July 2012 Archive

Accountants sued for negligence for failure to advise of a change in the law

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The recent case of Integral Memory PLC v Haines Watts [2012 EWHC 342 (Ch) demonstrates why professionals need to advise their clients of changes in the law or legislation if they have promised to do so. More …

The FSA finally takes action on interest rate swap arrangements

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Many years ago I prepared a complaint by a business to the Financial Ombudsman Service (FOS) – which deals with complaints against FSA authorised firms. The complaint arose out of the bank's requirement for the business to enter into an interest rate swap arrangement (IRSA) in support of a loan facility the bank was offering. More …