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Financial Services Disputes and Regulation

Author: Herbert Smith Freehills Podcasts

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A series of thought leading podcasts ranging on topics and sectors by Herbert Smith Freehills. For more information please visit www.herbertsmithfreehills.com
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In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Nora van Meerwijk.You can find links to our blogs on the cases covered in this podcast below:Court of Appeal overturns High Court’s high-profile Italian swaps decisionHigh Court confirms debtor must prove illegality where payment withheld as a result of sanctionsHigh Court dismisses force majeure and trade sanctions defences in breach of contract claim, and considers “ownership and control” test under UK sanctionsCourt of Appeal allows secret commissions claim to proceed as representative action on “opt out” basisCPR 19.8 representative action: “bifurcated process” adopted in claim by bank against representative defendantHigh Court strikes out novel bid to bring securities class action using CPR 19.8 representative action as “opt-in” procedureSupreme Court confirms key elements of claim in knowing receipt in failed claim against bankDon't forget to subscribe to the banking litigation blog.
In this FESTIVE SPECIAL edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guests Mark Tanner, Charlotte Benton, Scott Warin, Tom Wyer, Catherine Bagge and Janelle Chang.You can find links to our blogs on the cases covered in this podcast below:High Court refuses interim payment application in Russian sanctions-related litigationHigh Court finds that lender suffered no loss despite negligent valuation of securityPrivy Council considers Norwich Pharmacal and Bankers Trust disclosure orders against banksCompany not ordered to disclose privileged documents to shareholders in context of late application in securities class actionTrilogy of decisions shows English courts’ approach to granting anti-suit injunctions in support of foreign-seated arbitrationsHigh Court confirms that conscious "awareness" of a representation is an essential (and distinct) element to a claim for misrepresentationDon't forget to subscribe to the banking litigation blog.
In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Charlotte Benton. You can find links to our blogs on the cases covered in this podcast below:High Court finds defendant bank did not dishonestly assist company restructure to put assets beyond reach of creditorsCourt of Appeal confirms judgments can be entered in favour of Russian sanctioned parties but leaves uncertainty in relation to the “ownership and control” testSanctions tracker – new UK guidance following Mints decision on ownership and controlCorrespondence about possibility of ADR was not “without prejudice” despite being marked as suchSupreme Court clarifies when a stay of court proceedings will be granted in favour of arbitration under s.9 Arbitration Act 1996High Court rules on common law enforceability of foreign judgment in E&WRegime of fixed recoverable costs now in force for claims up to £100,000Don't forget to subscribe to the banking litigation blog.
In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Scott Warin. You can find links to our blogs on the cases covered in this podcast below: The Supreme Court’s judgment in Philipp v Barclays: key takeaways for financial institutions executing customer paymentsHigh Court confirms refusal of permission for ClientEarth derivative action against Shell directorsHigh Court refuses permission to continue derivative claim against bank as an alleged shadow directorSupreme Court decision today means most existing UK litigation funding agreements likely to be unenforceableUK government confirms plans for compulsory mediation in the County Court and decides against statutory regulation of the mediation sectorEnglish Commercial Court takes rare decision to refuse enforcement of arbitration award on public policy grounds in crypto case Don't forget to subscribe to the banking litigation blog.
In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Eleanor Dole Sheaf.You can find links to our blogs on the cases covered in this podcast below:High Court considers impact of Russian sanctions regimes in UK, EU and US on payment obligations under standby letter of creditHigh Court dismisses claim to recover US investment bank’s success fee in connection with the public offer of shares in Indian bankHigh Court refuses permission for climate-change activist shareholder to bring derivative action on behalf of Shell plc against its directorsLitigation privilege not restricted to parties to litigation, and other helpful points regarding privilegeUK listing and prospectus regime reform: potential impact on securities litigationThe end of the road for USD LIBOR?Retained EU Law: no sweeping sunset at the end of the yearBiannual Banking Litigation Update (Spring 2023)Don't forget to subscribe to the banking litigation blog.Speakers: John Corrie (Partner), Ceri Morgan (Professional Support Consultant), Eleanor Dole Sheaf (Senior Associate).
In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Tom Wyer.You can find links to our blogs on the cases covered in this podcast below:High Court considers reliance in s.90A FSMA claims in context of split trial applicationHigh Court allows claim in respect of secret commissions to proceed as “opt-out” representative action under CPR 19.6Hong Kong court provides novel and influential analysis of the Quincecare dutyHigh Court finds UK sanctions do not preclude entry of judgments in favour of Russian sanctioned partiesHigh Court underlines need to consider scope of agency in considering whether documents to which agent has access are in principal’s controlPart 36 offer to settle “the whole of the claim” did not include claims set out in draft amended pleadings Don't forget to subscribe to the banking litigation blog.
