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Financial Services & Markets

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Our views:

  • Open-Ended Investment Companies (Amendment) Regulations 2011 - On 21 December 2011, the Open-Ended Investment Companies (Amendment) Regulations 2011 came into force with immediate effect.  BLP Funds & Financial Services Partner Jacob Ghanty explains the background and the implications for UK umbrella OEICs. Read more >
  • Protecting employees' identities from disclosure - The Court of Appeal's decision in Shah v HSBC provides helpful guidance as to when such redactions may be permissable, and should encourage litigants take a more robust approach to redacting irrelevant material.  In the specific context of bank staff reporting money laundering suspicions, the judgment provides comfort that a their identity is unlikely to be considered relevant so as to justify disclosure, and/or such disclosure would not be in the public interest.  Read more > 
  • MF Global UK enters Special Administration Regime. What happens next?
    Early on 31 October 2011, MF Global filed for bankruptcy in New York and the UK arm, MF Global UK Limited (“MF Global UK”), has entered the Special Administration Regime (“SAR”).  Richard Fleming, Richard Heis and Mike Pink from KPMG have been appointed as joint special administrators. This briefing covers some of the key legal issues that arise when a company enters the SAR. Read more >
  • FSA presses for wider powers of redress in cases of misconduct and mis-selling
    The FSA has asked Parliament to consider adopting a radically different approach to consumer redress under the new regulatory system.  This could require firms to pay compensation even where a breach of regulatory duties by the firm has not caused consumers to suffer any loss.  Read more >
  • Execution requirements under the Payment Services Regulations - FSA’s approach to non-compliance - In January 2012, the Payments Council published the minutes of a meeting held in November 2011, at which the FSA outlined its proposed supervisory approach to the Payment Services Directive (“PSD”) and to ensuring compliance with execution requirements under the Payment Services Regulations 2009 (“PSRs”). Read more> 


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Sidney Myers

Sidney Myers

BLP
Partner, Head of Financial Services

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