“Home Secretary Theresa May says illegal immigrants will find it much harder to set up home in the UK under new laws. The Immigration Bill will require banks to check the immigration status of people applying to open accounts, and private landlords to make similar checks on their tenants.”
BBC News, 10th October 2013
Source: www.bbc.co.uk
“Senior bankers could face criminal charges for ‘reckless’ misconduct leading to the fall of a bank, under new UK government plans.”
BBC News, 1st October 2013
Source: www.bbc.co.uk
“New EU rules which will cap bankers’ bonuses will lead to an increase in fixed salaries, ‘undermining’ global reforms to promote greater responsibility in the banking sector, the UK Government has said.”
OUT-LAW.com, 27th September 203
Source: www.out-law.com
“This week has brought further news on the Libor interest rate fixing saga, with UK broker ICAP receiving an $87m fine.”
Competition Bulletin from Blackstone Chambers, 26th September 2013
Source: www.competitionbulletin.com
“The UK Treasury has launched a legal challenge against European Union (EU) plans to cap bankers’ bonuses.”
BBC News, 25th September 2013
Source: www.bbc.co.uk
“A convicted paedophile has lost a legal challenge against rules requiring him to disclose bank details to police.”
BBC News, 18th September 2013
Source: www.bbc.co.uk
“A term was not to be implied into a mezzanine lending agreement that a bank, which had acted as agent for two special purpose vehicles (‘SPVs’) when they participated as junior lenders in such structured lending to a property company which subsequently collapsed, was obliged to disclose to the SPVs material financial information in its possession as to the declining health of the company.”
WLR Daily, 3rd September 2013
Source: www.iclr.co.uk
“The financial industry regulator is to conduct a review of the way in which customer complaints to banks and building societies are handled, one of its directors has confirmed.”
OUT-LAW.com, 4th September 2013
Source: www.out-law.com
“Solicitor General makes the opening speech of the 31st Cambridge International Symposium on Economic Crime Originally given at Cambridge.”
Attorney General’s Office, 2nd September 2013
Source: www.gov.uk/ago
“Around 7 million people are set to share up to £1.3bn in compensation after 13 high street banks and credit card companies agreed to offer redress for mis-sold credit card and identity theft protection.”
The Guardian, 22nd August 2013
Source: www.guardian.co.uk
“The taxpayer faces a bill for up to £1 billion after the Government was sued by an Iranian bank that claimed it had been wrongly placed on a sanctions blacklist.”
Daily Telegraph, 19th August 2013
Source: www.telegraph.co.uk
“Two in three customers who complain to the Financial Ombudsman about the mis-selling of paid-for bank accounts are successfully winning money back or compensation, figures show.”
Daily Telegraph, 7th August 2013
Source: www.telegraph.co.uk
“The Court of Appeal has dealt a blow to businesses bringing claims against banks for allegedly mis-selling interest rate swaps products by dismissing a claim against the Royal Bank of Scotland.”
Law Society’s Gazette, 5th August 2013
Source: www.lawgazette.co.uk
“Gurprit Mattu gives an overview of the newly formed FCA and the workings of the Enforcement and Financial Crime Division. During her time at the FSA/FCA she has been able to see the transition from the old to the new regulator at first hand.”
Full story (PDF)
Dyers Chambers, 11th July 2013
Source: www.dyerschambers.com
“On 19 June 2013, the Supreme Court gave judgment in the case of Bank Mellat v HM Treasury (No. 1) and (No. 2). Gavin Irwin reviews the latest developments in the deployment of sanctions against Iran and the tensions that can arise between international organisations, nation states and commercial entities.”
Full story (PDF)
Dyers Chambers, 11th July 2013
Source: www.dyerschambers.com
On 20th June 2013, Tom Hayes, a former trader with UBS, appeared before Westminster Magistrates Court charged with eight counts of fraud. He is the first individual to be prosecuted as a result of the SFO’s investigation into the LIBOR scandal. Peter Caldwell reviews the background to the investigation and examines the challenges that lie ahead for the Serious Fraud Office.
Full story (PDF)
Dyers Chambers, 11th July 2013
Source: www.dyerschambers.com
“On 9 July I looked at a Court of Appeal decision which showed that it remained arguable that a change in the arrangements between a creditor and the principal debtor might so alter the subject matter of what was guaranteed as to discharge the guarantor. This week comes a timely reminder that the first and fundamental step is to construe the contract to see what obligations are covered by the guarantee.”
Littleton Chambers, 19th July 2013
Source: www.littletonchambers.com
“Giles Bedloe, who acted as junior counsel in SFO v Williams reviews the recent statements of the Court of Appeal in Attorney General’s Reference Nos. 7 & 8 of 2012 and R v Levene [2013] EWCA 709.”
Full story (PDF)
Dyers Chambers, 11th July 2013
Source: www.dyerschambers.com
JSC BTA Bank v Ablyazov (No 10) [2013] EWCA Civ 928; [2013] WLR (D) 305
“In determining the meaning of the term ‘assets’ in a freezing order, account should be taken, as part of the background and context of such orders, of their purpose, in the way that anyone construing any document should take account of the background of it. Where the words used clearly and unequivocally led to the conclusion that the term ‘asset’ included that which could not be the subject of execution, effect must be given to the words. Where they did not, the purpose of such orders would be a significant factor in determining the meaning of the term ‘asset’ in that context and a pointer against including the particular right under consideration.”
WLR Daily, 25th July 2013
Source: www.iclr.co.uk
“The Criminal Justice Act 1987 did not prevent the Serious Fraud Office from disclosing, pursuant to a court order in civil proceedings, documents which in the course of an investigation had been provided to it by third parties in response to notices under section 2 of the Act.”
WLR Daily, 18th July 2013
Source: www.iclr.co.uk
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