In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Harriet Tolkien.You can find links to our blogs on the cases covered in this podcast below:Is the decentralised governance of Bitcoin a myth? Court of Appeal finds real issue to be tried as to whether developers owe fiduciary duties to Bitcoin ownersHigh Court finds lender’s exercise of absolute contractual right is not subject to implied Braganza dutySupreme Court strikes out Quincecare claim where no loss suffered by insolvent Ponzi schemeCourt of Appeal finds disclosure to party’s US lawyers breached embargo on draft judgment, but no further steps takenCourt orders contempt proceedings to be brought in respect of possible breaches of embargo on draft judgmentDon't forget to subscribe to the banking litigation blog. 
In this Christmas Special edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guests Elena Kormosh, Scott Warin, Tom Wyer and Catherine Bagge. You can find links to our blogs on the cases covered in this podcast below: High Court confirms interest rate swaps entered into with Italian municipal authority were valid, lawful and binding on the partiesHigh Court finds that bank's notice of event of default under section 5(a)(i) of the 2002 ISDA Master Agreement is validCourt of Appeal finds party was required to accept non-contractual performance in exercising reasonable endeavours to "overcome" force majeure eventHigh Court considers contractual construction of irrevocable letter of credit incorporating UCP 600Interpreting ICC standardised rules in trade finance disputes: courts take an international perspectiveNo privilege for original version of document simply because comparison to final version would reveal legal adviceCourt of Appeal confirms identity of those instructing lawyers not generally protected by litigation privilege Don't forget to subscribe to the banking litigation blog.
In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Elena Kormosh.You can find links to our blogs on the cases covered in this podcast below:High Court considers application of COBS and Braganza duty to close out of trading accountHigh Court grants bank access to customer documentation relating to receivables in securitisation transactionCourt of Appeal upholds summary judgment for rent accrued during Covid closures of commercial premises, rejecting arguments based on implied terms and “failure of basis”FCA confirms final rules for new Consumer DutyIndemnity costs awarded against party who dismissed complaints about witness statement non-compliance as “nit-picking”Russian sovereign debt defaults: a disputes perspectiveDon't forget to subscribe to the banking litigation blog.Speakers: John Corrie (Partner), Ceri Morgan (Professional Support Consultant), Elena Kormosh (Senior Associate)
The latest edition of our Regulation in Focus podcast series features Jenny Andrews, an Of Counsel in our Employment team and Charles McGrath, a Senior Associate in our contentious FSR practice in London. Jenny and Charles remind listeners about the statutory and regulatory whistleblowing framework in the UK before summarising some interesting recent case law developments and the key issues coming out of them that financial services firms need to be aware of. The discussion is moderated by Cat Dankos, the Regulatory Consultant in our London FSR practice.
In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Catherine Bagge.You can find links to our blogs on the cases covered in this podcast below: High Court finds no unfairness in bank’s restructuring of loan arrangementsHigh Court considers receiving bank’s liability in context of APP fraudHigh Court grants freezing injunction in relation to stolen non-fungible tokens (NFTs)High Court finds identity of those giving instructions to lawyers not protected by litigation privilegeParty penalised in costs for disproportionate application to strike out witness evidence for non-compliance with PD 57ACEnglish court judgment enforced in China for the first time following landmark policy announcementHigh Court considers when recast Brussels Regulation continues to apply in transitional casesDon't forget to subscribe to the banking litigation blog.
In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Tom Wyer.You can find links to our blogs on the cases covered in this podcast below:High Court dismisses Quincecare duty claim giving guidance on the scope and nature of the dutyPrivy Council confirms that Quincecare duty is limited to protecting customers and does not extend to protect third partiesHow to navigate the Autonomy judgment: guidance for corporate issuers defending Section 90A / Schedule 10A FSMA shareholder claimsHigh Court clarifies meaning of “PDMR” in s.90A FSMA claimsFreezing orders brought onto the blockchain and service of proceedings via NFTsHigh Court decision suggests party alleging witness statement fails to comply with PD 57AC must identify specific failuresArticle published – Expansion of jurisdiction gateways coming soonDon't forget to subscribe to the banking litigation blog.Speakers: John Corrie (Partner), Ceri Morgan (Professional Support Consultant), Tom Wyer (Associate) 
In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Wilkie Hollens. You can find links to our blogs on the cases covered in this podcast below:High Court finds developers did not owe duty to cryptoasset owners to enable access to lost cryptoassetsCourt of Appeal finds Quincecare duty is not limited to corporate customers and can (in principle) extend to protecting individualsPrivy Council confirms that the so-called “reflective loss” principle applies to ex-shareholdersHigh Court orders witness statements to be redrafted due to serious non-compliance with PD 57ACHigh Court orders banks to disclose documents under the Evidence (Proceedings in other Jurisdictions) Act 1975Privy Council restatement of the law on freezing and other interim injunctionsUK: EAT orders party to disclose tribunal documents to the Press months after hearingBiannual Banking Litigation Update (Spring 2022) Don't forget to subscribe to the banking litigation blog. Please also find the Herbert Smith Freehills legal privilege web app.
