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Banking & Finance Disputes Journal - July 2016

Published 4 julio 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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Chelsea Barracks: Tax consequences of Islamic Finance product heard by the Court of Appeal

In Newmafruit Farms Ltd v Alan Pither, the High Court has provided some useful guidance on the question of when occasional lending by entities whose primary business is not financial services must be authorised by the FCA in order to be enforceable under the Financial Service and Markets Act 2000 ("FSMA").

Another mis-selling claim fails: Lender was under no duty to give advice to borrowers which was against its own commercial interests

In Finch and another v Lloyds TSB Bank Plc and others, the High Court has found against the borrowers' interpretation of the significance of a lender's marketing strategy and its process for working with the customer in the lead up to the agreement of a loan...

The Court of Appeal overturns decision of the High Court concerning the interpretation of conflicting terms in a contract containing a priority clause. Alexander ("the Borrower") v West Bromwich Mortgage Company Ltd ("the Lender") [2016] EWCA Civ 498

On 15 July 2008, the Borrower entered into a “buy to let” interest only mortgage contract with the Lender which incorporated terms from the Offer Letter and The Lender’s Standard Mortgage Conditions...

BNY Mellon Corporate Trustee Services Ltd v LBG Capital No 1 plc and another

Supreme Court holds, by a narrow majority, that Lloyds' ECNs are redeemable...

FCA charges five over £2.75m "boiler room" scam

On 16 June 2016 the FCA announced that five individuals have been charged with conspiracy to defraud, together with offences under the Financial Services and Markets Act 2000 and the Fraud Act 2006...

SFO takes steps to control the conduct of Corporate Investigations

On 6 June 2016, the SFO issued new guidance on the conduct of compelled interviews conducted under s.2 of the Criminal Justice Act 1987 ("the Act")...

Former Schroders trader is jailed for two years for insider trading

Jonathan Brogden

London - Walbrook

+44 (0)20 7894 6290

jbrogden@dacbeachcroft.com

Pippa Ellis

London - Walbrook

+44 (0)20 7894 6252

pellis@dacbeachcroft.com

Laura Berry

London - Walbrook

+44 (0) 20 7894 6343

lberry@dacbeachcroft.com

Key Contacts

Jonathan Brogden

London - Walbrook

+44 (0)20 7894 6290

jbrogden@dacbeachcroft.com

BNY Mellon Corporate Trustee Services Ltd v LBG Capital No 1 plc and another

By Laura Berry

Supreme Court holds, by a narrow majority, that Lloyds' ECNs are redeemable.