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TSC grills FSA on RDR
Before the 9 March Treasury Select Committee (TSC) hearing on the RDR, Conservative MP Mark Garnier had promised to give FSA chief executive Hector Sants and chairman Adair Turner "hell".
Read moreDamning criticism of the FSA - by the Chief Executive of the FSA
In his recent speech on the new regulatory framework, the FSA's Chief Executive, Hector Sants, provided a damning critique of the FSA's past approach to consumer protection, effectively conceding the failure of the FSA's headline TCF initiative.
Read moreCan employers spy on their employees?
The US media have reported a number of instances in which companies have hired private detectives to spy on workers taking "sickies".
Read moreFinality. Finally? Don't hold your breath…
Giving evidence to the Treasury Select Committee yesterday, FSA chief executive, Hector Sants conceded that the regulator is willing - if the Committee recommends - to re-examine whether a 15 year long-stop time bar should apply to financial services complaints.
Read moreGamekeepers and poachers should be friends
We noted in August 2010 that staff were leaving the FSA in record numbers after the general election, including all three managing directors.
Read moreFuzzy-matching and the sanctions regimes
Given the ongoing political unrest in the Middle East and the speed at which individuals, entities and entire regimes can be added to HM Treasury and OFAC's consolidated sanctions lists (most recently, Libya and Tunisia), ...
Read moreKaupthing arrests: will advisers be liable regardless?
The dramatic news today about dawn raids and nine arrests made by the SFO in London and Reykjavik at the culmination of a year-long investigation into Kaupthing's collapse will, regardless of the outcome of the criminal enquiries, have little bearing on any liabilities faced by advisers for complaints from clients who lost money in the collapse of the Icelandic bank.
Read moreGoing, going, gone concern
The Chief Executive of the FSA in a recent speech has talked about how the new FCA will approach prudential regulation of those firms for which it is responsible. This includes all insurance brokers.
Read moreThe FSA's last risks warning
The new FCA's focus will be 'conduct risk', "that is, the risk that firm behaviour will result in poor outcomes for customers."
Read moreOFT promises faster enforcement kick off
The OFT has published final Guidance setting out its process and procedures when undertaking Competition Act investigations.
Read moreEqual treatment means just that – ECJ confirms invalidity of derogation from Gender Directive
In a landmark judgment published today, the ECJ ruled that insurers cannot charge different premiums to women and men based on gender. As anticipated by us and the UK insurance market, the ECJ has agreed with the Advocate General's recommendations in the Test-Achats case.
Read moreGender Directive: will Sheilas' Wheels stop rolling?
The insurance industry anxiously awaits the European Court of Justice (ECJ) judgment in the Test-Achats case expected today.
Read moreAnonymity order lifted in marital privacy case
A High Court judge has lifted an anonymity order protecting the identity of a formerly married couple involved in a privacy dispute.
Read morePublication of enforcement action: only after Warning Notice but still a bad idea
On Thursday morning last week, I caused a stir with my reaction to the leaked news (in an FT interview) about the new FCA's planned approach to publication of enforcement cases.
Read moreThe Article 8 rights of sex offenders
A recent decision of the Supreme Court has unleashed a populist wave directed at the European Court of Human Rights and European judges generally.
Read moreA slightly happier ending for non-deliberate market abuser
I wrote on 2 February about David Massey and his partial success before the Tribunal.
Read moreForced sterilisation case heard in public
On 15 February 2011 Hedley J ordered that a case proceeding in the Court of Protection which featured medical information of the highest sensitivity should be held in open court.
Read moreMax Mosley and the public interest in exposing hypocrisy
In an interesting interview with the Financial Times, the UK's most indomitable privacy claimant, Max Mosley, challenges the notion that there might be a public interest in exposing hypocrisy.
Read moreSection 404 and the single firm
When the FSA decided against turning the endowments and PPI mis-selling problems into formal s.404 reviews (akin to the Pensions Review), it was assumed s.404 would remain in the regulatory tool-box; an idle threat that the FSA would struggle to put into action.
Read moreLloyds Bank's £500m problem is the first 'single firm consumer redress scheme'
Lloyds Bank announced today that it has agreed an estimated £500m 'customer review and contact programme' relating to potentially confusing information about the Halifax standard variable mortgage rate between 2004 and 2007.
Read moreFSA does its little bit to help the Middle East
Political instability in any country can result in sudden cash or asset movements out of the jurisdiction.
Read moreFSA avoids April Fool!
The FSA has announced that it will begin the process of reorganisation to create a new prudential business unit and consumer and markets business unit on 4 April.
Read moreMeteor hit by arbitrary FOS decision
The industry press has reported that Meteor Asset Management had a complaint upheld by FOS about advice on Lehmans structured products because they apparently failed to disclose the downgrade in credit rating (to below Standard & Poor’s A+ grade) and, consequently, the advice was unsuitable thereafter.
