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Financial Institutions Appeals United Kingdom

A&O Shearman

UK FCA issues updated Enforcement Information Guide

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The UK Financial Conduct Authority published an updated Enforcement Information Guide, which reflects changes in the FCA Handbook to its revised Enforcement Guide (ENFG) and the Decision Procedure and Penalties manual (DEPP)....more

Pillsbury Winthrop Shaw Pittman LLP

High Court of England and Wales Decision Clarifies “Lender Discretion”

Borrowers and lenders negotiating commercial loan agreements should use precise contractual language to avoid having terms implied into their agreements. In MacDonald Hotels Limited & Anr v Bank of Scotland Plc [2025] EWHC 32...more

A&O Shearman

Permission to appeal granted against Financial Ombudsman Service decision concerning motor finance discretionary commission...

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Barclays Partner Finance has been granted permission to appeal against the Administrative Court's judgment in R (Clydesdale Financial Services Ltd) v Financial Ombudsman Service Ltd [2024] EWHC 3237 (Admin)...more

A&O Shearman

UK Financial Conduct Authority Supports Expedition of Appeals of Motor Finance Decisions

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The U.K. Financial Conduct Authority has published a letter addressed to the Supreme Court regarding the applications for permission to appeal to the SC and requests for expedition in the recent motor finance commission...more

A&O Shearman

UK Financial Conduct Authority Consults on Further Temporary Changes to Handling Rules for Motor Finance Complaints

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The U.K. Financial Conduct Authority has published a consultation on further temporary changes to handling rules for motor finance complaints. The FCA explains that following the Court of Appeal's recent judgment on motor...more

Walkers

Jersey-registered Limited Liability Companies LLCs in financing transactions

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Limited Liability Companies ("LLCs") offer flexibility and familiarity to investment fund, corporate and finance industry participants, particularly those in the US market. US federal tax 'check-the-box' treatment is...more

A&O Shearman

Court of Appeal confirms FCA power to impose single-firm redress schemes

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The UK Court of Appeal has confirmed that the UK Financial Conduct Authority (FCA) has the power to impose single-firm schemes of redress where it considers this is desirable to satisfy one of its statutory operational...more

Guidepost Solutions LLC

How the UK High Court Decision on Forced Labor Impacts Your Supply Chain Due Diligence

The recent ruling by the U.K. Court of Appeal declared that the U.K. National Crime Agency’s decision not to investigate the importation of cotton produced through the use of Uyghur forced labor in China was unlawful. This...more

Skadden, Arps, Slate, Meagher & Flom LLP

Significant UK Court of Appeal Decision Confirms the Applicability of the UK’s Proceeds of Crime Legislation to Illegality in...

The UK Court of Appeal recently held that the National Crime Agency’s decision not to investigate whether cotton goods manufactured in China and imported to the UK were the product of forced labour was unlawful — a decision...more

A&O Shearman

Losing control: What the Mints Court of Appeal judgment means for UK sanctions

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On 6 October 2023, the Court of Appeal handed down judgment in the case of Mints & ors v PJSC National Bank Trust & anor [2023] EWCA 1332. The judgment confirmed that the UK’s sanctions do not preclude the English courts...more

White & Case LLP

Ask, and you shall receive – English Court of Appeal grants anti-suit injunction in support of foreign arbitration

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In Deutsche Bank AG v RusChemAlliance LLC [2023] EWCA Civ 1144, the English Court of Appeal granted an anti-suit injunction to restrain Russian court proceedings brought in breach of an agreement to arbitrate in Paris,...more

White & Case LLP

Landmark UK Supreme Court decision clarifies scope of banks’ so-called ‘Quincecare duty’

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In Philipp v Barclays Bank UK PLC, the UK Supreme Court has given unanimous judgment in favour of Barclays Bank, and provided clear guidance on the so-called ‘Quincecare duty’ owed by banks to their customers. White & Case...more

Jenner & Block

Client Alert: World Uyghur Congress v Secretary of State for the Home Department: Can Forced Labour Goods Cause UK Money...

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On 20 January 2023, the High Court in London issued a historic judgment in relation to the World Uyghur Congress’ (WUC) challenge to the UK government’s failure to investigate the importation of cotton produced in China’s...more

White & Case LLP

Court of Appeal: Banks’ Quincecare duty may apply to instructions from defrauded customers

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In Philipp v Barclays Bank UK PLC, the Court of Appeal held that the Quincecare duty may apply to direct customer instructions (not just those through an agent), such that banks may be liable for failing to protect against...more

White & Case LLP

No third party production: FRC loses its demand for Sports Direct's privileged documents

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Court battles with regulators over privilege and the disclosure of documents are becoming increasingly common. However, it is not often that you see a regulator seeking to obtain the privileged documents of a third party who...more

Hogan Lovells

UK Supreme Court upholds first breach of Quincecare duty

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At the end of last month, the Supreme Court gave judgment in Singularis Holdings Limited (In Official Liquidation) v Daiwa Capital Markets Europe Ltd.This is the first case in which a bank has been held to have breached its...more

White & Case LLP

UK Supreme Court upholds first successful claim for breach of the "Quincecare" duty financial institutions owe their customers

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In Singularis Holdings Ltd (In Official Liquidation) v Daiwa Capital Markets Europe Ltd ([2019] UKSC 50), the Supreme Court upheld the first successful claim in negligence by a customer of a financial institution for breach...more

White & Case LLP

Norwich Pharmacal relief – costs, rights and obligations in pre-action disclosure

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In a decision handed down last week, Jofa Limited and Joseph Farah v Benherst Finance Limited and Chestone Industry Holding [2019] EWCA Civ 899, the Court of Appeal considered the rules regarding the costs of applications for...more

Herbert Smith Freehills Kramer

New York Appellate Court Ruling Eases Hurdle to Bringing Derivative Suits Against UK Companies in the New York Courts

On Nov. 14, 2018, a New York appellate court held that in a derivative action brought in a New York court against a company incorporated in the United Kingdom, the plaintiff need not comply with U.K. Companies Act § 261(1)...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - November 2017

In this month's edition of our Privacy & Cybersecurity Update, we discuss a Washington state court decision allowing a data breach lawsuit to move forward on a negligence claim, a Ninth Circuit ruling regarding releasing...more

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