Search Results for: Financial Services and Markets Act 2000

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Allied Dunbar Assurance Plc, Zurich Assurance Plc, City of London Insurance Company Limited, Pilot Assurance Company Limited, Eagle Star Life Assurance Company Limited, Part Vii of the Financial Services and Markets Act 2000 v Regina: ChD 19 Jan 2005

Imposition of fines Judges: The Hon Mr Justice Evans-Lombe Citations: [2005] EWHC 28 (Ch) Links: Bailii Statutes: Financial Servoces And Markets Act 2000 Part VII Jurisdiction: England and Wales Financial Services Updated: 01 October 2022; Ref: scu.221723

In re the Financial Markets and Services Act 2000; WASA International (UK) Insurance Co Ltd and Another v WASA International Insurance Co Ltd (Sweden): ChD 10 Dec 2002

The court had made an order transferring the insurance business of the company. The question arose as to whether it also had the right to transfer the benefit of contracts of re-insurance, which could at common law, only be transferred by consent of the insurer. Held: The Act contained the power in section 112 to … Continue reading In re the Financial Markets and Services Act 2000; WASA International (UK) Insurance Co Ltd and Another v WASA International Insurance Co Ltd (Sweden): ChD 10 Dec 2002

Jackson v Ayles and Others: ChD 23 Apr 2021

Application within bankruptcy proceedings seeking a declaration that a security held by a lender was unenforceable pursuant to the Financial Services and Markets Act 2000. Judges: Chief ICC Judge Briggs Citations: [2021] EWHC 995 (Ch) Links: Bailii Jurisdiction: England and Wales Insolvency Updated: 20 December 2022; Ref: scu.662208

Chechetkin v Payward Ltd and Others: ChD 25 Oct 2022

Judges: Mr Justice Miles Citations: [2022] EWHC 3057 (Ch) Links: Bailii Statutes: Civil Procedure Rules 11, Financial Services and Markets Act 2000 Jurisdiction: England and Wales Arbitration, Financial Services Updated: 12 December 2022; Ref: scu.683605

The Law Society v Sephton and Co and others: CA 13 Dec 2004

The Society appealed dismissal for limitation of its claim against the defendant firm of accountants arising from alleged fraud in approval of a solicitor’s accounts. Held: The liability did not arise until the Society decided to make compensation to those who had been affected by the solicitor’s default. The claims in negligence were not time … Continue reading The Law Society v Sephton and Co and others: CA 13 Dec 2004

Dubai Aluminium Company Limited v Salaam and Others: HL 5 Dec 2002

Partners Liable for Dishonest Act of Solicitor A solicitor had been alleged to have acted dishonestly, having assisted in a fraudulent breach of trust by drafting certain documents. Contributions to the damages were sought from his partners. Held: The acts complained of were so close to the activities which a solicitor would normally undertake, that … Continue reading Dubai Aluminium Company Limited v Salaam and Others: HL 5 Dec 2002

Paragon Finance Plc (Formerly Known As National Home Loans Corporation Plc v D B Thakerar and Co (a Firm); Ranga and Co (a Firm) and Sterling Financial Services Limited: CA 21 Jul 1998

Where an action had been begun on basis of allegations of negligence and breach of trust, new allegations of fraud where quite separate new causes of claim, and went beyond amendments and were disallowed outside the relevant limitation period. Sections 23 and 36 and the absence of express statutory mention in the 1980 Act of … Continue reading Paragon Finance Plc (Formerly Known As National Home Loans Corporation Plc v D B Thakerar and Co (a Firm); Ranga and Co (a Firm) and Sterling Financial Services Limited: CA 21 Jul 1998

The Financial Services Authority v Sinaloa Gold Plc and Others: SC 27 Feb 2013

The FSA sought injunctions to restrain the activities of the first defendants, including asset freezing orders under section 380 of the 2000 Act. The defendant’s bankers objected that they would be prejudiced by the restrictions without the FSA giving an appropriate undertaking as to damages. Held: The appeal was dismissed. There is no general rule … Continue reading The Financial Services Authority v Sinaloa Gold Plc and Others: SC 27 Feb 2013