In this episode of our banking litigation podcast, we discuss and debate the key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Phoebe Fox.You can find links to our blogs on the cases covered in this podcast below: Privy Council considers reformulated test for determining scope of duty of care owed by professional advisersHigh Court considers the requirement for “awareness” in implied misrepresentation claimsHigh Court finds that a claimant’s “awareness” of a representation is an essential prerequisite to a claim for misrepresentationHigh Court decision in first s.90A FSMA claim to reach trialHigh Court upholds settlement agreement relating to earlier proceedings to bar counterclaim, confirming that “unknown” claims can be releasedA counterclaiming defendant can make a valid “claimant’s” Part 36 offerHigh Court finds Covid-19 pandemic did not trigger a material adverse change clause in a contract for Premier League broadcasting rightsHigh Court finds Covid-19 pandemic amounted to force majeure event enabling party to terminate contract for rugby broadcasting rights Don't forget to subscribe to the banking litigation blog.
The latest edition of our Regulation in Focus podcast series features two former regulators in conversation about operational resilience – Andrew Procter from Herbert Smith Freehills and Michael Sicsic from Sicsic Advisory. The discussion focuses on implementation of operational resilience requirements for the upcoming UK regulatory deadline of 31 March 2022.In conversation with...Michael is the Managing Director of Sicsic Advisory, a boutique consultancy focusing on financial services risk and regulation. He is a senior executive in the field of risk and regulation and former head of supervision for the UK general insurance retail sector at the FCA.Andrew is a partner in the (contentious) financial services regulatory team in London. He advises multinational clients on their most important strategic regulatory and risk issues, bringing uniquely strategic judgement drawn from senior leadership roles at regulators, in-house and in private practice.
In this special edition of our banking litigation podcast, we consider some key issues on the topic of privilege that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by Ceri Morgan, a Professional Support Consultant in our banking litigation team, and guests Claire Nicholas and Benedicte Perowne.You can find links to our blogs on the cases covered in this podcast below:High Court applies narrow interpretation of “client” for purposes of legal advice privilegeCourt of Appeal decision in ENRC: orthodoxy restored on litigation privilege, but narrow interpretation of “client” remains for nowInformation gathering by in-house lawyer in order to obtain external advice may not be protected by legal advice privilegeImpact of Court of Appeal’s privilege decision in Sports Direct v FRC for the financial services sectorHigh Court holds auditor must form its own view on client’s claim to privilege when responding to its regulator’s notice to produce documents Don't forget to subscribe to the banking litigation blog. Please also find the Herbert Smith Freehills legal privilege web app.
Join Jojo Fan in Hong Kong, Benjamin Rubinstein in New York, Mark Smyth in Sydney and Sousan Gorji in London as they discuss greenwashing in the banking sector.Read more insights in our Global Bank Review here: https://www.herbertsmithfreehills.com/insight/2021-global-bank-review-%E2%80%93-esg-creating-a-purposeful-future
In the CHRISTMAS SPECIAL edition of our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Scott Warin. You can find links to our blog posts on the cases covered in this podcast below: Supreme Court finds claim for compensation under data protection legislation cannot proceed on “opt-out basis” in high profile Lloyd v Google caseHigh Court upholds contractual terms setting out basis of relationship in dismissing breach of duty claim relating to introduction to third party investment schemesHigh Court considers whether onerous term in standard terms incorporated by referenceHigh Court considers implied terms and “failure of basis” in context of COVID-19 pandemicCOVID-19 market disclosures and managing the associated litigation risks Don't forget to subscribe to the banking litigation blog.Speakers: John Corrie (Partner), Ceri Morgan (Professional Support Consultant), Scott Warin (Associate)
In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Harriet Tolkien. You can find links to our blog posts on the cases covered in this podcast below:Supreme Court clarifies requirements for tort of lawful act economic duressCourt of Appeal confirms claims seeking remediation for damage to land allegedly caused by oil spill cannot proceed as representative action under CPR 19.6Banking Litigation Podcast Episode 20: Monthly Update - August 2020Privy Council confirms that the so-called “reflective loss” principle applies to ex-shareholdersHigh Court finds accountants’ investigation report not protected by litigation privilege and considers requirements for obtaining disclosure under the Disclosure PilotThe Herbert Smith Freehills Legal Privilege Web AppDisclosure Pilot to be extended for a further year and the procedures streamlinedThe UK’s LIBOR safe harbour legislation: a missed opportunity?Don't forget to subscribe to the banking litigation blog.
FCA's regulatory decision-making proposals - faster and less costly, but at what price?The latest edition of our Regulation in Focus podcast series features Karen Anderson and Andrew Procter, both partners in our FSR practice and both former regulators, in conversation about the FCA's plans to streamline regulatory decision-making, which - if the FCA proceeds as proposed - will be a significant change to how authorisation, supervision and enforcement are delivered. Karen and Andrew review the arguments which led to the establishment of the Regulatory Decisions Committee to provide independent administrative decision-making. They then outline the FCA's plans for change and discuss whether the regulator has a strong case.Speakers: Karen Anderson (Partner) and Andrew Procter (Partner)
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