Rate (LIBOR) will be discontinued. In its place the Financial Conduct Authority is proposing a different rate to become the market standard, the Sterling Overnight Index Average (SONIA). What is the impact of LIBOR’s discontinuance on regulated credit agreements? How might regulated lenders approach a transfer to SONIA? Will the Government legislate to assist with the change?’
Henderson Chambers, 7th October 2020
Source: www.hendersonchambers.co.uk
‘The City regulator will on Monday begin a test case on behalf of thousands of businesses that claim they should have been paid by insurers to cover closures during the coronavirus pandemic.’
The Guardian, 20th July 2020
Source: www.theguardian.com
‘Lloyds Banking Group has been fined £64m by the City watchdog for failing to treat mortgage customers fairly after they fell into financial difficulty.’
The Guardian, 11th June 2020
Source: www.theguardian.com
‘The Financial Conduct Authority (FCA) has instructed City giant Herbert Smith Freehills for the test cases it intends to run on whether business interruption (BI) insurance covers the coronavirus pandemic.’
Litigation Futures, 18th May 2020
Source: www.litigationfutures.com
‘The European Banking Authority’s long-awaited inquiry into dividend arbitrage trading schemes (“Cum-Ex/Cum-Cum”) and 10-point action plan to enhance the future regulatory framework – what are the implications for UK financial institutions and the Financial Conduct Authority?’
5SAH, 13th May 2020
Source: www.5sah.co.uk
‘Britain’s financial watchdog is urgently seeking clarity from the courts over the insurance rights of companies whose business has been disrupted by the Covid-19 pandemic.’
The Guardian, 1st May 2020
Source: www.theguardian.com
‘The City watchdog is cracking down on UK banks that have been preying on corporate clients seeking financial help during the Covid-19 crisis.’
The Guardian, 28th April 2020
Source: www.theguardian.com
‘The Covid-19 crisis has led the Financial Conduct Authority to issue authoritative guidance to consumer credit lenders which will oblige them to grant a three month moratorium on debts and to reduce interest costs.’
Henderson Chambers, 9th April 2020
‘This note sets out some thoughts and information on the current crisis.’
11 KBW, 19th March 2020
Source: www.11kbw.com
‘City of London regulators tasked with mucking out the financial stables have been making a “shameful” mess of their own, it has emerged.’
BBC News, 13th November 2019
Source: www.bbc.co.uk
‘Investors who put their money into an airport parking scheme that went into liquidation earlier this year are hoping for compensation after the Financial Conduct Authority announced it was taking legal action against those behind the scheme.’
The Guardian, 20th October 2019
Source: www.theguardian.com
‘The Supreme Court will rule on a landmark case that will test the standards applied to a Collective Proceedings Order in a major competition claim. Permission has been granted for the defendant in Merricks v Mastercard Incorporated & Anor to bring its appeal against a Court of Appeal ruling from April this year.’
Law Society's Gazette, 4th October 2019
Source: www.lawgazette.co.uk
‘Certain open-ended retail funds that invest primarily in ‘illiquid’ assets, such as property, will be subject to new rules from next year, the Financial Conduct Authority (FCA) has announced.’
OUT-LAW.com, 1st October 2019
Source: www.pinsentmasons.com
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