Rose Chaudry

Blogs: UK Finance Disputes and Regulatory Investigations Blog

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UK Finance Disputes and Regulatory Investigations Blog

Money-laundering prison sentences reach record high

By Garon Anthony & Rose Chaudry on September 9, 2019

The average prison sentence for money-laundering has increased by 8% in the last year, according to new research. The research by Thomson Reuters revealed that average jail time increased to 27 months in 2018, up from 25 months in 2017.…

UK Finance Disputes and Regulatory Investigations Blog

Outsourcing Failures leave Raphaels Bank with £1.89m Fine

By Garon Anthony & Rose Chaudry on June 7, 2019

Raphael & Sons plc (the “Bank“) has been hit by separate fines from the Financial Conduct Authority and the Prudential Regulation Authority (together, the “Regulators“) of £775,100 and £1,112,152 respectively. An IT issue with one of the Bank’s third party card processor’s left over 3,300 customers unable to use their prepaid cards on Christmas Eve in 2015. This event crystallised the risks that the Bank had failed to manage, but the Bank’s failings went deeper…

UK Finance Disputes and Regulatory Investigations Blog

The Partly Contested Process – a part success?

By Garon Anthony & Rose Chaudry on April 18, 2019

A recent speech by the Director of Enforcement and Market Oversight at the Financial Conduct Authority (“FCA”) has highlighted the progress of the partly contested process for disciplinary action. The first three cases using the process have now completed, although only details as to the first two cases were available as the time of going to press.…

UK Finance Disputes and Regulatory Investigations Blog

FCA gives a final warning on misleading adverts

By Garon Anthony & Rose Chaudry on April 16, 2019

Back in January, the Financial Conduct Authority (“FCA”) published a letter to the CEOs of regulated firms warning them against misleading financial promotions. As we noted in our previous blog, onthe subject, the letter specifically concerned firms not making clear which parts of their business are subject to FCA regulation and, importantly, which are not. It appears that the letter may not have had the desired effect.…

UK Finance Disputes and Regulatory Investigations Blog

A New Duty of Care for Financial Services Firms?

By Garon Anthony & Rose Chaudry on February 25, 2019

Earlier this month the Financial Conduct Authority (“FCA”) updated its website with its plans to announce in Spring 2019 the next stage in its ongoing consultation on the introduction of a new duty of care for financial services firms (“New Duty”).…

UK Finance Disputes and Regulatory Investigations Blog

A second chance for PPI complaints?

By Garon Anthony & Rose Chaudry on February 12, 2019

The Financial Conduct Authority (“FCA“) has ordered firms to write to some complainants with previously rejected PPI complaints to tell them they may now be able to make a new complaint about alleged mis-selling.…

UK Finance Disputes and Regulatory Investigations Blog

English High Court dismisses US $45 million fraud claim where proceedings already up and runnning in a Court in another jurisdiction

By Garon Anthony & Rose Chaudry on February 6, 2019

Where a claimant has already issued related Court proceedings in another jurisdiction, the English Court is unlikely to be the appropriate forum for the trial of a claim, according to the recent High Court decision in Punjab National Bank (International) Ltd v Srinivasan and others [2019] UKHC 89 (Ch).…

UK Finance Disputes and Regulatory Investigations Blog

FCA consults on the regulation of ‘crypto firms’

By Garon Anthony & Rose Chaudry on January 30, 2019

The Financial Conduct Authority (“FCA”) has published a consultation paper (“Guidance”) providing guidance on the regulation of cryptoasset activities.…

UK Finance Disputes and Regulatory Investigations Blog

Happy New Year from the FCA. First fines of 2019 confirm the largest ever for an individual

By Garon Anthony & Rose Chaudry on January 18, 2019

After a relatively quiet year for fines in 2018, the Financial Conduct Authority (“FCA“) has already published two Final Notices this week confirming the first fines of 2019 that total over £79 million.…

UK Finance Disputes and Regulatory Investigations Blog

FCA warns firms about misleading financial promotions for unregulated products

By Garon Anthony & Rose Chaudry on January 15, 2019

Last week, the Financial Conduct Authority (“FCA”) published a letter addressed to the CEOs of all regulated firms concerning financial promotions. In particular, the FCA highlighted its concerns over financial promotions that falsely implied that all of a firm’s activities were regulated by the FCA or the Prudential Regulation Authority (“PRA”), when in fact they were not.…

Rose Chaudry

Money-laundering prison sentences reach record high

Outsourcing Failures leave Raphaels Bank with £1.89m Fine

The Partly Contested Process – a part success?

FCA gives a final warning on misleading adverts

A New Duty of Care for Financial Services Firms?

A second chance for PPI complaints?

English High Court dismisses US $45 million fraud claim where proceedings already up and runnning in a Court in another jurisdiction

FCA consults on the regulation of ‘crypto firms’

Happy New Year from the FCA. First fines of 2019 confirm the largest ever for an individual

FCA warns firms about misleading financial promotions for unregulated products

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