“Investors and consumers will be given greater protection by new financial watchdogs which will have the power to ban retail products and reveal pending enforcement actions against banks and brokers.”
The Guardian, 17th February 2011
Source: www.guardian.co.uk
In re Digital Satellite Warranty Cover Ltd and others [2011] EWHC 122 (Ch); [2011] WLR (D) 28
“A contract for repair or replacement only in the event of breakdown or malfunction which did not oblige the insurer to indemnify the insured for costs which the insured himself incurred fell within para (b) of class 16 Schedule 1 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001.”
WLR Daily, 1st February 2011
Source: www.lawreports.co.uk
Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.
“A coalition of the UK’s leading housing and legal organisations have written to Chancellor George Osborne warning of ‘dire consequences’ for homebuyers and the building industry if Financial Service Authority proposals for mortgage regulation are implemented.”
The Guardian, 16th November 2010
Source: www.guardian.co.uk
“Long term investors’ interests are too easily damaged by hostile takeovers, the Takeover Panel has said. It will amend the City’s rules on takeovers of publicly traded companies to protect the existing shareholders of target companies.”
OUT-LAW.com, 21st October 2010
Source: www.out-law.com
“The Financial Services Authority has fined Goldman Sachs £20m after the investment bank failed to tell the regulator a member of staff at the centre of fraud charges in the US was working in the UK.”
The Guardian, 9th September 2010
Source: www.guardian.co.uk
“Eight former partners of collapsed Leeds firm Fox Hayes have been held personally responsible for a fine of nearly £1m which was levied against the firm 18 months ago by the Financial Services Authority and remains unpaid.”
Law Society’s Gazette, 19th August 2010
Source: www.lawgazette.co.uk
“Nearly three million people who took out payment protection insurance (PPI) sold by banks and other lenders could be in line for compensation totalling more than £2bn after the Financial Services Authority today issued new rules on how firms should handle the flood of complaints over mis-selling.”
The Guardian, 10th August 2010
Source: www.guardian.co.uk
“Royal Bank of Scotland has been fined £5.6m by the Financial Services Authority for failing to adequately screen customers and payments to prevent its banks – RBS, NatWest, Ulster Bank and Coutts – from being used for money laundering or the financing of terrorist activities.”
The Guardian, 3rd August 2010
Source: www.guardian.co.uk
Regina v Rollins [2010] UKSC 39; [2010] WLR (D) 210
“The power of the Financial Services Authority to institute criminal proceedings was not limited to the offences referred to in ss 401 and 402 of the Financial Services and Markets Act 2000; in particular the FSA had power to prosecute offences of money laundering under ss 327 and 328 of the Proceeds of Crime Act 2002.”
WLR Daily, 30th July 2010
Source: www.lawreports.co.uk
Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.
“The City watchdog is considering whether Britain can claim exemption from European laws that will introduce the toughest pay restrictions in the world.”
Daily Telegraph, 7th July 2010
Source: www.telegraph.co.uk
“Three men accused of orchestrating a spectacularly ambitious Ponzi scheme from offices in Knightsbridge are unlikely to return much, if any, of £115m owed to investors, the Financial Services Authority said today after securing a high court order enforcing repayment.”
The Guardian, 29th June 2010
Source: www.guardian.co.uk
“Plans for the shake-up of financial services regulation announced by UK Chancellor George Osborne last night raise more questions than answers, according to banking and financial legal experts.”
OUT-LAW.com, 17th June 2010
Source: www.out-law.com
“Two banks face a financial penalty for poor complaints handling after the Financial Services Authority (FSA) identified weaknesses in how they handled customer problems.”
Daily Telegraph, 28th April 2010
Source: www.telegraph.co.uk
“The definition of market abuse in s 118 of the Financial Services and Markets Act 2000 did not require the person engaging in the behaviour in question to have intended to abuse the market and accordingly it was not essential for such an intention or purposes to be present for behaviour to fall below the objective standards expected. Moreover, the regulatory regime introduced by the Act and its Code of Conduct did not offend against the principle of legal certainty, once it was appreciated that the provisions of the Code, other than those falling within s 122(1) of the Act, were intended to have no more than evidential effect.”
WLR Daily, 26th April 2010
Source: www.lawreports.co.uk
Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.
“A former proprietary trader at Merrill Lynch, who mispriced trades in a desperate bid to cover up some of the $456m (£300m) of losses he had racked up, was banned from working in the industry for at least five years.”
The Guardian, 16th March 2010
Source: www.guardian.co.uk
“A former Dresdner Kleinwort investment banker and his wife have been charged with insider dealing as part of an ongoing effort by the Financial Services Authority to crack down on market abuse, which the watchdog admitted over the weekend was still ‘unacceptably high’ in the City.”
The Guardian, 15th March 2010
Source: www.guardian.co.uk
“A former top executive at one of the City’s most prestigious banks faces jail after being found guilty of insider dealing.”
The Guardian, 10th March 2010
Source: www.guardian.co.uk
“Co-operation between national financial regulators was of the greatest importance, particularly where there were suspicions or allegations of fraud. The Financial Services Authority was entitled to assist the US Security and Exchange Commission in a share fraud investigation without subjecting its request for help to critical examination. The FSA was required only to comply with the requirements of statute, and the terms of memoranda of understanding were immaterial. There was no requirement to provide notice under s 170(2) of the Financial Services and Markets Act 2000.”
WLR Daily, 24th February 2010
Source: www.lawreports.co.uk
Please note once a case has been reported in one of the ICLR series the corresponding WLR Daily summary is removed.
“A billion-pound property fund was fined £1,000 this week for breaching takeover rules. But a change in the law means similar offences in future could attract unlimited penalties.”
OUT-LAW.com, 18th February 2010
Source: www.out-law.com
© Inner Temple Library 2025