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Emptage v Financial Services Compensation Scheme Ltd: CA 18 Jun 2013

The claimants had acted on mortgage advice given by a company regulated by the FSA, as a result of which, on the collapse of the property market in Spain, they had lost their investment and their home which had been charged to assist in the purchase of it. The company giving the advice had not … Continue reading Emptage v Financial Services Compensation Scheme Ltd: CA 18 Jun 2013

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

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

Adams v Options UK Personal Pensions Llp: CA 1 Apr 2021

This appeal arises out of the transfer by the claimant, Mr Russell Adams, of a pension fund into a ‘self-invested personal pension’ (or ‘SIPP’) and the investment of the proceeds in ‘storepods’. Judges: Lord Justice Newey Citations: [2021] EWCA Civ 474 Links: Bailii Statutes: Financial Services and Markets Act 2000 Jurisdiction: England and Wales Financial … Continue reading Adams v Options UK Personal Pensions Llp: CA 1 Apr 2021

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

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

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

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

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

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

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

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

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

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

Commissioner of Police for the Metropolis v Reeves (Joint Administratix of The Estate of Martin Lynch, Deceased): HL 15 Jul 1999

The deceased was a prisoner known to be at risk of committing suicide. Whilst in police custody he hanged himself in his prison cell. The Commissioner accepted that he was in breach of his duty of care to the deceased, but not that that breach was caustive of the death by suicide. Held: Police and … Continue reading Commissioner of Police for the Metropolis v Reeves (Joint Administratix of The Estate of Martin Lynch, Deceased): HL 15 Jul 1999

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

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

De Boinville v I G Index Ltd: ComC 10 Dec 2021

The Claimant, Mr Nicholas de Boinville, brings claims against the Defendant, a provider of Spread Betting Services on an ‘execution only’ basis, for damages for breach of contract, breach of fiduciary duty, misrepresentation and a statutory claim under section 150 (which was replaced on 1 April 2013) by section 138D of the Financial Services and … Continue reading De Boinville v I G Index Ltd: ComC 10 Dec 2021

Regina (Daly) v Secretary of State for the Home Department: HL 23 May 2001

A prison policy requiring prisoners not to be present when their property was searched and their mail was examined was unlawful. The policy had been introduced after failures in search procedures where officers had been intimidated by the presence of prisoners. Particularly when examining documents subject to legal professional privilege, the rules did not allow … Continue reading Regina (Daly) v Secretary of State for the Home Department: HL 23 May 2001

Bank Mellat v Her Majesty’s Treasury (No 2): SC 19 Jun 2013

The bank challenged measures taken by HM Treasury to restrict access to the United Kingdom’s financial markets by a major Iranian commercial bank, Bank Mellat, on the account of its alleged connection with Iran’s nuclear weapons and ballistic missile programmes. The bank sought to have the direction given under section 7 of the 2008 Act. … Continue reading Bank Mellat v Her Majesty’s Treasury (No 2): SC 19 Jun 2013

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

Huang v Secretary of State for the Home Department: HL 21 Mar 2007

Appellate Roles – Human Rights – Families Split The House considered the decision making role of immigration appellate authorities when deciding appeals on Human Rights grounds, against refusal of leave to enter or remain, under section 65. In each case the asylum applicant had had his own request refused but that of his family had … Continue reading Huang v Secretary of State for the Home Department: HL 21 Mar 2007

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

Lord Carlile of Berriew QC, and Others, Regina (on The Application of) v Secretary of State for The Home Department: SC 12 Nov 2014

The claimant had supported the grant of a visa to a woman in order to speak to members of Parliament who was de facto leader of an Iranian organsation which had in the past supported terrorism and had been proscribed in the UK, but that proscription had been cancelled by the Tribunal. Lord Carlile appealed … Continue reading Lord Carlile of Berriew QC, and Others, Regina (on The Application of) v Secretary of State for The Home Department: SC 12 Nov 2014

Mohammed Karim v FSA: UTTC 15 Mar 2011

UTTC FINANCIAL SERVICES – Part IV Permission – Refusal by Authority – Application for permission to conduct insurance broking activity – Lack of understanding of requirements of regulatory system – Lack of experience – Threshold Conditions 4 and 5 – Reference dismissed – FSMA 2000 s40 Sir Stephen Oliver QC [2011] UKUT B18 (TCC) (TCC) … Continue reading Mohammed Karim v FSA: UTTC 15 Mar 2011

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 accounting records by the defendant accountants to satisfy a request issued by the US Securities and Exchange Commission. Held: The FSA had properly assessed the request, considering the seriousness of the allegations, and the strong public interest in mutual assistance. Such … Continue reading Financial Services Authority (FSA) and Others v AMRO International Sa and Another: CA 24 Feb 2010

British Bankers Association, Regina (on The Application of) v The Financial Services Authority and Another: Admn 20 Apr 2011

The claimant sought relief by way of judicial review from a policy statement issued by the defendants regarding the alleged widespread misselling of payment protection insurance policies, and the steps to be taken to compensate the purchasers. They objected that the policy statement would require them to act beyond their obligations in law. Held: The … Continue reading British Bankers Association, Regina (on The Application of) v The Financial Services Authority and Another: Admn 20 Apr 2011

Asset Land Investment Plc and Another v The Financial Conduct Authority: SC 20 Apr 2016

Proceedings were brought against the appellant’s associated parties, alleging that they had carred on regulated activities without authorisation, contrary to section 19 of the2000 Act. They had offered various plots of land for sale, suggesting they would be seeking planning development permissions. Held: The appeal was dismissed. The company’s activities operated as ‘collective investment schemes’ … Continue reading Asset Land Investment Plc and Another v The Financial Conduct Authority: SC 20 Apr 2016

