Banking and finance law

Friday afternoon fraud on property transactions

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Fraudsters target property transactions being processed by accessing email accounts and diverting money to their bank account. The ruse is dubbed “Friday afternoon fraud” as criminals typically target transactions being processed before the weekend. Find out how you can protect yourself from this scam. More …

An Islamic Brexit?

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Article 50 has been triggered. So we are now on a countdown to leaving the EU. But what is Brexit likely to mean for those engaged in Islamic Finance here in the UK? More …

Natwest automated loan approval

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NatWest announced plans to launch a new automated lending process that aims to provide credit-approved decisions in as little as 45 minutes. But what does this mean for the future of banking? More …

Is the (Stevens) force with you?

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Whatever the final details are, the suggestion that there may be some whole health economy rather than single provider financial budgeting next year is truly radical and much needed. More …

ECOBATE 2014

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Kath Shimmin, head of our Banking and Finance group will be a panellist at ECOBATE 2014 on 8th October. More …

The FCA's Interim Permission Regime has been launched this week

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Following the launch of the FCA's Interim Permission Regime those holding consumer credit licences will now be able to apply for Interim Permission with the Financial Conduct Authority. More …

FSA and Treasury consultation on regulation of consumer credit

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The FSA and the Government have published their consultations on the future regulatory framework for consumer credit under the Financial Conduct Authority (FCA). More …

The interest rate swap scandal - An update

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Interest rate swap scandal

In July last year I wrote an article on the mis-selling of interest rate hedging products. I was pleased that the FSA was finally taking action on what I considered to be a long standing mis-selling issue with small businesses being pressurised, often at the last minute, to purchase these products with no explanation or understanding of the risks involved. More …

Delayed consultation on the transfer of Consumer Credit Regulation to the Financial Conduct Authority (FCA)

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The publication of a consultation paper on the new regulatory regime for Consumer Credit was due to be released in January. 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 …