Financial services litigation

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The High Court has handed down detailed guidance for the first time on the correct approach in law to the Financial Ombudsman’s powers to reopen complaints.

Failure to prevent fraud… and more? Anita Clifford reports on the broadening scope of the proposed ‘failure to prevent’ offences & the likelihood of their success

Does the Foreign Act of State doctrine apply at all when the foreign state itself seeks adjudication? Joseph Dyke & Anastasia Medvedskaya explore a tricky question for the English courts

Santander UK has been fined £107m for ‘serious and persistent’ gaps in its anti-money laundering (AML) controls on business banking customers.

The UK is the ‘leading Western centre for Islamic finance’, according to a TheCityUK report, ‘Islamic finance: global trends and the UK market 2022’, published last week.

The SRA has announced the publication of a range of new guidance covering the financial sanctions regime, immigration work and effective supervision. It has also issued a warning notice on involvement in strategic lawsuits against public participation (SLAPPs).

With the war in Ukraine ongoing and the after-effects of the pandemic ‘only slowly subsiding, global markets are in turmoil’, writes Cadwalader special counsel Simon Walsh, in this week’s NLJ. And what always increases during times of turmoil? Disputes.

Arbitration is becoming an increasingly attractive prospect for financial institutions dealing with disputes: Simon Walsh explains its appeal

You are the victim of fraud—how likely are you to succeed in a claim against your fraudster’s bank? In this week’s NLJ, David McIlroy, barrister at Forum Chambers, and Jon Felce, partner, and Rosie Wild, senior associate, at Cooke, Young & Keidan, address this question.

The Financial Conduct Authority (FCA), Prudential Regulation Authority and Bank of England published a discussion paper last week on diversity monitoring and reporting at financial services firms, ‘Diversity and inclusion in the financial sector’

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MOVERS & SHAKERS

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Gilson Gray—Linda Pope

Partner joins family law team inLondon

Jackson Lees Group—five promotions

Private client division announces five new partners

Taylor Wessing—Max Millington

Banking and finance team welcomes partner in London

NEWS

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NLJ this week: Motor commissions & fiduciary duties

The landmark Supreme Court’s decision in Johnson v FirstRand Bank Ltd—along with Rukhadze v Recovery Partners—redefine fiduciary duties in commercial fraud. Writing in NLJ this week, Mary Young of Kingsley Napley analyses the implications of the rulings

NLJ this week: The power of Interpol red notices

Barristers Ben Keith of 5 St Andrew’s Hill and Rhys Davies of Temple Garden Chambers use the arrest of Simon Leviev—the so-called Tinder Swindler—to explore the realities of Interpol red notices, in this week's NLJ

NLJ this week: Approach with caution post-Mazur

Mazur v Charles Russell Speechlys [2025] has upended assumptions about who may conduct litigation, warn Kevin Latham and Fraser Barnstaple of Kings Chambers in this week's NLJ. But is it as catastrophic as first feared?

Philip Sales is selected as next Deputy President

Lord Sales has been appointed to become the Deputy President of the Supreme Court after Lord Hodge retires at the end of the year

Tax shock ahead for partners?

Limited liability partnerships (LLPs) are reportedly in the firing line in Chancellor Rachel Reeves upcoming Autumn budget

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Financial services litigation

MOVERS & SHAKERS

Gilson Gray—Linda Pope

Jackson Lees Group—five promotions

Taylor Wessing—Max Millington