The Financial Services Authority v Asset L I Inc and Others: ChD 8 Feb 2013

The court was asked whether so-called ‘land-banking’ schemes were ‘collective investments schemes’ within section 235. Held: Andrew Smith J discussed the difference in effect between the contra preferentem rule, and regulation 7 of the 1999 Regulations as principles of construction, concluding that they were ‘to much the same effect’, and decided that its activities amounted … Continue reading The Financial Services Authority v Asset L I Inc and Others: ChD 8 Feb 2013

Clark and Another v In Focus Asset Management and Tax Solutions Ltd and Another: CA 14 Feb 2014

The doctrine of res judicata was applicable to prevent a complainant who had once accepted an award from the Financial Ombudsman Service from starting additional legal proceedings to pursue complaints already been submitted to the ombudsman and on which the ombudsman had decided. Section 228(5) of the Financial Services and Markets Act 2000 did not … Continue reading Clark and Another v In Focus Asset Management and Tax Solutions Ltd and Another: CA 14 Feb 2014

Brown and Others v InnovatorOne Plc and Others: ComC 18 May 2012

The claimants had been advised to invest in a scheme promoted by the defendants with the assistance of their solicitors. On the failure of the scheme they now sought relief alleging inter alia, breach of trust. Held: The claims failed. In connection with the negative day-to-day control test under section 235(2), it was necessary to … Continue reading Brown and Others v InnovatorOne Plc and Others: ComC 18 May 2012

C, Regina (on The Application of) v Financial Services Authority: Admn 25 May 2012

The claimant challenged by judicial review, disciplinary decisions made against him, saying tat insufficient reasons had been given. The Authority replied that judicial review was inappropriate since the claimant had open to him a reference to the Upper Tribunal. Judges: Silber J Citations: [2012] EWHC 1417 (Admin) Links: Bailii Statutes: Financial Services and Markets Act … Continue reading C, Regina (on The Application of) v Financial Services Authority: Admn 25 May 2012

Clydesdale Financial Services Limited (T/A Barclays Partner Finance), Regina (on The Application of) v: Admn 13 Jul 2022

Claimant’s application for permission to apply for judicial review of a decision of the Ombudsman made under section 228 of the Financial Services and Markets Act 2000. Judges: Mrs Justice Lang DBE Citations: [2022] EWHC 2438 (Admin) Links: Bailii Jurisdiction: England and Wales Financial Services Updated: 21 October 2022; Ref: scu.681846

The Financial Services Authority v William Matthews Patricia Janet Matthews: ChD 21 Dec 2004

The Authority sought a finding that the respondents had infringed their duties in providing financial advice with respect to the moving of personal pensions and had failed to comply with an order an order for compensation. The defendants asserted that the award made was incorrect and infringed their human rights. Held: The parties had been … Continue reading The Financial Services Authority v William Matthews Patricia Janet Matthews: ChD 21 Dec 2004

Financial Services Authority (Decision Notice): ICO 7 Jul 2011

The complainant made a freedom of information request to the Financial Services Authority (the public authority) to request copies of three reports it had produced in relation to Split Capital Investment Trusts. The public authority refused the request by relying on the exemptions; section 21 (Information accessible by other means); section 40 (Personal information), section … Continue reading Financial Services Authority (Decision Notice): ICO 7 Jul 2011

Digital Satellite Warranty Cover Ltd v The Financial Services Authority: CA 29 Nov 2011

Parties appealed against on order for the winding up of the company. The Authority (FSA) had said that the company which supplied warranties to owners of digital receiver boxes were providing regulated insurance services, but that the companies were not registered. The warranties were for the repair and supply of parts only, and the company … Continue reading Digital Satellite Warranty Cover Ltd v The Financial Services Authority: CA 29 Nov 2011

Andrews v SBJ Benefit Consultants: ChD 4 Nov 2010

The claimant sought damages alleging that the defendant had failed in its statutory duties under the 2000 Act when advising on pension reviews. Judges: Pelling QC J Citations: [2010] EWHC 2875 (Ch) Links: Bailii Statutes: Financial Services and Markets Act 2000 150 Jurisdiction: England and Wales Financial Services Updated: 17 September 2022; Ref: scu.442584

