‘Car hire purchase deals are now among most complained about policies in Britain, Ombudsman figures show.’
Daily Telegraph, 12th June 2017
Source: www.telegraph.co.uk
‘Requests from foreign authorities for the UK’s assistance in anti money laundering (AML) investigations rose last year to record levels.’
OUT-LAW.com, 12th June 2017
Source: www.out-law.com
‘Complaints about payday loans have risen sharply for the second consecutive year despite strict new regulations limiting interest charges.’
BBC News, 13th June 2017
Source: www.bbc.co.uk
‘HMRC has stepped up its criminal investigations into corporates, without waiting for the new corporate offence of failing to prevent the facilitation of tax evasion to become effective Large companies should refresh their raids and critical incident procedures in case HMRC officers appear without warning.’
OUT-LAW.com, 5th June 2017
Source: www.out-law.com
‘Victims of a failed unauthorised collective investment scheme (UCIS) can expect to receive about 40% of their investment back after the regulator secured two final confiscation orders from some of the major players in the scheme.’
OUT-LAW.com, 26th May 2017
Source: www.out-law.com
‘Victims of a land investment scam are to receive almost £2.2m in compensation after money was clawed back by the City watchdog from the eight men who were convicted of the fraud following one of the biggest investigations by the regulator. The Financial Conduct Authority (FCA) has now secured confiscation orders against all eight defendants who were found to have taken over £5m from more than 100 investors through an unauthorised investment scheme that was focused on agricultural land.’
Daily Telegraph, 24th May 2017
Source: www.telegraph.co.uk
‘A summary of legally noteworthy judicial reviews and High Court appeals regarding professional disciplinary panels and their decisions.’
Cloisters, 11th May 2017
Source: www.cloisters.com
‘The UK’s Financial Conduct Authority (FCA) has opened a review into business models in retail banking to assess the impact those models are having on competition and conduct in the market.’
OUT-LAW.com, 12th May 2017
Source: www.out-law.com
‘Business and consumer insurance policyholders may now pursue their insurers in the courts if they do not settle claims within a reasonable amount of time.’
OUT-LAW.com, 8th May 2017
Source: www.out-law.com
‘A group of investment trust companies (ITCs) cannot make out an ‘unjust enrichment’ claim against HM Revenue and Customs (HMRC) in order to recover VAT paid to their investment managers (managers) due to a mistake of law, the UK’s highest court has ruled.’
OUT-LAW.com, 25th April 2017
Source: www.out-law.com
‘The Financial Conduct Authority (FCA) will carry out an investment platforms market study in the coming year, it has announced.’
OUT-LAW.com, 20th April 2017
Source: www.out-law.com
‘”Irresponsible” car loans will be probed by the City watchdog amid suggestion that drivers could soon be made to pass mortgage-style affordability tests before leasing new motors.’
Daily Telegraph, 18th April 2017
Source: www.telegraph.co.uk
‘The Bank of England has written to UK financial services firms asking them to send a summary of their contingency plans for Brexit to the Prudential Regulatory Authority (PRA) by July.’
OUT-LAW.com, 10th April 2017
Source: www.out-law.com
‘Some people may prefer the quiet life choosing not to rock the boat unless they really have to. Others could feel that the only correct thing to do is to spill the beans.’
The Independent, 10th April 2017
Source: www.independent.co.uk
‘In 1494 Botticelli completed painting “the Calumny of Apelles.” It depicts an innocent painter, Apelles, who has been wrongly accused of capital crimes, dragged before the King’s throne by personifications of Slander, Ignorance, Suspicion and Envy. It hangs in the Uffizi today and is thought to have been commissioned by a Florentine banker. In the story Apelles is pardoned from death at the last minute when a third party tells the king that he could not possibly have committed the offence, but the painting captures the moment when Apelles seems inevitably about to meet a sticky end, surrounded and almost entirely enveloped by Slander, Ignorance and Suspicion. Was this commissioned by a worried banker, concerned that he might meet his professional end without the ability to put the record straight or see the underlying disclosure? In Renaissance Florence this is unlikely but it does seem to reflect (at least some) of the anxieties of those who work in regulated professions today, that they may be hampered from obtaining future employment because of their previous employer’s interactions with a regulator.’
Littleton Chambers, 3rd April 2017
Source: www.littletonchambers.com
‘Criticism can hurt. Public criticism by a regulator taking enforcement action can hurt more. The law has long sought to ensure that those potentially subject to criticism have an opportunity to answer what is said against them.’
Blackstone Chambers, 5th April 2017
Source: www.blackstonechambers.com
‘Until 1 March 2017, people subject to FCA enforcement proceedings faced a binary choice: either settle or contest. That is no longer so. A key change to the FCA’s enforcement process in a recent policy statement has now taken effect: the introduction of partly contested cases. This new option will no doubt be of considerable interest to the regulated community and their legal advisers.’
Blackstone Chambers, 5th April 2017
Source: www.blackstonechambers.com
‘Credit card companies could be required to take more active measures to help customers struggling with persistent debts, under plans outlined by the UK’s City regulator.’
OUT-LAW.com, 4th April 2017
Source: www.out-law.com
‘The UK’s financial watchdog has fined a former investment banker more than £37,000 after he used WhatsApp to leak information and “impress” a friend.’
Daily Telegraph, 30th March 2017
Source: www.telegraph.co.uk
‘The Financial Conduct Authority (FCA) did not improperly identify a manager at an investment bank in its final notice imposing a fine on that bank for losses incurred in a particular part of the business, the Supreme Court has ruled.’
OUT-LAW.com, 27th March 2017
Source: www.out-law.com
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