News & Events
News & Events
One of Outer Temple’s Professional Associates Deborah Sabalot, has recently been published by LexisNexis Butterworths. Her handbook is entitled ‘Butterworths Securities and Financial Services Law Handbook 23rd edition’. ‘Butterworths Securities and Financial Services Law Handbook 23rd edition’ by Deborah Sabalot, has been described as the most comprehensive curation of consolidated UK legislative material on the financial services industry. Presented across two volumes, this annual handbook brings together the primary, secondary and European legislation which forms the regulatory framework for the financial services industry. To complete this comprehensive work, lists or tables of all amending enactments are included at the beginning of each Act, statutory instrument and European Directive and Regulation. Click here to view where you can purchase the handbook.…
Legal Blog & Publications, News, Financial Services 17 Jun, 2022
Stephen Doherty explores some recent cases involving “Quincecare Duty”, which has existed for over thirty years, and what these new precedents mean for modern banking fraud cases. “Quincecare Duty” was established in Barclays Bank plc v Quincecare Ltd [1992] 4 All ER 363, and tells us that a bank or financial institution may be liable for processing a fraudulent transaction if the bank has reasonable grounds for believing that there has been an attempt to defraud its customer. Remarkably, it was not until the Supreme Court handed down judgment in 2019, in Singularis Holdings Ltd (In Official Liquidation) (A Company Incorporated in the Cayman Islands) v Daiwa Capital Markets Europe Ltd [2019] UKSC 50, that a claimant had successfully argued…
Business Crime, Legal Blog & Publications, Commercial, Financial Services 8 Apr, 2022
With suspension of insolvency enforcement due to end shortly, lenders face the prospect of borrowers entering the new, free-standing moratorium. Andrew Spink QC, Justina Stewart and Saaman Pourghadiri consider the impact of the new moratorium from a lender’s perspective. How vulnerable are lenders upon entry into the moratorium? Which categories of charge holders are more vulnerable? How might lenders protect their positions, and what opportunities might a moratorium present to lenders? In this in-depth article, Andrew, Justina and Saaman consider: Protections for lenders arising from: the requirement of companies to meet lenders’ capital and interest payments during the moratorium; the disapplication of “ipso facto” provisions to most financial services contracts; and the ability of lenders, in practice, to stymy the…
Banking during Covid-19, Covid-19, Legal Blog & Publications, Financial Services 9 Sep, 2020
Adams v Options SIPP UK LLP (formerly Carey Pensions UK LLP); Nicholas Hill comments on the Judgment two years in the making: clarity and relief for SIPP operators and execution only financial services businesses. In March 2018 the Chancery Division heard the high-profile test case on the liability of Carey Pensions UK LLP, a provider and administrator of self-invested pension plans (SIPPs), to the Claimant investor, whose underlying investments were alleged to have been manifestly unsuitable. A little over two years later Judgment has finally been handed down. The SIPP industry (and indeed a wide range of institutions conducting business on an execution-only basis) will welcome the Judgment. Case Note Nicholas Hill has written a short case note considering the Judgment…
Legal Blog & Publications, Financial Services 21 May, 2020
