“A new system of regulation will oversee businesses in the financial services sector after reforms to the previous regime took effect on Monday.”
OUT-LAW.com, 2nd April 2013
Source: www.out-law.com
“New rules to govern the abuse of sales of ‘packaged accounts’ from banks have come into force.”
BBC News, 31st March 2013
Source: www.bbc.co.uk
“Britain’s new financial watchdog has pledged to clean up the financial services sector by using new powers to suspend or ban products if they appear harmful to consumers.”
The Guardian, 25th March 2013
Source: www.guardian.co.uk
“Lord Neuberger, President of the Supreme Court, made the following statement in open court this afternoon:
‘Yesterday morning, having heard full argument on the issue the previous day, we decided, for reasons to be given later – and, it should be added, by a majority of six to three – that we had power to consider the closed judgment of Mr Justice Mitting (‘the closed judgment’) in this case. This would involve part of this hearing being conducted in private without Bank Mellat or its representatives being present. We also indicated that, on the basis of the arguments we had so far heard, we were not persuaded that it was necessary to take such a course.'”
Supreme Court, 21st March 2013
Source: www.supremecourt.gov.uk
“Extraordinary developments in the Supreme Court today as the court, for the first time in its history, conducted a secret hearing during which one of the parties, an Iranian Bank, was not allowed to take part. Full background to the case, Bank Mellat (Appellant) v HM Treasury (Respondent) is here.”
UK Human Rights Blog, 21st March 2013
Source: www.ukhumanrightsblog.com
“The highest court in the land controversially sat in secret for the first time in its history today but insisted it had reached the decision with ‘great reluctance’.”
The Independent, 21st March 2013
Source: www.independent.co.uk
“The Supreme Court could use secret evidence in a ruling for the first time in a landmark case this week despite previously banning such material from civil courts.”
Daily Telegraph, 18th March 2013
Source: www.telegraph.co.uk
“There was no general rule that the Financial Services Authority acting pursuant to a public duty should be required to give to the court a cross-undertaking in damages in favour of third parties affected by the obtaining of a freezing injunction under section 380(3) of the Financial Services and Markets Act 2000 and/or section 37(1) of the Senior Courts Act 1981.”
WLR Daily, 27th February 2013
Source: www.iclr.co.uk
“The financial ombudsman service is taking on 2,000 new cases a day following payment protection insurance (PPI) complaints, with numbers rising at “unprecedented” rates.”
BBC News, 4th March 2013
Source: www.bbc.co.uk
Supreme Court, 27th February 2013
“Businesses and governments are continuing to wrestle with the question of what can and cannot be considered ‘adequate’ IT security in compliance with regulations including data protection laws.”
OUT-LAW.com, 25th February 2013
Source: www.out-law.com
“A creditor was entitled to invoke the equitable doctrine of marshalling to claim the benefit of securities held by a doubly-secured creditor even if the two securities did not both come from a debtor if one of the securities derived from a principal for whom the debtor stood surety.”
WLR Daily, 14th February 2013
Source: www.iclr.co.uk
“Britain’s four biggest accountancy firms have been heavily criticised by the Competition Commission.”
BBC News, 22nd February 2013
Source: www.bbc.co.uk
Santander UK plc v Harrison and another [2013] EWHC 199 (QB); [2013] WLR (D) 67
“The rescheduling of a mortgage agreement did not amount to providing credit ‘in the form of a cash loan’ for the purposes of article 4(1) of the Consumer Credit Act 2006 (Commencement No 4 and Transitional Provisions) Order 2008.”
WLR Daily, 7th February 2013
Source: www.iclr.co.uk
“Antonio Horta-Osorio came under more pressure today after Lloyds Banking Group was slammed with a £4.3 million fine for failing to pay compensation quickly enough to tens of thousands customers.”
The Independent, 19th February 2013
Source: www.independent.co.uk
“The Financial Services Authority (FSA) is assessing the cyber security plans of 30 major financial firms.”
OUT-LAW.com, 13th February 2013
Source: www.out-law.com
“Swiss bank UBS has been fined £9.45m and ordered to pay a similar sum in compensation for mis-selling an investment fund that took in more than £6bn from wealthy customers.”
The Guardian, 12th February 2013
Source: www.guardian.co.uk
VTB Capital plc v Nutritek and others [2013] UKSC 5; [2013] WLR (D) 41
“Where a claimant alleged that it had been induced by the fraudulent misrepresentations of a third party to enter a contract with a company, and sought to make a contractual claim against the third party as being jointly and severally liable with the company, it was not appropriate for the court to pierce the corporate veil, even if it could do so on appropriate facts, since to do so would render the third party liable as if he had been a co-contracting party with the company when he had not, and when none of the contracting parties, including the claimant, had intended that he should be.”
WLR Daily, 6th February 2013
Source: www.iclr.co.uk
Supreme Court, 6th February 2013
“Royal Bank of Scotland (RBS) has been fined £390m ($610m) by UK and US authorities for its part in the Libor rate-fixing scandal.”
BBC News, 6th February 2013
Source: www.bbc.co.uk
© Inner Temple Library 2025