Digital Satellite Warranty Cover Ltd and Another v Financial Services Authority: SC 13 Feb 2013

The appellants challenged an order for the dissolution of their company under the 2000 Acts. They had provided warranties for assorted consumer electrical goods which amounted to insurance, but said that they were not required to be registered under the Act since only services in kind were ever provided. Held: The appeal failed. The fact … Continue reading Digital Satellite Warranty Cover Ltd and Another v Financial Services Authority: SC 13 Feb 2013

Brazzill and Others v Willoughby and Others: CA 27 May 2010

The regulated bank Kaupthing Singer and Friedlander Ltd (KSF) was in financial difficulties. The Bank of England required KSF to credit to a trust account all future deposits. KSF later went into insolvency. Some deposits had been credited to the trust account but not all. The court was asked whether the sum held was for … Continue reading Brazzill and Others v Willoughby and Others: CA 27 May 2010

Rollins, Regina v: SC 28 Jul 2010

The court was asked whether the Financial Services Authority had a power to prosecute money laundering offences under the 2002 Act, or whether, as contended by the defendant, its powers were limited to sections under the 2000 Act. Held: The defendant’s appeal failed. The FSA had the powers it contended for, and the provisions of … Continue reading Rollins, Regina v: SC 28 Jul 2010

Office of Government Commerce v Information Commissioner and Another: Admn 11 Apr 2008

The Office appealed against decisions ordering it to release information about the gateway reviews for the proposed identity card system, claiming a qualified exemption from disclosure under the 2000 Act. Held: The decision was set aside for breaching the rule against impugning an action of Parliament. The minister had made a statement as to the … Continue reading Office of Government Commerce v Information Commissioner and Another: Admn 11 Apr 2008

A v Secretary of State for the Home Department, and X v Secretary of State for the Home Department: HL 16 Dec 2004

The applicants had been imprisoned and held without trial, being suspected of international terrorism. No criminal charges were intended to be brought. They were foreigners and free to return home if they wished, but feared for their lives if they did. A British subject, who was suspected in the exact same way, and there were … Continue reading A v Secretary of State for the Home Department, and X v Secretary of State for the Home Department: HL 16 Dec 2004

Rollins, Regina v: CACD 9 Oct 2009

The court was asked whether the Financial Services Authority had itself the power to prosecute offences under the 2002 Act. The defence said that the FSA’s powers were limited to offences under the 2000 Act. The FSA relied on its common law power to bring a prosecution. Held: the FSA was not a statutory body, … Continue reading Rollins, Regina v: CACD 9 Oct 2009

Scott v Southern Pacific Mortgages Ltd and Others: SC 22 Oct 2014

The appellant challenged a sale and rent back transaction. He said that the proposed purchaser had misrepresented the transaction to them. The Court was asked s whether the home owners had interests whose priority was protected by virtue of section 29(2)(a)(ii) of, and Schedule 3, paragraph 2, to the Land Registration Act 2002. Held: The … Continue reading Scott v Southern Pacific Mortgages Ltd and Others: SC 22 Oct 2014

Fox Hayes v Financial Services Authority: UTTC 30 Mar 2010

UTTC PENALTY – Authorised Person – Partnership – Decision Notice imposing penalty issued after termination of Partnership – whether regulatory authority has power to impose penalty on dissolved partnership – whether partners are personally liable – who rank as partners in dissolved partnership – FSMA 2000 32(1), 40(1(c) and 206(1). Sir Stephen Oliver QC [2010] … Continue reading Fox Hayes v Financial Services Authority: UTTC 30 Mar 2010

Foley v Post Office; HSBC Bank Plc (Formerly Midland Bank Plc) v Madden: CA 31 Jul 2000

When an Employment Tribunal looked at whether a dismissal was reasonable, the test related not to an assessment of what tribunal members would think or do, but rather whether to ask whether the employer’s response was within a ‘band or range of reasonable responses’ of a reasonable employer to the situation. Earlier conflicting decisions were … Continue reading Foley v Post Office; HSBC Bank Plc (Formerly Midland Bank Plc) v Madden: CA 31 Jul 2000

Regina v Secretary of State for the Home Department ex parte Doody and Others: HL 25 Jun 1993

A mandatory lifer is to be permitted to suggest the period of actual sentence to be served. The Home Secretary must give reasons for refusing a lifer’s release. What fairness requires in any particular case is ‘essentially an intuitive judgment’, changes over time, and the requirements are flexible and closely conditioned by the legal and … Continue reading Regina v Secretary of State for the Home Department ex parte Doody and Others: HL 25 Jun 1993

Wrotham Park Estate Ltd v Parkside Homes Ltd: ChD 1974

55 houses had been built by the defendant, knowingly in breach of a restrictive covenant, imposed for the benefit of an estate, and in the face of objections by the claimant. Held: The restrictive covenant not to develop other than in accordance with an agreed lay-out plan was valid. It remained, or had not been … Continue reading Wrotham Park Estate Ltd v Parkside Homes Ltd: ChD 1974

HM Treasury v The Information Commissioner: Admn 21 Jul 2009

Disclosure of Government’s Legal Advice The interested party sought to obtain the legal opinion on which the Prime Minister had based his assertion that the Financial Services and Markets Bill complied with Human Rights. The respondent refused claiming protection under the section, and refused to say whether any advice had been taken. The respondent now … Continue reading HM Treasury v The Information Commissioner: Admn 21 Jul 2009