“One of the difficulties encountered when advising clients as to the merits of their claim that they have been mis-sold an Interest Rate Hedging Product (IRHP), usually an Interest Rate Swap, is the paucity of decided case law concerning the sale of such products.”
No. 5 Chambers, 21st October 2013
Source: www.no5.com
“Speech at City of London Guildhall on the central importance to the British economy of the rule of law.”
Attorney General’s Office, 14th October 2013
Source: www.gov.uk/ago
“An attempt by MasterCard to avoid a multi-billion damages claim from a dozen retailers because the monthly due diligence costs charged by its lawyers at Jones Day could be as much as £700,000 has been rejected by the High Court.”
The Lawyer, 16th October 2013
Source: www.thelawyer.com
“HM Revenue and Customs (HMRC) will be given ‘too much discretion’ to ‘name and shame’ banks that do not meet strict governance requirements in relation to tax matters under proposed changes to the industry Code of Practice, an expert has said.”
OUT-LAW.com, 14th October 2013
Source: www.out-law.com
“We have seen Santander having trouble in mortgage possession proceedings in Northern Ireland recently. Here is another example which could perhaps, indeed maybe should, have been avoided, if the lender had actually taken proceedings sufficiently seriously.”
NearlyLegal, 11th October 2013
Source: www.nearlylegal.co.uk
“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
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