In re Sky Land Consultants Plc: ChD 3 Mar 2010

a land-banking arrangement was held to amount to a collective investment scheme within section 235. The company purported to change its practices following intervention by the FCA. The changes were held by the judge insufficient to take it outside section 235. On two sites, the Crewe land and the Winterton land, involving sales respectively of … Continue reading In re Sky Land Consultants Plc: ChD 3 Mar 2010

CRC Credit Fund Ltd and Others v GLG Investments Plc (Sub-Fund: European Equity Fund) and Others: CA 2 Aug 2010

Judges: Lord Neuberger MR, Arden LJ, Sir Mark Waller Citations: [2010] EWCA Civ 917, [2011] Bus LR 277, [2011] 1 CMLR 27 Links: Bailii Statutes: Financial Services and Markets Act 2000 Jurisdiction: England and Wales Citing: Appeal from – Lehman Brothers International (Europe) v CRC Credit Fund Ltd and Others ChD 15-Dec-2009 . . See … Continue reading CRC Credit Fund Ltd and Others v GLG Investments Plc (Sub-Fund: European Equity Fund) and Others: CA 2 Aug 2010

ABS Financial Planning Ltd and Others, Regina (on The Application of) v Financial Services Authority and Another: Admn 12 Jan 2011

217 companies sought to challenge a decision imposing on them an interim levy to cover the cost of claims accepted by the defendants in respect of the defaults of another company. Judges: Beatson J Citations: [2011] EWHC 18 (Admin) Links: Bailii Statutes: Financial Services and Markets Act 2000 Jurisdiction: England and Wales Financial Services Updated: … Continue reading ABS Financial Planning Ltd and Others, Regina (on The Application of) v Financial Services Authority and Another: Admn 12 Jan 2011

Davies and others v Financial Services Authority: CA 30 Jul 2003

The claimants sought judicial review of decisions by the respondents proposing prohibition orders. Held: The applicants had open to them appeals against the decisions so far taken. Accordingly no right existed for judicial review. The scheme of the Act required the supervision of the claimants to be by the procedures under the Act. Judges: Kennedy, … Continue reading Davies and others v Financial Services Authority: CA 30 Jul 2003

A and B, Regina (on The Application of) v Secretary of State for Health: SC 14 Jun 2017

The court was asked: ‘Was it unlawful for the Secretary of State for Health, the respondent, who had power to make provisions for the functioning of the National Health Service in England, to have failed to make a provision which would have enabled women who were citizens of the UK, but who were usually resident … Continue reading A and B, Regina (on The Application of) v Secretary of State for Health: SC 14 Jun 2017

Re Phoenix Life Ltd and Others: ChD 15 Jun 2022

Sanction of insurance business transfer Judges: Mr Justice Trower Citations: [2022] EWHC 1796 (Ch) Links: Bailii Statutes: Financial Services and Markets Act 2000 111 Jurisdiction: England and Wales Insurance Updated: 19 July 2022; Ref: scu.679573

Financial Ombudsman Service v Heather Moor and Edgecomb Ltd: CA 11 Jun 2008

The FOS appealed refusal of a court to award it legal costs on successfully defending claims in the County Court. It said that the cases had raised an issue of importance. Citations: [2008] EWCA Civ 643 Links: Bailii Statutes: Financial Services and Markets Act 2000 Jurisdiction: England and Wales Citing: See Also – Heather Moor … Continue reading Financial Ombudsman Service v Heather Moor and Edgecomb Ltd: CA 11 Jun 2008

Heather Moor and Edgecomb Ltd, Regina (on the Application Of) v Financial Ombudsman Service and Another: CA 11 Jun 2008

Rix LJ considered the possible scope of rules made by the respondent saying: ‘In my judgment, the following values are all to be appreciated and brought into a pragmatic balance: that an efficient and cost-effective and relatively informal type of alternative dispute resolution should not be stifled by the imposition of legal doctrine; that the … Continue reading Heather Moor and Edgecomb Ltd, Regina (on the Application Of) v Financial Ombudsman Service and Another: CA 11 Jun 2008

