03/03/2023
Implied terms and unjust enrichment: silence in court
The High Court held that Mr Barton was not entitled to anything as there was no contractual obligation on Foxpace to pay him if the property sold for less than £6.5 million.
Legal, Regulation & Compliance
03/03/2023
Addleshaw Goddard: Financial Services & Banking News
The guidelines set out in this consultation provide overarching guidance for global and domestic market practices
03/03/2023
Bank of England signals base rate may have hit stable point
The base rate currently sits at 4 per cent as of the last meeting of the monetary policy committee at the beginning of February - a fifteen year high.
03/03/2023
Implementation of EU’s Representative Actions Directive takes shape in Germany
In contrast to the model declaratory action, which is solely aimed at establishing facts and legal questions, the new redress action will make it possible to bring a joint claim for performance against businesses.
03/03/2023
Withers invests in digital estate planning platform Zenplans to deliver new services to clients
Once an account is set up, it can be shared with family members, advisors and executors so that everyone has access to the system at the appropriate time.
03/03/2023
FCA opens enforcement investigation into LME nickel trading suspension
BoE to closely supervise LME Clear
03/02/2023
Swiss bank employees indicted in connection to Russia president’s vast fortunes
The charges stem from bank accounts linked to Vladimir Putin’s childhood friend Sergei Roldugin, whose web of offshore companies was first revealed in the Panama Papers.
03/02/2023
Switzerland to Review its Banking Secrecy Law After Suisse Secrets Revelations
The probe will now determine whether Article 47 needs to be updated.
03/02/2023
Withers' charity and philanthropy team wins recognition in major awards and directories
Our practice is renowned for advising 65% of the UKs leading charities.
03/02/2023
Linklaters advises Macquarie on selling its stake in Energie Steiermark
The business aims to significantly expand Energie Steiermark’s role for clean energy within the grid through additional investment in smart grid infrastructure alongside the deployment of new wind, solar and hydropower capacity.
03/02/2023
UK banks asked to explain why some savings rates remain so low
The committee wants to know whether net interest margins are linked to the amounts that bank bosses are being paid.
03/02/2023
FCA launches study to assess uncompetitive data markets
Competition not working as it should
03/01/2023
IFA to launch Consumer Duty questionnaire next month
The questionnaire was initially set to be launched last year, but had to be postponed as the firm looked to refine it.
03/01/2023
UK hydrogen safety law: the developing framework
This seems to be based on media reporting and striking images of high profile safety incidents often from decades ago.
03/01/2023
Addleshaw Goddard: Financial Services & Banking News
The Grid provides information on each individual initiative such as the lead authority Forum member institution, the expected key milestones, indicative impact on firms and a quarter-by-quarter timetable for key developments.
02/28/2023
Negligence claim against law firm to go ahead after limitation ruling
There is an outstanding issue as to whether the law firm owed a duty of care to the second claimant – RBC Trust Company (Jersey) Ltd, a professional provider of trusts services based in Jersey
02/28/2023
BIS seeks nominees for cross-border payment taskforce
Nominees should be able to commit sufficient time and organise resources from within their organisation to support the work of the task force until at least the end of 2024.
02/28/2023
FINMA concludes “Greensill” proceedings against Credit Suisse
FINMA will appoint an audit mandatary to review compliance with these supervisory measures.
02/27/2023
Norwegian billionaire fails to overturn conviction for lying to UK court in £285m Deutsche Bank dispute
But after struggling to recover debts from Sebastian Holdings, the lender pursued Vik directly.
02/27/2023
FCA issues warning against unauthorised bank
Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised or registered by the FCA.