Developments in the regulation of crypto assets - if not the Financial Conduct Authority then who? By Jonathan Brogden, A recent report from the House of Commons Treasury Committee, 'Regulating Crypto', highlights…
Keeping Up with Crypto Fraud – Social media Influencers beware! By Jonathan Brogden, , In October 2022, the US Securities and Exchange Commission (“ SEC ”) fined Kim Kardashian US$1…
"Steady as we go?” Supreme Court clarifies, for the first time, when and how company directors owe a duty to a company’s creditors. By Giles Hindle, Joe Bannister, Jonathan Brogden, Pippa Ellis On 5 October 2022, the Supreme Court delivered its long awaited judgment in BTI 2014 LLC V Sequana…
“Single-minded loyalty”: High Court examines Bitcoin developers’ duties to restore lost private keys By Tim Ryan, Jonathan Brogden, Alexander Dimitrov, Background In Tulip Trading Ltd v Bitcoin Association for Bitcoin SV (BSV) and others [2022] EWHC…
The Economic Crime (Transparency and Enforcement) Act 2022 (“ECA”) – What You need to know (Pt 3) By Jonathan Brogden, Gareth Hall The ECA, designed to make it easier and quicker to impose sanctions and identify and trace illicit…
The Economic Crime (Transparency and Enforcement) Act 2022 (“ECA”) – What You need to know (Pt 2) By Jonathan Brogden, Gareth Hall The ECA, designed to make it easier and quicker to impose sanctions and identify and trace illicit…
The Economic Crime (Transparency and Enforcement) Act 2022 (“ECA”) – What You need to know (1) By Jonathan Brogden, Gareth Hall The ECA, designed to make it easier and quicker to impose sanctions and identify and trace illicit…
The Economic Crime (Transparency and Enforcement) Act 2022 (“ECA”) – What You need to know By Jonathan Brogden, Gareth Hall In this first of a series of three notes which will cover the changes introduced by the ECA in all…
Crypto Regulation: Cryptoassets to be included in the UK's Financial Promotion Regime By Jonathan Brogden, Mathew Rutter, Following HM Treasury’s Consultation Paper published in July 2020, it published a Consultation…
The FCA takes its next step in climate-related financial disclosures By Jonathan Brogden, New FCA rules on climate-related financial disclosures came into effect on 1 January 2022…
Zi Wang v Graham Darby: Can cryptocurrencies be held on trust? By Jonathan Brogden, The High Court addressed, for the first time, whether a cryptocurrency was held on trust in Zi Wang…
SQUIDs in! Scammers pull the rug on Netflix inspired token By Jonathan Brogden, , The anonymous creators behind the Squid Game inspired cryptocurrency have made off with an…
Tipping the Scales – Supreme Court decides whether and if so when and how pressure in commercial relationships becomes unlawful By Jonathan Brogden, In August 2021, the Supreme Court handed down judgment in Pakistan International Airlines…
Stuart Forsyth v the Financial Conduct Authority and the Prudential Regulatory Authority: Integrity Findings By Jonathan Brogden, , The decision concerns two references by Mr Forsyth in respect of decision notices issued by the FCA…
Stuart Forsyth v the Financial Conduct Authority and the Prudential Regulatory Authority: Limitation and Disclosure Findings By Jonathan Brogden, , On 6 July 2021 the Upper Tribunal handed down judgment in Mr Forsyth’s reference challenging the…
Digital Dispute Resolution Rules – a new way of resolving tech disputes? By , , Jonathan Brogden, Alistair Cooper On 22 April 2021 the UK Jurisdiction Taskforce, chaired by Sir Geoffrey Vos, Master of the Rolls,…
COVID-19: Furlough Scheme – Guidance for Companies By Jonathan Brogden, John Dunlop, Louise Bloomfield The Coronavirus Job Retention Scheme (“CJRS”), which has been in place since March 2020, has proven…
Court of Appeal confirms Ivey test for Dishonesty is correct and clarifies the English Court’s approach to rules of precedent By Jonathan Brogden An important decision for the determination of offences involving dishonesty and of note for…
Cryptoassets – Regulation and Risk. Plus Ca Change? By Jonathan Brogden, Julian Bubb Humfryes Cryptoassets – Exchange tokens, utility tokens and security tokens: What are they? How do they…
Business Crime Update: Much Ado about Nothing - SFO issues Corporate Co-operation Guidance By Jonathan Brogden It has long been a problem for criminal prosecutors that corporate crime is difficult to detect…
Private Prosecutions – An Update By Jonathan Brogden, , Georgia Court, Christopher Dyke In light of continuing budget restrictions faced by enforcement agencies and the police, private…