PS Mortgages Ltd and Olutola v Financial Services Authority: FSMT 8 Nov 2006

FSMT Fit and proper person – Sections 40 and 60 Financial Services and Markets Act 2000 – Disciplinary finding by professional body and Applicant’s omission to disclose it on application for approval – References dismissed Citations: [2006] UKFSM FSM042 Links: Bailii Jurisdiction: England and Wales Financial Services Updated: 15 July 2022; Ref: scu.268220

Jabre (Decision on Jurisdiction) v Financial Services Authority: FSMT 10 Jul 2006

FSMT TRIBUNAL – Jurisdiction – Matter referred – Decision to fine Applicant for market abuse and breaches of Principles 2 and 3 – Decision referred to Tribunal – Authority’s statement of case contends that Tribunal should determine as appropriate action the withdrawal of Applicant’s approval or the prohibition of the Applicant – Whether Authority’s contention … Continue reading Jabre (Decision on Jurisdiction) v Financial Services Authority: FSMT 10 Jul 2006

Jabre and Financial Services Authority (Decision on Market Abuse) v Financial Services Authority: FSMT 10 Jul 2006

FSMT MARKET ABUSE – Confidential information – Sales through Tokyo market of shares quoted on London Stock Exchange – Allegation that sales followed receipt by Applicant of confidential information – Tokyo market is not a ‘prescribed market’ – Whether shares so sold were ‘traded on a market to which this section applies’ i.e. the London … Continue reading Jabre and Financial Services Authority (Decision on Market Abuse) v Financial Services Authority: FSMT 10 Jul 2006

Henton Revised v Financial Services Authority: FSMT 9 Nov 2007

FSMT PROHIBITION ORDER – whether Applicant fit and proper to perform functions in relation to all regulated activities carried on by authorised persons generally – no in respect of all currently regulated activities – Financial Services and Markets Act 2000 s 56 Citations: [2007] UKFSM FSM049 Links: Bailii Financial Services Updated: 15 July 2022; Ref: … Continue reading Henton Revised v Financial Services Authority: FSMT 9 Nov 2007

Elliot v Financial Services Authority: FSMT 16 Mar 2006

FSMT REGULATED ACTIVITIES – performance of – prohibition order – whether Applicant a fit and proper person to perform functions in relation to regulated activities carried on by an authorised person – no – whether the Authority had power to make a prohibition order – yes – reference determined in favour of the Authority – … Continue reading Elliot v Financial Services Authority: FSMT 16 Mar 2006

Henton v Financial Services Authority: FSMT 4 May 2007

FSMT PRELIMINARY ISSUE – Applicant prohibited from performing any function in relation to any regulated activity carried on by an authorised or exempt person or exempt professional firm because it appeared to the Authority that he was not a fit and proper person – Applicant had been found to be dishonest by the High Court … Continue reading Henton v Financial Services Authority: FSMT 4 May 2007

Real Estate Opportunities Ltd v Aberdeen Asset Managers Jersey Ltd and others: CA 9 Mar 2007

The defendants had declined to produce documents saying that they had been obtained under conditions of confidence from the Financial Services Authority. The claimants said that the documents were not protected since the defendant already had the documents required independently of the FSA. Held: The defendant’s appeal failed. They could not claim protection from disclosure … Continue reading Real Estate Opportunities Ltd v Aberdeen Asset Managers Jersey Ltd and others: CA 9 Mar 2007

Real Estate Opportunities Ltd v Aberdeen Asset Managers Jersey Ltd and others: ChD 15 Dec 2006

The defendant company resisted disclosure of documents saying that they had been supplied by the Financial Services Authority in confidence, and that to disclose them would be an offence. Held: The information had already in principle been known to the defendants before the FSA investigation, and were not protected from disclosure. Judges: David Richards J … Continue reading Real Estate Opportunities Ltd v Aberdeen Asset Managers Jersey Ltd and others: ChD 15 Dec 2006