Read moreA victory for financial services firms who play by the rules
In the recent case of Michael Duthie Wilson, PS Trustees Ltd v MF Global UK Limited, GNI Limited (In Members' Voluntary Liquidation) [2011] EWHC 138 (QB) it was held that financial investment brokers had complied with the COB rules when the Claimants as 'intermediate customers' and were not liable for trading losses suffered by them.
Read moreNo privacy in Tweets
Publicly accessible postings on Twitter and other social media are not private, according to rulings by the Press Complaints Commission.
Read moreICO fines councils for losing laptops
On 8 February 2011 the Information Commissioner’s Office (“ICO”) issued two monetary penalty notices for serious breaches of the Data Protection Act.
Read moreExtended warranty cover plans in breach of s.19 FSMA
The FSA's recent action in Re Digital Satellite Warranty Cover Ltd to wind up companies with 'public interest' petitions for carrying on insurance business without FSA authorisation, in breach of the general prohibition in s.19 FSMA, demonstrates its willingness to take robust action to tackle those who attack the perimeter by engaging in regulated activities without authorisation.
Read moreSupreme Court welcomes Twitter
The use of Twitter is now officially sanctioned in the Supreme Court.
Read moreAn innocent crime? FSA's fine for market abuse halved by Upper Tribunal
The Upper Tribunal has ruled that the FSA was too harsh when fining a former banker for market abuse.
Read moreShock decision: sportsman not unmasked
The identity of the sportsman officially known as JIH remains confidential.
Read moreAnonymity proposed for teachers accused by pupils
The controversial Education Bill was published on 26 January 2011.
Read moreThe FSA sets new standards of professionalism
The FSA's Policy Statement on professionalism (part of the RDR) was published on 20 January 2011.
Read moreBlanket reporting restriction set aside by Court of Appeal
The Court of Appeal has discharged an order the effect of which would have been to postpone the reporting of an important criminal case for several months.
Read moreLegal Ombudsman swamped by complaints against claims management companies (CMCs)
The Legal Ombudsman, which launched in October 2010 under rules similar to the FOS' DISP regime, recently reported to a professional negligence conference that some 20,000 enquiries were received in its first few months.
Read morePhone-hacking claims - a new legal pursuit
The pack of lawyers representing the alleged victims of phone hacking by the News of the World seems to grow on an almost weekly basis.
Read moreA mass outbreak of anonymity: CDE and FGH v MGN and LMN
It is not unusual for claimants in privacy cases to be anonymised. It is less common for defendants and distinctly unusual for non-parties.
Read moreECtHR upholds Campbell v MGN
Just under seven years after the House of Lords found by 3 to 2 against the Daily Mirror in the landmark privacy case by Naomi Campbell, the European Court of Human Rights has rejected MGN's attempt to persuade it that UK law was incompatible with Article 10.
Read moreNo exclusion of bereaved families from 7/7 inquest
The Divisional Court has refused the Government's application for judicial review of the 7/7 Coroner's decision not to exclude victims' families from the court during its private sessions.
Read more7/7 footage withheld from public to protect privacy of victims and their families
The Coroner conducting the inquest into the terror attacks in London on 7 July 2005 has ordered that certain footage shown in court of the aftermath of the 7/7 attacks should not be released to the media.
Read moreSuper-injunctions - an update
Super-injunctions are injunctions that prevent publication of the fact that the court has made an injunction.
Read moreShould the parties in privacy cases be anonymised? - a summary of the recent judgments
Since the end of the summer at least eight judgments have considered whether the parties to successful applications for privacy injunctions should be anonymised.
Read moreAnonymity of egg and sperm donors
A survey by Manchester Fertility Services highlights issues of privacy concerning egg and sperm donation.
Read moreNo injunction for local authority that failed to give notice to media
A judge has refused to make an order gagging media organisations who were not given proper notice of the application for the order.
Read moreMedia access to Court of Protection
The Independent newspaper has won the right to attend and report on a case in the Court of Protection.
Read moreUK referred to ECJ over internet privacy
On 30 September 2010 the European Commission announced that it referred the UK to the European Court of Justice for its alleged failure to implement EU laws on the confidentiality of electronic communications such as emails or internet browsing.
Read moreUse (and abuse?) of anti-terrorism powers by police
A Home Office report on the operation of police powers under the Terrorism Act 2000 and subsequent legislation has revealed that in 2009/10 a total of 101,248 stop-and-searches were made pursuant to s40 of the Terrorism Act 2000, but not one of the stop-and-searches resulted in an arrest being made on a terrorism charge.
Read moreComputer hacker fined £21,000
A computer hacker who admitted offences under the Computer Misuse Act 1990 has been fined £21,000 and given a 36-week prison sentence suspended for two years.
Read moreNew report on the 'Surveillance Society'
The Information Commissioner has expressed concern over the lack of scrutiny of new laws affecting privacy.
Read moreUndercover reporting - 'Cablegate'
On 20 December 2010 the Daily Telegraph published a report based on secretly recorded conversations with the Business Secretary Vince Cable.
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