Financial Services in UK Law

Leading Cases
  • Financial Services Authority v Fradley & Woodward
    • Court of Appeal (Civil Division)
    • 23 Nov 2005

    The FSMA is a portmanteau statute dealing with all kinds of investment activity, not just activities in traditional investments such as securities. Finally, the FSA is empowered to seek injunctions to restrain anticipated breaches of the basic prohibition in section 19, and also orders for the disgorging of profits by persons who have contravened FSMA and the payment by them of compensation to persons who have been adversely affected by their contraventions (sections 380 and 382 of FSMA).

  • Charmaine Emptage v Financial Services Compensation Scheme Ltd
    • Court of Appeal (Civil Division)
    • 18 Jun 2013

    Section 213 of the Act imposes on the FSA a duty to set up a scheme for providing compensation in cases where financial advisers whom it has authorised to act as such are unable to satisfy claims against them in respect of regulated activities and to establish a scheme manager to run it. As Miss Carss-Frisk Q.C. was anxious to emphasise, the Act and the subordinate legislation draw a sharp distinction between activities which are regulated and those which are not.

  • R (Davies) v Financial Services Authority
    • Court of Appeal (Civil Division)
    • 30 Jul 2003

    The legislative purpose evident from the detailed statutory scheme was that those aggrieved by the decisions and actions of the Authority should have recourse to the special procedures and to the specialist Tribunal rather than to the general jurisdiction of the Administrative Court.

  • Volkswagen Financial Services (UK) Ltd v HM Revenue and Customs
    • First Tier Tribunal (Tax Chamber)
    • 18 Ago 2011

    The market or advertised rate of interest is determined by VWFS. It does this by applying a margin for overheads, a profit margin and an allowance for bad debts to its own cost of financing the vehicle. However, the VW brands use a range of incentives to make their cars more attractive to consumers, including discounts and free specification upgrades. The incentives also extend to the finance options, including offers of low or zero rate finance and low deposit requirements.

  • Financial Services Authority v Watkins (t/a Consolidated Land UK)
    • Chancery Division
    • 28 Jun 2011

    By section 235(1) the purpose or effect of the arrangements must be to enable those taking part in them to participate in or receive profits or income arising from the acquisition, management or disposal of the property or sums paid out of such profits or income. By section 235(2) the arrangements must be such that the participants do not have day to day control over the management of the property, whether or not they have the right to be consulted or to give directions.

  • R (Fleurose) v Financial Services Authority
    • Queen's Bench Division (Administrative Court)
    • 26 Abr 2001

  • The Queen (on the Application of Christopher Willford) v Financial Services Authority
    • Court of Appeal (Civil Division)
    • 13 Jun 2013

    For example, in the context of legislation to protect public health the court is very likely to infer that Parliament intended the statutory procedure to apply, even in cases where it is alleged that the decision was arrived at in a way that would otherwise enable it to be challenged on public law grounds, because it enables the real question in dispute to be decided.

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Books & Journal Articles
  • Future legislation affecting financial services
    • Núm. 8-1, Enero 2000
    • Journal of Financial Regulation and Compliance
    • 84-93
    The financial services industries is facing a number of important legal developments. The most publicised of these is the coming into force on 1st March, 2000 of the new Data Protection Act 1998. T...
  • FINANCIAL SERVICES: DRAFTING PRIVATE CLIENT AGREEMENTS
    • Núm. 3-2, Febrero 1995
    • Journal of Financial Regulation and Compliance
    • 147-152
    Investment businesses and their advisers, have gone through the trauma of the new settlement in financial services regulation and emerged into a brave new dawn of what is supposedly less burdensome...
  • Bibby Financial Services.
    • Núm. 2001, Enero 2001
    • Financial Management (UK)
    • Roberts, Louisa
    • Jack Chan
    ...On the move is edited by Louisa Roberts. Please e-mail her with news of your move at louisa.roberts@cimaglobal.com Jack Chan has been appointed e-commerce project manager at Bibby Financial Services. He joins from Carpe Diem Innovations, where he p......
  • Bibby Financial Services.
    • Núm. 2003, Mayo 2003
    • Financial Management (UK)
    • On the move - Brief Article
    ...Bibby Financial Services has promoted four new directors. Jonathan Fish, Ian Burman, Andrew Meadwell and Stewart Chesters. ......
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Law Firm Commentaries
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