Training & Knowledge: February 2014

20th Feb 2014Blog

The FCA investigates additional benchmarks

On 4th February the Treasury Select Committee heard evidence from, amongst others, Martin Wheatley, the Chief Executive of the Financial Conduct Authority. During a hearing lasting a little more than 2 hours, about 10 minutes of the evidence was devoted to the fixing of the WM/Reuters foreign exchange benchmark. (Clicking on the link above, the […]

19th Feb 2014Blog

Court of appeal rules that financial ombudsman service awards are binding on consumers

The Court of Appeal’s landmark ruling in Clark v In Focus Asset Management & Tax Solutions [2014] EWCA Civ 118, was issued on Friday 14 February and has been welcomed by the financial services market and professional indemnity insurers. Delivering the unanimous judgment of the Court, Arden LJ confirmed that when a consumer accepts a […]

18th Feb 2014Blog

Further arrests by SFO in LIBOR manipulation investigation

Yesterday, 17th February, the Serious Fraud Office confirmed it had charged a further three City traders with conspiracy to defraud as part of its ongoing investigation into the fixing of LIBOR rates. Unlike Tom Hayes, Terry Farr and James Gilmour, who were all charged last year with colluding to manipulate the Yen LIBOR rate, those […]

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