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FSA bans firms

Dentons
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United Kingdom
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January 16 2009

FSA has banned several firms and individuals: one firm and its owner because the owner had not paid an FOS award leaving the firm with no competent and prudent management; two for not filing their RMARs; one for having inadequate resources; and one individual for various failings, including fraud convictions

Immunity powers proposed for the FSA

Katten Muchin Rosenman LLP
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United Kingdom
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January 16 2009

On January 14, the UK government announced proposals that would give the UK Financial Services Authority (FSA) new statutory powers

Causation battle

Mills & Reeve LLP
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United Kingdom
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December 31 2008

XL Insurance has defeated a claim against its policyholder Johnston Precast Ltd by proving that it was not responsible for a burst water main in Holland Park in 2004 (J Murphy & Sons Limited v Johnston Precast Limited

FSA publishes COBS review findings

Dentons
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United Kingdom
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January 9 2009

FSA has carried out a post-implementation review of COBS

Employers’ liability policy trigger litigation

Mills & Reeve LLP
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United Kingdom
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December 31 2008

These six consolidated actions (Durham v BAI (Run Off) Ltd and other cases) concerned the trigger under various employers' liability (EL) policies

PRA consults on fees

Dentons
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United Kingdom
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April 12 2013

PRA's consultation on fees, like FCA's, confirms that some firms will still pay the minimum amount. It sets out the PRA fee-blocks and the amounts it

Marine insurance contract formation

Reed Smith LLP
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United Kingdom
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December 31 2008

In Allianz Insurance Co - Egypt v Aigaion Insurance Co SA Lawtel 19.12.08 the Appellant marine reinsurance company appealed against a decision that it was liable to the Respondent reinsured for its share of the loss suffered following a casualty in a fleet of insured tugs