Overseas Production Orders – UK law enforcement agencies have new powers to compel disclosure of electronic data stored abroad (well, not quite yet) By Jonathan Brogden On 12 February 2019, the Crime (Overseas Production Orders) Act 2019 came into force…
FCA Business Plan: What we can expect in the year ahead By Jonathan Brogden, The Financial Conduct Authority (FCA) has recently published its 2019/2020 Business Plan outlining…
Bank Mellat v HM Treasury: disclosure in English civil proceedings overrides Iranian Sharia law on privacy By Julian Bubb Humfryes, Jonathan Brogden A slew of recent cases has illustrated the English court’s approach to evidence sought in the…
FCA fines Canara Bank for serious AML failings relating to its trade finance activities in the UK By Jonathan Brogden On 6 June 2018, the FCA published its Final Notice explaining the grounds upon which it fined…
Banking & Finance Disputes Update - June 2018 By Jonathan Brogden, Laura Berry DAC Beachcroft's Banking & Finance Disputes Update focuses on events occurring within the…
Private prosecution for Conspiracy to Defraud results in conviction and 8 year sentence: the case for Private Prosecutions By Jonathan Brogden On 11 June 2018, Paul Sultana was sentenced to 8 years' imprisonment and disqualified from acting…
FCA fines Canara Bank for serious AML failings relating to its trade finance activities in the UK By Jonathan Brogden On 6 June 2018, the FCA published its Final Notice explaining the grounds upon which it fined…
Banking & Finance Further News and Updates By Jonathan Brogden For a summary of other recent updates including: the new director of SFO, Investigations of Lloyds…
Banking & Finance Disputes Update - May 2018 By Jonathan Brogden, Pippa Ellis, Laura Berry, Julian Bubb Humfryes DAC Beachcroft's Banking & Finance Disputes Update focuses on events occurring within the…
Banking & Finance Disputes Journal - March 2017 By Jonathan Brogden, Pippa Ellis, Laura Berry DAC Beachcroft's Banking & Finance Disputes Update focuses on events occurring within the…
Supreme Court rules on test for identification in respect of third party rights under s393 of the Financial Services and Markets Act 2000 ("the Act") By Jonathan Brogden, Pippa Ellis On 22 March 2017, the Supreme Court delivered its long awaited judgment in FCA v Macris [2017] UKSC…
FOS jurisdiction in the limelight as High Court Judge considers that the relationship between what is fair and reasonable, and what the law lays down, is not altogether clear By Jonathan Brogden The High Court has confirmed that the Financial Ombudsman Service ("FOS") does have to consider…
Ventra Investments Limited v Bank of Scotland By Jonathan Brogden Court strikes out parts of swap claim against bank In a recent decision in the Commercial Court,…
Banking & Finance Disputes Journal - February 2017 By Jonathan Brogden, Pippa Ellis, Laura Berry DAC Beachcroft's Banking & Finance Disputes Update focuses on events occurring within the…
Court of Appeal limits exceptions to complying with subject access requests By Jonathan Brogden The Court of Appeal recently considered the scope of subject access requests ("SAR") under section…
Clydesdale wins at High Court in claim against dishonest borrower By Jonathan Brogden In a recent decision in Clydesdale Bank v Stoke Place Hotel Ltd (in administration) & Ors , the…
Changes to FCA and PRA enforcement processes By Jonathan Brogden On 1 February 2017 the FCA and the PRA published a joint policy statement setting out a number of…
D&O and Financial Institutions Newsletter - Winter 2017 By William Allison, Pippa Ellis, Richard Highley, Francesca Muscutt, Declan Finn, Graham Ludlam, Anthony Menzies, Jonathan Brogden DAC Beachcroft's D&O and FI newsletter features topical issues for our global clients and…
Property Alliance Group v RBS: The High Court dismisses all claims in its first major decision involving allegations of LIBOR manipulation (1) By Jonathan Brogden, Pippa Ellis In December 2016, the High Court (Financial List) handed down judgment in Property Alliance Group…
Banking & Finance Disputes Journal - January 2017 By Jonathan Brogden, Pippa Ellis, Laura Berry DAC Beachcroft's Banking & Finance Disputes Update focuses on events occurring within the…
Court of Appeal delivers judgment on non-contractual disclaimers and misrepresentation claims in secondary market purchases By Jonathan Brogden The recent case of Taberna Europe CDO II Plc ("Taberna") v Selskabet AF 1 …
