Financial Disputes Update - November 2011
Welcome to the second 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 on the right.
Latest News
- Credit Suisse fined by FSA for SCARP misselling - private wealth industry clearly in the regulator's sights
- Court of Appeal stops short of confirming anonymity for bank employees reporting POCA suspicions
- Asserting privilege in FSA investigations
The quarter's hot topics
- R (on the application of A) v FSA - the FSA's discretion to publish decision notices is interpreted widely
- Rubenstein v HSBC - High Court ruling on bank's liability for losses in mis-selling claim
- Italian Court ruling threatens to undermine effectiveness of exclusive jurisdiction clauses
- Standard Chartered Bank v Ceylon Petroleum Corp: Commercial Court rules on issues of foreign law
- High court refuses to give anything other than a literal interpretation to a clause which gave rise to a "commercial absurdity"
- FSA crackdown on "layering" - Direct Market Access Providers beware
- Tribunal orders FSA to reduce penalty to public censure only
- The enforceability of sovereign debt: The effect of sovereign immunity
- Wilky Property v London & Surrey Investments Ltd - dispute resolution clause was an expert determination clause not an arbitration clause
News round-up
- Sir Ken Morrison fined £210,000 for breaches of the disclosure and transparency rules
- Treasury Select Committee announces inquiry into the Foreign and Commonwealth Office (FCO)
- FSA drops plans automatically to ban directors of failed banks
- FSA publishes statistics on PPI claims
- Germany: Proposed amendments to legislation regarding investor claims in capital markets - Brokers and investment advisers facing increased litigation risk (www.disputeresolutiongermany.com)
Lawyers Shane Gleghorn, Laurence Lieberman, Tim Strong, Paul Glass