Financial Services Authority v Fradley and Woodward: CA 23 Nov 2005

The defendant appealed against a finding that the pooled betting scheme they operated was governed by the Act. Held: Whether such an arrangement amounted to a collective investment scheme so as to be regulated was first a question of fact as to whether there was a single set of arrangements so as to constitute a … Continue reading Financial Services Authority v Fradley and Woodward: CA 23 Nov 2005

AFC Ltd v Financial Conduct Authority: UTTC 5 Feb 2016

Financial Services and Markets Act 2000 – application under s55A for permission to carry on regulated activities – whether applicant fit and proper. Held: L is a person of honesty and integrity. He has been subjected to an unjustified accusation. He has acted and may be expected to act with probity. We remit the application … Continue reading AFC Ltd v Financial Conduct Authority: UTTC 5 Feb 2016

Thomas v The Financial Services Authority: FSMT 22 Sep 2004

FSMT REASONS FOR DIRECTIONS – application for a costs order in respect of the previous hearing – allowed in part application for a direction that certain questions be detennined at a preliminary hearing – allowed in part application for directions requiring the Respondent to provide further infonnation and to file further documents and for associated … Continue reading Thomas v The Financial Services Authority: FSMT 22 Sep 2004

Davidson v The Financial Services Authority: FSMT 9 Aug 2004

FSMT PERFORMANCE OF REGULATED ACTIVITIES – Respondent’s refusal to approve performance by Applicant of controlled functions – three preliminary issues – whether Respondent in breach of time limit in section 61(3) – yes – Whether that made the warning notice and the decision notice void – no – whether the fact that the Respondent has … Continue reading Davidson v The Financial Services Authority: FSMT 9 Aug 2004

Piggott v Financial Services Authority: FSMT 13 Jun 2003

FSMT DISCIPLINARY POWERS – amount of penalty determined by Interim Tribunal – whether fresh evidence has come to light about ability to pay – whether determination of Interim Tribunal justified in the light of the fresh evidence – whether penalty should be reduced – public censure in the alternative – matter remitted to Authority with … Continue reading Piggott v Financial Services Authority: FSMT 13 Jun 2003

Financial Services Authority v Sinaloa Gold Plc and Others: ChD 25 Jan 2011

The court considered issues arising on an application by the regulator for an injunction to restrain the defendant operating what it said was an unregulated share dealing scheme. Barclays Bank, bankers to the main defendant complained that as third party creditors of the company they would be prejudiced by the intervention. The FSA offered no … Continue reading Financial Services Authority v Sinaloa Gold Plc and Others: ChD 25 Jan 2011

PDHL Ltd v Financial Conduct Authority: UTTC 28 Jan 2016

UTTC FINANCIAL SERVICES – Decision Notice refusing permission for authorisation to carry on debt adjusting and debt counselling activities-whether giving of Decision Notice terminated Applicant’s Interim Permission to carry on those activities-Yes-Article 58 Financial Services and Markets Act 2000 (Regulated Activities) (Amendment (No 2)) Order 2013 – s133A (4) FSMA Citations: [2016] UKUT 18 (TCC) … Continue reading PDHL Ltd v Financial Conduct Authority: UTTC 28 Jan 2016

Arch Financial Products Llp and Others v Financial Services Authority: UTTC 30 Nov 2012

UTTC DECISION NOTICE – publication – whether Upper Tribunal should prohibit publication on grounds of potential serious reputational damage prejudice to civil proceedings or possible settlement discussions – FSMA 2000 S.391– Trib Proc (UT) Rules 2008 14(1) and Sch 3 para 3(3) Citations: [2012] UKUT B28 (TCC) Links: Bailii Statutes: Financial Services and Markets Act … Continue reading Arch Financial Products Llp and Others v Financial Services Authority: UTTC 30 Nov 2012

Re Digital Satellite Warranty Cover Ltd and Others: ChD 31 Jan 2011

The Financial Services Authority sought public interest orders for the winding up of three companies selling, it said, extended warranty cover plans without authorisation. The companies said that authorisation was not required, since only services in kind, namely repairs, were provided. Held: The orders were made. Warren J rejected that argument that the services were … Continue reading Re Digital Satellite Warranty Cover Ltd and Others: ChD 31 Jan 2011