Banque Cantonale de Geneve v Sanomi By Jonathan Brogden In a recent judgment the Court has confirmed the principles underpinning the enforceability of…
Government opens consultation on the expansion of corporate liability for economic crime By Jonathan Brogden On 13 January 2017, the Ministry of Justice published a call for evidence seeking views on a number…
Banking & Finance Disputes Journal - December 2016 By Jonathan Brogden, Pippa Ellis, Laura Berry DAC Beachcroft's Banking & Finance Disputes Update focuses on events occurring within the…
Beware the prospect of Unexplained Wealth Orders By Jonathan Brogden The Criminal Finances Bill (the "Bill"), which was introduced to the House of Commons on 13 October…
Noteholders entitled to declaration that restructuring of a separate debt amounts to an event of default under the notes By Jonathan Brogden Fomento De Construcciones Y Contratas SA v Black Diamond Offshore Ltd (Court of Appeal hearing) …
Lehman Brothers International (Europe) (in administration) (“LBIE”) v Exxonmobil Financial Services BV (“EMFS”) [2016] EWHC 2699 (Comm), 28 October 2016 By Jonathan Brogden Fomento De Construcciones Y Contratas SA v Black Diamond Offshore Ltd (Court of Appeal hearing) …
New Dimensions in Financial Crime By Jonathan Brogden, John Bramhall New Dimensions in Financial Crime: The Real impact of the Bribery Act 2010.
The Upper Tribunal upheld the FCA's decision to impose a prohibition order By Jonathan Brogden Carrimjee v FCA Introduction Mr Carrimjee ("C") founded Somerset Asset Management LLP ("SAML")…
Hall v RBS: Claimant ordered to reveal identity of funders By Jonathan Brogden In a decision that will be of interest to claimants with third party funders, and those funders…
OJSC Bank of Moscow v Chernyakov, Evokhova & Norwind Shipping Limited [2016] EWHC 2583 (Comm) By Jonathan Brogden The Commercial Court grants summary judgment to bank seeking to enforce foreign judgments against a…
Banking & Finance Disputes Journal - November 2016 By Jonathan Brogden, Pippa Ellis, Laura Berry DAC Beachcroft's Banking & Finance Disputes Update focuses on events occurring within the…
The recent Which? super complaint to the Payment Systems Regulator ("PSR") and FCA has put the issue of financial crime firmly under the spotlight By Jonathan Brogden
High Court sets new standard of care for financial advisers – O'Hare and another v Coutts & Co [2016] EWHC 2224 (QB) By Jonathan Brogden The High Court has dismissed a claim against Coutts for alleged breach of the duty to exercise…
Corporate criminal responsibility under the spotlight as UK Government moves to change the law By Jonathan Brogden Earlier this year David Cameron hosted a major international anti-corruption summit in London in a…
Banking & Finance Disputes Journal - October 2016 By Jonathan Brogden, Pippa Ellis, Laura Berry DAC Beachcroft's Banking & Finance Disputes Update focuses on events occurring within the…
Banking & Finance Disputes Journal - August 2016 By Jonathan Brogden, Pippa Ellis DAC Beachcroft's Banking & Finance Disputes Update focuses on events occurring within the…
Second Deferred Prosecution Agreement approved by the English Court demonstrates the value of Self Reporting By Jonathan Brogden, Graham Ludlam On 8 July 2016, Judgment was handed down in the case of the Serious Fraud Office v XYZ Limited…
Another mis-selling claim fails: Lender was under no duty to give advice to borrowers which was against its own commercial interests By Jonathan Brogden In Finch and another v Lloyds TSB Bank Plc and others, the High Court has found against the…
The Court of Appeal overturns decision of the High Court concerning the interpretation of conflicting terms in a contract containing a priority clause By Jonathan Brogden On 15 July 2008, the Borrower entered into a “buy to let” interest only mortgage contract with the…
SFO takes steps to control the conduct of Corporate Investigations By Jonathan Brogden, Pippa Ellis On 6 June 2016, the SFO issued new guidance on the conduct of compelled interviews conducted under…
Former Schroders trader is jailed for two years for insider trading By Jonathan Brogden, Pippa Ellis In January 2013 Damian Frank Clarke ("Mr Clarke") a former equities trader at Schroders Investment…
Banking & Finance Disputes Journal - July 2016 By Jonathan Brogden, Pippa Ellis, Laura Berry DAC Beachcroft's Banking & Finance Disputes Update focuses on events occurring within the…
Bribery Act 2010 - The Dynamics of Self Reporting By Jonathan Brogden In the second of our series of three articles, international law firm DAC Beachcroft LLP and…
