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United Kingdom - November 5 2012
The Basel capital adequacy rules seem to be encouraging the greater use of more capital efficient products, such as trade finance.
United Kingdom - November 5 2012
Facility letters often contain a clause stating that the facility is to be used for a specific purpose or project, in order to avoid a claim by the borrower or any guarantor that the lender has consented to any misuse of loan funds or has a duty to ensure the money is properly applied.
United Kingdom - July 27 2012
The long running litigation involving HSBC and Mr and Mrs Shah has culminated in a recent decision (Shah and another v HSBC Private Bank (UK) Ltd [2012]).
United Kingdom - March 27 2012
On 5 March 2012, it was reported that the British Bankers' Association (BBA) is to review the rate setting process for LIBOR.
United Kingdom - March 27 2012
A recent appeal in the Supreme Court was concerned with the meaning and application of the “client money rules” and “client money distribution rules” contained in Ch 7 of the Client Assets Sourcebook (“CASS 7”) issued by the Financial Services Authority for the safeguarding and distribution of client money in implementation of the Markets in Financial Instruments Directive 2004/39/EC (“MiFID”).