Allianz Global Investors Gmbh and Others v G4S Ltd: ChD 10 May 2022

The application raises questions about the meaning of the expression ‘person discharging managerial responsibility’ (PDMR) in section 90A and Schedule 10A of the Financial Services and Markets Act 2000 Citations: [2022] EWHC 1081 (Ch) Links: Bailii Statutes: Financial Services and Markets Act 2000 90A Jurisdiction: England and Wales Financial Services Updated: 02 June 2022; Ref: … Continue reading Allianz Global Investors Gmbh and Others v G4S Ltd: ChD 10 May 2022

AMRO International Sa and Another, Regina (On the Application of) v The Financial Services Authority and Others: Admn 25 Aug 2009

Judges: Collins J Citations: [2009] EWHC 2242 (Admin) Links: Bailii Statutes: Financial Services and Markets Act 2000 165 Jurisdiction: England and Wales Cited by: Appeal from – Financial Services Authority (FSA) and Others v AMRO International Sa and Another CA 24-Feb-2010 The FSA appealed against an order refusing its request for inquiries and production of … Continue reading AMRO International Sa and Another, Regina (On the Application of) v The Financial Services Authority and Others: Admn 25 Aug 2009

Re Prudential Assurance Company Ltd and Rothesay Life Plc: CA 2 Dec 2020

‘This case raises for the first time before the Court of Appeal the approach that the court should adopt in dealing with applications to sanction transfers of insurance business under Part VII (‘Part VII’) of the Financial Services and Markets Act 2000′ Citations: [2020] EWCA Civ 1626 Links: Bailii Jurisdiction: England and Wales Insurance, Financial … Continue reading Re Prudential Assurance Company Ltd and Rothesay Life Plc: CA 2 Dec 2020

Financial Services Authority v Fradley and Another: ChD 21 Oct 2004

The authority sought an order restraining the defendants from operating a pool betting scheme whilst unauthorised. The defendant answered that it was not a collective investment scheme. Held: Where any property was acquired which was distinct from the contributions made, a collective scheme was created. That extra property might be something as little as a … Continue reading Financial Services Authority v Fradley and Another: ChD 21 Oct 2004

Financial Services Authority (Decision Notice): ICO 26 Sep 2005

The complainant asked the FSA for information relating to the calculations they completed to work out weighted average mortgage interest rates. These rates are supplied by the FSA to the Office for National Statistics for publication and are used to calculate the Mortgage Interest Rate of Relief. The FSA provided the complainant with an explanation … Continue reading Financial Services Authority (Decision Notice): ICO 26 Sep 2005

Financial Services Authority (Decision Notice): ICO 4 Sep 2007

The complainant sought information from the Financial Services Authority (‘FSA’) that was generated by and/or considered during the FSA investigation of his complaint against HSBC Investment Bank plc. The FSA refused to disclose certain information relying on section 44 of the Freedom of Information Act 2000 citing section 348 of the Financial Services and Markets … Continue reading Financial Services Authority (Decision Notice): ICO 4 Sep 2007

The Christian Institute and Others v The Lord Advocate: SC 28 Jul 2016

(Scotland) By the 2014 Act, the Scottish Parliament had provided that each child should have a named person to monitor that child’s needs, with information about him or her shared as necessary. The Institute objected that the imposed obligation to share information was outwith the powers of the Parliament. It extended the information to be … Continue reading The Christian Institute and Others v The Lord Advocate: SC 28 Jul 2016

Financial Services Authority (Decision Notice): ICO 31 Aug 2011

The complainant requested under the Freedom of Information Act 2000 any communications between the public authority and ministers or officials in the Government of Iceland, the Icelandic FSA and the Central Bank of Iceland regarding Landsbanki that were forwarded to the Treasury between 4 October 2008 and 8 October 2008. The public authority provided some … Continue reading Financial Services Authority (Decision Notice): ICO 31 Aug 2011

