‘Financial services companies operating in the UK can make use of cloud-based services without falling foul of regulatory obligations, the Financial Conduct Authority (FCA) has said. However, firms may be disappointed that some of the guidance is not more specific or prescriptive in some areas, an expert has said.’
OUT-LAW.com, 8th July 2016
Source: www.out-law.com
‘Fines imposed by the Financial Conduct Authority (FCA) in the first half of 2016 have fallen to £7.2m – less than 1% of the figure of a year before.’
The Guardian, 3rd July 2016
Source: www.guardian.co.uk
‘Guidance and specimen policy documents to help quoted companies comply with new market abuse rules when dealing in shares have been published by the UK’s main trade bodies for governance professionals and general counsel.’
OUT-LAW.com, 29th June 2016
Source: www.out-law.com
‘Damian Clarke, a former equities trader at Schroders Investment Management, has been sentenced to two years in prison for insider trading.’
The Guardian, 13th June 2016
Source: www.guardian.co.uk
‘Bank of England boss Mark Carney should listen to those who fear regulators need to do more to stop continued bad practice in the financial sector.’
The Guardian, 5th June 2016
Source: www.guardian.co.uk
‘Penal charges applying to people who want to access their retirement savings are to be banned by the City watchdog, the Financial Conduct Authority.’
Daily Telegraph, 26th May 2016
Source: www.telegraph.co.uk
‘Two men who were part of the most complex insider dealing ring uncovered by the City watchdog have been sentenced to a total of eight years in prison.’
Daily Telegraph, 12th May 2016
Source: www.telegraph.co.uk
‘Those suspected of money laundering could be required to explain the origins of any unexpected wealth or risk forfeiture as part of a package of measures put forward for consultation by the UK government.’
OUT-LAW.com, 25th April 2016
Source: www.out-law.com
‘Asset Land’s appeal rejected by the supreme court but the City regulator says investors “are likely only to get a fraction of their money back”.’
The Guardian, 20th April 2016
Source: www.guardian.co.uk
‘A major review of new pension freedoms announced by George Osborne last year is to be carried out by the Financial Conduct Authority amid fears of mis-selling.’
Daily Telegraph, 6th April 2016
Source: www.telegraph.co.uk
‘On 24 February 2016, in R (Holmcroft Properties Limited) -v- KPMG LLP and others, the Divisional Court dismissed Holmcroft’s judicial review challenge to the skilled person’s role in a mis-selling redress scheme. The skilled person, KPMG, had approved Barclays’ rejection of Holmcroft’s claims for consequential losses it claimed to have suffered as a result of the mis-sale. The court found that the skilled person was not amenable to judicial review and that, in any event, it had acted fairly.’
Henderson Chambers, 3rd March 2016
Source: www.hendersonchambers.co.uk
‘A claim against Royal Bank of Scotland (RBS), including allegations of rigging the LIBOR rate, has been transferred to the new Financial List even though the move means bringing in a new judge.’
Litigation Futures, 1st March 2016
Source: www.litigationfutures.com
‘Data collected by the Financial Conduct Authority (FCA) is insufficient to prove whether regulatory interventions have had an effect on mis-selling by financial firms, the UK’s public spending watchdog has said.’
OUT-LAW.com, 26th February 2016
Source: www.out-law.com
‘The Financial Conduct Authority is expected to face criticism on Monday when MPs debate a motion on whether it is up to the job of regulating behaviour in the City.’
The Guardian, 31st January 2016
Source: www.guardian.co.uk
‘The ‘financial list’ launched by the High Court in October last year for claims linked to the financial markets and worth over £50m is “operating well”, Mr Justice Blair has said.’
Litigation Futures, 27th January 2016
Source: www.litigationfutures.com
‘Audit and accountancy firms who devise tax-avoidance schemes ruled unlawful have never faced official reprimand, The Independent can reveal. None of the so-called “Big Four” firms – PricewaterhouseCoopers (PwC), KPMG, Deloitte & Touche and Ernst & Young – has ever faced regulatory investigation for such schemes. Court rulings condemning unlawful avoidance schemes are regularly overlooked by regulators.’
The Independent, 18th January 2016
Source: www.independent.co.uk
‘In BNY Mellon Corporate Trustee Services Ltd v LBG Capital No.1 and No. 2 Plc, the Court of Appeal reversed the first instance decision of the High Court, by allowing early redemption of certain convertible securities (known as Enhanced Capital Notes, or ECNs).’
Commercial Disputes Blog, 4th January 2016
Source: www.rpc.co.uk
‘This article by Daniel Northall was first produced for and published by LawinSport.com . Daniel examines the legal implications of the recent controversy1 concerning the mis-selling of investments2 to high net worth individuals, notably footballers.3 Specifically, it explores the nature of the problem, including the investments made, how they might come to be mis-sold, and the avenues available to a footballer who has sustained substantial losses through mis-sold investments. It will be particularly relevant to footballers and their professional advisors.’
Littleton Chambers, 12th January 2016
Source: www.littletonchambers.com
‘The acting chief executive of the City watchdog has denied claims it has gone soft on banks following the decision to drop its inquiry into banking culture.’
The Guardian, 9th January 2016
Source: www.guardian.co.uk
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