Related insights: Banking and Financial Litigation
Crypto-regulation in the UK: what next?
04 May 2023
After years of anticipation, the Financial Services and Markets Bill (when it finally achieves Royal Assent), underpinned by the regulatory priorities announced by the Government as part of the Edinburgh Reforms, will finally create the detail for how the UK will regulate those who issue, trade and distribute crypto-assets.
UK Supreme Court clarifies the rule of "reflective loss"
28 Jul 2020
The UK's Supreme Court ("UKSC") has handed down its judgment following the hearing of the appeal in the case of Sevilleja v Marex Financial Limited [2020] UKSC 31 ("Marex"). The appeal was against the decision of the Court of Appeal to find that the rule of reflective loss applied to 90% of Marex's claim, which was brought in its capacity as a creditor.
COVID-19: Rishi Sunak pledges £350bn in new "whatever it takes" measures
18 Mar 2020
Rishi Sunak yesterday evening announced that he would do “whatever it takes” to nurse the economy through the uncertain times ahead, echoing a phrase that Mario Draghi (the then ECB President) used in 2012 when he faced a growing euro crisis.
Turbo-charging LIBOR transition - Bank of England speech
27 Feb 2020
Andrew Hauser of the Bank of England has announced two new initiatives to encourage transition from Sterling LIBOR to SONIA in a speech on 26 February 2020.
Vicarious liability in financial loss claims: key cases in 2019 and what to expect in 2020
10 Jan 2020
In 2019 the Courts were required to consider, on appeal from strike-out/summary judgment decisions, vicarious liability (and related issues) in connection with financial advisers and lenders. In the very recent decision in Barness & Ors v Ingenious Media Ltd & Ors, the Court was required to consider whether the claims against the two lender defendants alleging breach of contract, negligence and vicarious liability in connection with a film finance scheme should be struck out. The separate case of Frederick v Positive Solutions (Financial Services) Ltd, in which the Supreme Court heard an appeal in February 2019 against the Court of Appeal's 2018 decision upholding the summary judgment in favour of Positive Solutions, turned on the issue of whether Positive Solutions was vicariously liable for the fraudulent acts of an agent.
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