David John Hobbs v Financial Services Authority – FS/2010/0024: UTTC 22 Nov 2012

UTTC FINANCIAL SERVICES – FSMA s 123 – financial penalty – FSMA s 118(5) – whether conduct of Applicant constituted market abuse – FSMA s 56 – prohibition order – whether Applicant a fit and proper person Citations: [2012] UKUT B25 (TCC) Links: Bailii Statutes: Financial Services and Markets Act 2000 56 123 118(5) Jurisdiction: … Continue reading David John Hobbs v Financial Services Authority – FS/2010/0024: UTTC 22 Nov 2012

Financial Services Authority (Decision Notice): ICO 1 Sep 2010

The complainant made a freedom of information request to the public authority for information it held in relation to concerns it had about the management of the Leeds City Credit Union. The public authority refused the request under section 31 (Law Enforcement); section 40 (Personal information); section 43 (Commercial Interests) and section 44 (Prohibitions on … Continue reading Financial Services Authority (Decision Notice): ICO 1 Sep 2010

Thommes v Financial Services Authority: UTTC 12 Dec 2012

UTTC FINANCIAL SERVICES – regulated mortgage business – whether applicant fit and proper to carry out any controlled function involving exercise of significant influence – prohibition order – FSMA 2000, s56 Citations: [2012] UKUT B29 (TCC) Links: Bailii Statutes: Fincial Services and Markets Act 2000 56 Jurisdiction: England and Wales Financial Services Updated: 27 March … Continue reading Thommes v Financial Services Authority: UTTC 12 Dec 2012

Financial Conduct Authority v Macris: SC 22 Mar 2017

The claimant had complained that the appellant Authority had made public a penalty imposed on a former employer but implicating him without he being first given an opportunity to make representations. Judges: Lord Neuberger, President, Lord Mance, Lord Wilson, Lord Sumption, Lord Hodge Citations: [2017] UKSC 19, [2017] Bus LR 64, [2017] 1 WLR 1095, … Continue reading Financial Conduct Authority v Macris: SC 22 Mar 2017

Canada Inc Swift Trade Inc and Peter Beck v Financial Services Authority: UTTC 23 Jan 2013

UTTC MARKET ABUSE – share price manipulation – whether demonstrate- yes – FSMA s 118 – whether entering into contracts for difference knowing counterparty would hedge by placing orders for stocks amounts to behaviour ‘in relation to’ qualifying investments – yes- whether open to FSA to take action against dissolved Canadian corporation regulated in Canada … Continue reading Canada Inc Swift Trade Inc and Peter Beck v Financial Services Authority: UTTC 23 Jan 2013

Frederick and Others v Positive Financial Solutions (Financial Services) Ltd: ChD 5 Aug 2016

The Claimants seek to recover from the Defendant, Positive Solutions (Financial Services) Ltd (Positive Solutions), compensation for losses that they have allegedly suffered as a result of the conduct of a Mr Qureshi and a Mr Warren. Master Bowles [2016] EWHC 2030 (Ch) Bailii Financial Services and Markets Act 2000 England and Wales Vicarious Liability, … Continue reading Frederick and Others v Positive Financial Solutions (Financial Services) Ltd: ChD 5 Aug 2016

Regina v Department of Education and Employment ex parte Begbie: CA 20 Aug 1999

A statement made by a politician as to his intentions on a particular matter if elected could not create a legitimate expectation as regards the delivery of the promise after elected, even where the promise would directly affect individuals, and the costs of a child’s education. Any consequences of a failure to keep a promise … Continue reading Regina v Department of Education and Employment ex parte Begbie: CA 20 Aug 1999

Financial Services Authority (Decision Notice): ICO 8 Oct 2012

The complainant has requested from the Financial Services Authority (FSA) information relating to the circumstances in which a company ceased to be regulated. The FSA confirmed it held information covered by the request but considered it exempt from disclosure under section 44 of FOIA by virtue of section 348 of the Financial Services and Markets … Continue reading Financial Services Authority (Decision Notice): ICO 8 Oct 2012

Dickinson and Another v UK Acorn Finance Ltd: CA 25 Nov 2015

The court was asked as to circumstances in which a secured loan is prima facie unenforceable because the lender was not authorised to carry on the business of lending money on the security of a particular type of property under the 2000 Act, it is an abuse of process, on the facts found below, for … Continue reading Dickinson and Another v UK Acorn Finance Ltd: CA 25 Nov 2015