Banking & Finance Disputes Journal - June 2016 By Jonathan Brogden, Pippa Ellis, Francesca Muscutt DAC Beachcroft's Banking & Finance Disputes Update focuses on events occurring within the…
Playboy Club London Limited & Ors v Banca Nazionale del Lavoro SPA (May 2016) By Jonathan Brogden In a recent judgment the Court of Appeal has overturned a decision holding a bank liable for…
Contractual interpretation and penalties in the Financial List By Francesca Muscutt, Jonathan Brogden Hayfin Opal Luxco 3 SARL & Anor v Windermere VII CMBS plc & Ors
Judge in Financial List dismisses application to strike out parts of misselling and LIBOR manipulation claim By Francesca Muscutt, Jonathan Brogden Diane & Michael Hockin/Lonwest V Royal Bank of Scotland plc and National Westminster Bank plc…
Personal Touch Financial Services Ltd (Appellant/Defendant) v Simplysure Ltd and one other (Respondents/Claimants) By Jonathan Brogden [2016] EWCA Civ 461s
Contractual interpretation and penalties in the Financial List By Jonathan Brogden The Financial List has promptly disposed of a case regarding the construction of complex documents…
Banking and Finance Disputes Update - April 2016 By Jonathan Brogden DAC Beachcroft's Banking & Finance Disputes Update focuses on events occurring within the…
Panama Paper Leak: The implications for financial compliance By Jonathan Brogden The leak of confidential files by the Panamanian law firm, Mossack Fonseca, two weeks ago has…
The Commercial Court provides guidance on the interpretation of defined terms and the implication of terms in complex commercial contracts By Jonathan Brogden The claim concerned a series of transaction documents entered into as part of a structured note…
Swap Mis-selling Claim Struck Out: Bank Wins Again By Jonathan Brogden In the case of WW Property Investments Ltd v National Westminster Bank Plc [2016] EWHC 378 (QB) …
The Bribery Act 2010 Extra-Jurisdictional Reach and Risk Assessment By Jonathan Brogden In a series of three articles, international law firm DAC Beachcroft LLP and leading global public…
Banking and Finance Disputes Update - February 2016 By Laura Berry, Jonathan Brogden, Pippa Ellis DAC Beachcroft's Banking & Finance Disputes Update focuses on events occurring within the…
Court upholds Serious Fraud Office procedures on seized privileged material By Pippa Ellis, Jonathan Brogden In the recent case of R (Colin McKenzie) v Director of the Serious Fraud Office ("SFO") , the…
Divisional Court dismisses application for judicial review against KPMG for alleged breaches of public law principles By Jonathan Brogden, Pippa Ellis Between March-May 2012, evidence of mis-selling of certain interest rate hedging products (IRHP's")…
The Commercial Court has granted summary judgment in favour of syndicated lenders, rejecting an attempt to bring the terms of a complex financial agreement within the ambit of the UCTA By Jonathan Brogden, Pippa Ellis African Export-Import Bank, Diamond Bank Plc and Skye Bank Plc ("the Lenders") –v- Shebah…
A small victory for Kazakhstan bank in its ongoing legal battle with its former chairman for US€4.6 billion: Court finds it does have a claim for conspiracy arising from breach of the bank's freezing order By Jonathan Brogden, Pippa Ellis As part of the ongoing litigation commenced by the Kazakhstan bank, JSC BTA Bank ("the Bank")…
Upper Tribunal addresses the question of the effect of a Decision Notice rejecting an application for full authorisation under Part 4A of the Financial Services Markets Act 2000 where interim permission is held By Jonathan Brogden, Pippa Ellis Prior to April 2014, the Applicant, a debt management firm, was authorised and regulated by the…
Sweett Group pleads guilty to bribery offence in SFO investigation By Jonathan Brogden The Serious Fraud Office (" SFO ") confirmed in December 2015 that the Sweett Group (" Sweett ")…
Banking and Finance Disputes Newsletter - January 2016 By Jonathan Brogden DAC Beachcroft's Banking & Finance Disputes Journal focuses on events occurring within the…
Unfair creditor relationship? The bank wins again By Jonathan Brogden In the recent case of Barclays Bank plc v L…
Alert: BNY Mellon Corporate Trustee Services Ltd v LBG Capital By Laura Berry, Jonathan Brogden Court confirms approach to interpretation of Lloyds' enhanced capital notes trust deed, and…
High Court hands down ruling on calculation of Loss under 1992 ISDA Master Agreement By Jonathan Brogden High Court hands down ruling on calculation of Loss under 1992 ISDA Master Agreement.
