Banking & Finance Disputes Journal - June 2016 - DAC Beachcroft

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Banking & Finance Disputes Journal - June 2016

Published 1 June 2016

DAC Beachcroft's Banking & Finance Disputes Update focuses on events occurring within the banking, financial, city business and general regulatory sectors that give rise to or concern contentious matters, civil or regulatory.

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Playboy Club London Limited & Ors v Banca Nazionale del Lavoro SPA (May 2016)

In a recent judgment the Court of Appeal has overturned a decision holding a bank liable for negligent misstatement arising out of a credit worthiness reference...

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Operation Tabernula – has the FCA really shown more teeth than its predecessor?

The conviction and sentencing of former corporate brokers Martyn Dodgson and Andrew Hind in May 2016 brings the FCA’s largest and most complex insider dealing investigation ever conducted to a near conclusion. The sentences handed down by the regulator, of 4.5 and 3.5 years imprisonment respectively, are the longest in its history for insider trading...

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Contractual interpretation and penalties in the Financial List. Hayfin Opal Luxco 3 SARL & Anor v Windermere VII CMBS plc & Ors

The Financial List has promptly disposed of a case regarding the construction of complex documents in a commercial mortgage-backed securitisation structure (CMBS). Snowden J adopted a strict approach to the construction and interpretation of highly negotiated documents, demonstrating that the Financial List will not refashion negotiated deals with the benefit of hindsight to assist the unwise...

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Judge in Financial List dismisses application to strike out parts of misselling and LIBOR manipulation claim

Royal Bank of Scotland plc and National Westminster Bank plc (together "the Bank"), issued an application to strike out parts of a Claim, issued against it by Diane and Michael Hockin and Lonwest Limited (collectively the Claimants"). The Claimants issued an application seeking permission to amend the Particulars of Claim and both applications were heard together before Mrs Justice Asplin in April 2016...

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Personal Touch Financial Services Ltd (Appellant/Defendant) v Simplysure Ltd and one other (Respondents/Claimants)

In this case an advisor employed by the Claimant had filled in a number of preliminary questionnaires pursuant to a "Compliance Agreement and Appointed Representative Agreement" dated 1 December 2006 (the "Contract") with information provided by intended clients to enable advice to be given concerning a medical insurance policy. This case considered whether this activity was a "regulated activity" in accordance with the Act and the Order.

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Authors

Jonathan Brogden

Jonathan Brogden

London - Walbrook

+44 (0)20 7894 6290

Pippa Ellis

Pippa Ellis

London - Walbrook

+44 (0)20 7894 6252

Francesca Muscutt

Francesca Muscutt

London - Walbrook

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