UK Finance Disputes and Regulatory Investigations Blog

Financial Markets Awareness: Practical Legal Insight

Latest from UK Finance Disputes and Regulatory Investigations Blog

UK Finance Disputes and Regulatory Investigations Blog

Beware of Quincecare – an update from the Supreme Court

November 19, 2019

In February 2018, we reported here that the Court of Appeal had rejected a stockbrocker’s (Daiwa Capital Markets Europe Ltd (“Daiwa“)) appeal against the High Court’s decision that it owed a client (Singularis Holdings Limited (“Singularis“)) a Quincecare duty.…

UK Finance Disputes and Regulatory Investigations Blog

Business Banking Resolution Service launches new dispute resolution pilot for larger SMEs: a new Financial Ombudsman Service?

By Garon Anthony & Mariyam Harunah

November 6, 2019

On 1 November 2019, the Business Banking Resolution Service (“BBRS”) launched a new dispute resolution pilot in preparation for the introduction of its new service, which was originally announced in November 2018 by UK Finance, a trade body for British lenders. The service aims to provide alternative dispute resolution services for “larger” eligible small and medium sized enterprises (“SMEs”) and participating banks, in order to deliver what is said to be stronger and fairer outcomes.…

UK Finance Disputes and Regulatory Investigations Blog

Openness and co-operation: FCA continues to drive home its Principles

By Garon Anthony & Rose Chaudry

November 4, 2019

A spate of final notices issued by the FCA over the last month highlights the volume of breaches by firms failing to deal with the regulator in an “open and cooperative” manner.…

UK Finance Disputes and Regulatory Investigations Blog

Client communications remain subject to legal advice privilege notwithstanding dissolution and Crown disclaimer

By Garon Anthony

October 28, 2019

The Court of Appeal’s recent decision in Addlesee & Ors v Dentons Europe LLP has confirmed that the documents of a dissolved company remain subject to legal advice privilege (“LAP“) even if there is no longer a benefitting client entitled to assert LAP.…

UK Finance Disputes and Regulatory Investigations Blog

FCA fines Tullet Prebon over £15 million for breaches of Principles of Businesses

By Garon Anthony & Mariyam Harunah

October 21, 2019

The FCA has fined Tullet Prebon (Europe) Limited (“Tullet”) £15.4 million for a series of serious conduct failures and lapses in management control around its broker division.…

UK Finance Disputes and Regulatory Investigations Blog

PRA updates its policy on settlement of enforcement action

By Garon Anthony & Rose Chaudry

October 11, 2019

Back in the Summer we reported on the Prudential Regulation Authority’s (“PRA”) explanation of its approach to enforcment action against those who the PRA think have broken the rules. In a further development last week the PRA updated its policy on settlement of enforcement action (“Updated Policy”), which consolidates proposals in its April 2019 consultation report (CP10/19). It aims to simplify and clarify the settlement procedure and discount scheme.…

UK Finance Disputes and Regulatory Investigations Blog

Cyber risk: BoE reports on SIMEX 2018

By Garon Anthony

October 2, 2019

In previous blogs, we have commented on the threat posed to the financial services sector by cyber risk and the potentially drastic consequences for all participants of a cyber-attack.…

UK Finance Disputes and Regulatory Investigations Blog

Lessons in ensuring suitability of advice from the FCA

By Garon Anthony

September 23, 2019

Debbie Gupta, FCA Director of Life Insurance and Financial Advice Supervision, spoke at a conference last week about how financial advisers might improve the suitability of their advice to clients and at the same time reduce the risk of client complaints (or at least improve the chances of successfully defending them).…

UK Finance Disputes and Regulatory Investigations Blog

FCA voices concerns about “epidemic” levels of fraud in the UK

By Garon Anthony

September 17, 2019

In a recent speech given at the Cambridge Economic Crime Symposium, the Chairman of the Financial Conduct Authority (FCA), Charles Randell, discussed the growing “epidemic” of fraud across the UK, and the need for collaboration in both the public and private sectors to fight more effectively against investment fraud.…

UK Finance Disputes and Regulatory Investigations Blog

English Court of Appeal judgment recognises the importance of industry standard ISDA Master Agreement terms when challenged by a competing jurisdiction clause in a financing agreement

By Jeremy Ladyman, Thomas Bowie & Chris Webber

September 12, 2019

The Court of Appeal has confirmed that a jurisdiction clause that elects the English courts in an ISDA Master Agreement prevails when the underlying swap transaction forms part of a wider financing arrangement that is subject to the jurisdiction of the Turin courts: BNP Paribas SA v Trattamento Rifiuti Metropolitani SPA [2019] EWCA Civ 768.…

UK Finance Disputes and Regulatory Investigations Blog

Financial Markets Awareness: Practical Legal Insight

Blog Authors

Beware of Quincecare – an update from the Supreme Court

Business Banking Resolution Service launches new dispute resolution pilot for larger SMEs: a new Financial Ombudsman Service?

Openness and co-operation: FCA continues to drive home its Principles

Client communications remain subject to legal advice privilege notwithstanding dissolution and Crown disclaimer

FCA fines Tullet Prebon over £15 million for breaches of Principles of Businesses

PRA updates its policy on settlement of enforcement action

Cyber risk: BoE reports on SIMEX 2018

Lessons in ensuring suitability of advice from the FCA

FCA voices concerns about “epidemic” levels of fraud in the UK

English Court of Appeal judgment recognises the importance of industry standard ISDA Master Agreement terms when challenged by a competing jurisdiction clause in a financing agreement

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