FCA fines the Bank of New York Mellon and Clydesdale Bank By Jonathan Brogden FCA fines the Bank of New York Mellon and Clydesdale Bank.
OJSC VTB Bank v Parline Ltd [2015] EWHC 1135 (Comm); 29 April 2015 By Jonathan Brogden OJSC VTB Bank v Parline Ltd [2015] EWHC 1135 (Comm); 29 April 2015
African Minerals Ltd v Renaissance Capital Ltd: Renaissance Capital v African Minerals CA ([2015] EWCA Civ 448) By Jonathan Brogden This case relates to fundraising arrangements between Renaissance Capital (“Renaissance”) and…
Banking & Finance Disputes Update - May 2015 By Jonathan Brogden Read the May edition of the Banking and Finance Disputes Update.
Court of Appeal clarifies law on identification of individuals in FCA Enforcement Action By Jonathan Brogden On 19 May 2015, the Court of Appeal handed down judgment in the case of the FCA v Macris [2015]…
Banking and Finance Disputes Update - April 2015 By Jonathan Brogden DAC Beachcroft's Banking & Finance Disputes Update focuses on events occurring within the…
The Court of Appeal has provided further guidance on collective investment schemes ("CISs") in FCA v Capital Alternatives Limited and others [2015] EWCA Civ 284. By Jonathan Brogden The Court of Appeal provided clarification on the appropriate test for establishing whether schemes…
Commercial Court takes strict view on late amendments to statement of case By Jonathan Brogden In the matter of Quah Su-Ling v Goldman Sachs International ("GS") [2015] EWHC 759 (Comm) the…
Court of Appeal guidance on jurisdiction - Deutsche Bank AG London Branch v Petromena ASA (in bankruptcy) By Jonathan Brogden In the recent decision in Deutsche Bank AG London Branch v Petromena ASA (in bankruptcy) , the…
DAC Beachcroft Banking & Finance Disputes Journal - October 2014 By Jonathan Brogden DAC Beachcroft's Banking & Finance Disputes Journal focuses on events occurring within the…
Barclays found guilty of misusing client's confidential information to seal the deal for itself By Pippa Ellis, Jonathan Brogden DAC Beachcroft's Banking & Finance Disputes Journal focuses on events occurring within the…
Privy Council clarifies the circumstances in which a bank can be stopped from paying under a Letter of Credit: Alternative Power Solution Limited ("APS") v Central Electricity Board ("CEB") and Another [2014] UKPC 31 By Pippa Ellis, Jonathan Brogden DAC Beachcroft's Banking & Finance Disputes Journal focuses on events occurring within the…
The Enterprise Finance Guarantee Scheme: An update from the Regulator By Pippa Ellis, Jonathan Brogden Introduction The Serious Fraud Office ("SFO'") has announced that is aware of reports that loans…
"Additional Representations" in ISDA Master Agreement are enforceable by a bank despite the Defendant's lack of capacity By Pippa Ellis, Jonathan Brogden In Credit Suisse International ("CS") v Stichting Vestia Groep ("Vestia"), the High Court held…
DAC Beachcroft Banking & Finance Disputes Journal - September 2014 By Jonathan Brogden DAC Beachcroft's Banking & Finance Disputes Journal focuses on events occurring within the…
Courts strike a blow for banks in latest swap case: Bailey v Barclays Bank plc [2014] EWHC 2882 (QB) By Jonathan Brogden In a recent judgment in the Cardiff Mercantile Court, Keyser J has struck out a claim by a…
RBS' Global Restructuring Group: An update By Jonathan Brogden In April 2014, an investigation by Clifford Chance cleared RBS' Global Restructuring Group ("GRG")…
Banking & Finance Disputes Journal - July 2014 By Jonathan Brogden, Pippa Ellis Supreme Court holds that bribes and secret commissions received by an agent are held on trust for…
Banking & Finance Disputes Journal - June 2014 By Jonathan Brogden On 12 June 2014, George Osborne rejected European Union plans to outlaw currency market…
Banking & Finance Disputes Journal - May 2014 By Jonathan Brogden, Pippa Ellis FCA welcomes Court of Appeal decision in relation to legal aid ruling in R v Crawley & Others
Banking & Finance Disputes Journal - April 2014 By Jonathan Brogden DAC Beachcroft's Banking & Finance Disputes Journal focuses on events occurring within the…