Archive for the 'financial regulation' Category

British Bankers’ Association v Financial Services Authority and another – WLR Daily

British Bankers’ Association v Financial Services Authority and another [2011] EWHC 999 (Admin); [2011] WLR (D) 144

“The Financial Services Authority was not contrained by the existence of statutory powers in section 404 of the Financial Services and Markets Act 2000 from using other powers to deal with what it perceived as the widespread mis-selling of payment protection insurance (PPI) policies by banks. Neither the language of section 404 itself nor its role as part of the overall regulatory framework could warrant the implication in it of a restriction on all other powers merely because the circumstances warranting the operation of a section 404 scheme were satisfied.”

WLR Daily, 20th April 2011

Source: www.iclr.co.uk

Please note that once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

House of Lords report attacks ‘complacency’ of Big Four auditors in financial crisis, urges competition investigation – Daily Telegraph

“The House of Lords has recommended that Britain’s competition authorities investigate the world’s ‘Big Four’ auditing firms who failed to warn regulators about banks before the financial crash.”

Full story

Daily Telegraph 30th March 2011

Source: www.telegraph.co.uk

Solicitor struck off over ‘land banking’ scheme – Law Society’s Gazette

“A solicitor involved in a ‘land banking’ scheme which cost investors their life savings was struck off by the Solicitors Disciplinary Tribunal last week.”

Full story

Law Society’s Gazette. 10th March 2011

Source: www.lawgazette.co.uk

Home owners receive compensation after they were sold mortgages they couldn’t afford – Daily Telegraph

“Home owners who were sold mortgages during the property boom that they couldn’t afford are to be given compensation following a ruling by the City watchdog.”

Full story

Daily Telegraph, 22nd February 2011

Source: www.telegraph.co.uk

Financial watchdogs get new powers – The Guardian

“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.”

Full story

The Guardian, 17th February 2011

Source: www.guardian.co.uk

In re Digital Satellite Warranty Cover Ltd and others – WLR Daily

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.

Housing and legal bodies warn of ‘dire consequences’ from new mortgage rules – The Guardian

“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.”

Full story

The Guardian, 16th November 2010

Source: www.guardian.co.uk


July 2017
M T W T F S S
« May    
 12
3456789
10111213141516
17181920212223
24252627282930
31  

Categories