56 results
13 Mar 2019 09:33
Combatting push payment fraud: What’s the latest?Banking & Finance Litigation specialists Louise Power and Rachel Elgar provide an update on proposed measures for combatting authorised push payment fraud. What is authorised push payment fraud? Payments are described as ‘push payments’ when the payer obtains the payee’s account details and more...
7 Mar 2019 10:54
FCA confirms introduction of rent-to-own price capThe Financial Conduct Authority (FCA) has confirmed that it will introduce a price cap for the rent-to-own (RTO) sector. This price cap will be introduced from 1 April 2019 and the FCA estimates that it will save consumers up to £22.7 million a year. Summary The FCA consulted on an RTO price cap in more...
25 Feb 2019 15:24
FCA issues its first decision under competition lawOn 21 February 2019, the FCA issued a decision which finds that 3 asset management firms breached competition law. This is the FCA’s first formal decision under its competition enforcement powers. The infringements found by the FCA consisted of the sharing of strategic information, on a bilateral more...
13 Feb 2019 16:04
Claims Management Companies: FCA releases Policy StatementFollowing its proposals and consultation period [footnote 1], the Financial Conduct Authority (FCA) has released its Policy Statement on how it intends to regulate Claims Management Companies (CMCs) from 1 April 2019. Walker Morris Banking & Finance Litigation Partners Louise Power and Rob Aberdein more...
12 Feb 2019 16:21
Aggregates Levy State Aid Appeals Withdrawn after hearing but before judgmentA Complex dispute concerning the Aggregates Levy has now been concluded after over 14 years of litigation in the European and domestic courts. Three separate but linked appeals to the General Court have been withdrawn after hearings in Luxemburg but before Judgments were handed down. The Aggregates more...
11 Feb 2019 11:12
Charging orders - an effective debt recovery toolSo, you have an unpaid invoice, issued legal proceedings and obtained a county court judgment against your debtor. What happens next? It’s likely that if you have reached this stage, your debtor has not been particularly co-operative and you need to consider enforcement. Debtor profiling is more...
28 Jan 2019 14:10
Kingman Review – The Future Regulation of Financial ReportingBen Hubble QC and Miles Harris of 4 New Square look at the potential impact of reforms suggested by the Kingman Review and the Competition & Market Authority’s Update Paper on the audit sector. Introduction The days before Christmas 2018 saw the publication of two very important documents for the more...
23 Jan 2019 16:05
Newsflash: Court of Appeal confirms what is a ‘mistake’ for the purposes of rectifying HM Land RegisterIn August 2018 Walker Morris published a briefing on the High Court’s decision in the Antoine case, which further considered what is a ‘mistake’ for the purposes of rectifying HM Land Register. That decision was appealed and the Court of Appeal has now dismissed the appeal and confirmed [footnote 1 more...
22 Jan 2019 11:18
New rules banning gender stereotyping: Sector-specific guide to what businesses need to knowNew rules banning harmful gender stereotyping: What financial services clients need to know New rules banning harmful gender stereotyping take effect soon New rules banning harmful gender stereotyping: What retailers and marketers need to know You can print all articles in this newsletter by more...
18 Jan 2019 15:23
Receivables Finance: the prohibition on assignment is now in forceThe Business Contract Terms (Assignment of Receivables) Regulations 2018 came into force on 31 December 2018 meaning that parties to a contract in the UK may no longer be able to prohibit the assignment of receivables arising in respect of supplies made under it, even if it is a long term supply more...
15 Jan 2019 10:46
Implying ‘Braganza’ duties into mortgage contractsA recent High Court case has shed some light on the extent to which the courts may imply additional duties into mortgage agreements requiring lenders to make decisions by way of processes that would be “lawful and rational in the public law sense”. Banking Litigation specialist Christina Gill more...
10 Jan 2019 12:02
Loyalty penalty super-complaint – An updateThe Competition and Markets Authority and the Financial Conduct Authority have responded to the Citizens Advice super-complaint about the so-called ‘loyalty penalty’ affecting long-term existing customers in the mobile, broadband, cash savings, home insurance and mortgages markets. Walker Morris’ more...
8 Jan 2019 14:51
Capital Markets Update – January 2019Welcome to the current edition of Capital Markets Update, the monthly briefing from the Corporate Group at Walker Morris rounding up the previous month’s developments within the equity capital markets and looking ahead to future developments. December’s news QCA publishes corporate governance more...
8 Jan 2019 12:24
McDonagh v Bank of Scotland & Others [2018] EWHC 3262 (Ch)McDonagh v Bank of Scotland & Others [2018] EWHC 3262 (Ch) concerned a dispute between a borrower, Mr McDonagh (“the Claimant”) and a lender, Bank of Scotland (“the Bank”) in respect of the borrower’s default on a loan facility which had been used to refinance commercial property in an out of more...
7 Jan 2019 11:39
Newsflash: Various FCA reports, proposals and guidance issued 18 December 2018On 18 December 2018 the Financial Conduct Authority published various items relating to consumers and credit of which lenders and social landlords should be aware: The FCA has made new rules strengthening protections for consumers using doorstep lending, catalogue credit and store cards. Some of more...
4 Jan 2019 15:43
Financial Services Matters – January 2019Welcome to the latest edition of Financial Services Matters, Walker Morris’ regular newsletter for Financial Services clients. Our round up of what’s going on in the courts, on the statute books and at the Regulators across the UK’s jurisdictions is brief, relevant, non-technical and light-hearted – more...
17 Dec 2018 14:56
Taking possession without an order: A recipe for an unfair relationshipLenders that have been granted security over a debtor’s property typically have two options when seeking to take possession: they can apply to the courts for a possession order; or they can exercise their common law right and take possession without a court order. Until recently, it seemed more...
6 Dec 2018 14:10
Permission to Challenge a Trustee in Bankruptcy’s RemunerationJames Davies analyses the case of Singh v Hicken [2018] EWHC 3277 (Ch); an appeal against the decision of a County Court judge refusing permission to Mr Singh, a discharged bankrupt, to challenge his trustee’s remuneration. Under Insolvency Rule 2016 18.35 the permission of the court is required more...
28 Nov 2018 15:50
Welcome outcome for lenders, despite fraud and mistakeIn Santander UK plc v Fletcher & Anor [footnote 1], Mrs Fletcher appealed against a County Court decision allowing the mortgage lender, Santander, a right of sale in respect of her home, despite the court also finding that the mortgage should be set aside on the grounds of undue influence. Banking more...
28 Nov 2018 14:11
No implied agreement/duties between bank and commercial borrowerThe High Court has resisted a commercial borrower’s attempt to imply an over-arching contractual agreement and equitable duties between it and its lender. Walker Morris’ Banking & Finance Litigation partners Rob Aberdein and Richard Sandford comment on the recent case of Standish v Royal Bank of more...
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