The Financial Conduct Authority v Capital Alternatives Ltd and Others: CA 25 Mar 2015

The court was asked four different schemes constituted ‘collective investment schemes’ within the meaning of section 235 of the 2000 Act, two schemes in particular, one relating to exploitation of a rice farm in Sierra Leone, the other to tradable carbon credits in respect of forest areas in Australia, Sierra Leone and the Amazon. Sir … Continue reading The Financial Conduct Authority v Capital Alternatives Ltd and Others: CA 25 Mar 2015

In re Prudential Annuities Ltd and Others: ChD 13 Nov 2014

Application for the sanction of the court to an insurance business transfer scheme under which the entire long-term insurance business of Prudential Annuities Limited . . is to be transferred to The Prudential Assurance Company Limited. Ancillary orders are sought under s112 of the Financial Services and Markets Act 2000. Birss J [2014] EWHC 4770 … Continue reading In re Prudential Annuities Ltd and Others: ChD 13 Nov 2014

In re Prudential Assurance Company Ltd and Another: ChD 24 Nov 2021

The Prudential Assurance Company Ltd as transferor and Rothesay Life plc as transferee seek an order sanctioning an insurance business transfer scheme pursuant to Part VII of the Financial Services and Markets Act 2000 [2021] EWHC 3152 (Ch) Bailii Financial Services and Markets Act 2000 England and Wales Financial Services Updated: 12 December 2021; Ref: … Continue reading In re Prudential Assurance Company Ltd and Another: ChD 24 Nov 2021

Macris v The Financial Conduct Authority: UTTC 10 Apr 2014

FINANCIAL SERVICES – preliminary hearing – third party rights – s 393 Financial Services and Markets Act 2000 – whether applicant identified in notice – yes [2014] UKUT B7 (TCC) Bailii England and Wales Cited by: At UTTC – The Financial Conduct Authority v Macris CA 19-May-2015 Appeal by the Authority against a decision by … Continue reading Macris v The Financial Conduct Authority: UTTC 10 Apr 2014

Asset Land Investment Plc and Another v The Financial Conduct Authority: CA 10 Apr 2014

The court was asked whether certain sales of land, or arrangements relating to sales of land, at six sites in England were ‘collective investment schemes’ within the meaning of section 235 of the 2000 Act. The company appealed from a finding that they were. Held: The liability on decision was upheld. Rimer, Gloster, Sharp LJJ … Continue reading Asset Land Investment Plc and Another v The Financial Conduct Authority: CA 10 Apr 2014

London Capital Group, Regina (on The Application of) v The Financial Ombudsman Service Ltd: Admn 2 Aug 2013

The court was asked whether the Financial Ombudsman Service had jurisdiction to deal with a complaint about the management of a foreign exchange trading account. This turned on whether the operation of the account involved dealing in contracts for differences or investments of a similar kind which are regulated under the 2000 Act. Leggatt J … Continue reading London Capital Group, Regina (on The Application of) v The Financial Ombudsman Service Ltd: Admn 2 Aug 2013

Banner Homes Group Plc v Luff Developments and Another: CA 10 Feb 2000

Competing building companies agreed not to bid against each other for the purchase of land. One proceeded and the other asserted that the land was then held on trust for the two parties as a joint venture. Held: Although there was no formal agreement, the first company had allowed its position to be worsened relying … Continue reading Banner Homes Group Plc v Luff Developments and Another: CA 10 Feb 2000

Green and Another v The Royal Bank of Scotland Plc: CA 9 Oct 2013

The claimants appealed against a claim that they had been mis-sold interest rate swap arrangements by their bankers, thereby suffering losses. Richards, Hellett, Tomlinson LJJ [2013] EWCA Civ 1197 Bailii Financial Services and Markets Act 2000 150 England and Wales Citing: Cited – Hedley Byrne and Co Ltd v Heller and Partners Ltd HL 28-May-1963 … Continue reading Green and Another v The Royal Bank of Scotland Plc: CA 9 Oct 2013