Financial Disputes Update - July 2011

Welcome to the first edition of the Taylor Wessing financial disputes and contentious regulatory newsletter. Every quarter, we will update you on important developments including recent case law, regulatory decisions, market intelligence and other topical news of interest to our clients in these sectors. If you would like to discuss any of the issues raised, please feel free to call any of the contacts listed.

• High court recognises importance of protecting the identity of employees reporting suspicions under the Proceeds of Crime Act
• Bound by an estimate
  ING v Ros Roca
• Bank Leumi v Wachner
  Obligation to take reasonable steps under the Conduct of Business rules to classify customers
• High Court awards a Non-Party Costs Orders against funders of Defence
  Merchantbridge & Co Ltd and another v Safron General Partner 1 Ltd and others [2011] EWHC 1524 (Comm)
• Use of injunctions by the FSA to restrain market abuse
  A US approach to enforcement?
• FSA fines compliance officer and bans him from life
• FSA uses new power to publish decision notices referred to the Tribunal
• Implementation of Basel III
  Draft law to be published by the EU in July 2011
• FSA emphasis on data integrity / trade reporting
  Marketwatch 39
• The Financial Ombudsman Service Annual Review
• The FSA Annual Review 2010/2011
• The Bribery Act
  Key points

Lawyers Shane Gleghorn, Laurence Lieberman, Tim Strong, Paul Glass