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Market abuse update - August 2015
  • Herbert Smith Freehills LLP
  • United Kingdom, USA
  • August 19 2015

The second quarter of 2015 saw continued regulatory focus on market and benchmark misconduct: the FCA and the US regulators imposed a series of


Market abuse update April 2015
  • Herbert Smith Freehills LLP
  • Australia, European Union, United Kingdom, USA
  • April 16 2015

2014 was marked by record fines for benchmarkmManipulation globally, criminal prosecutions for insider trading and market manipulation, and the first


Market abuse update
  • Herbert Smith Freehills LLP
  • Australia, European Union, France, Hong Kong, United Kingdom, USA
  • December 15 2014

The FCA has continued to build on the strong track record of civil and criminal enforcement action against abusive conduct and manipulation, notably


Shah v HSBC: what duties do banks owe their customers when making SARs?
  • Herbert Smith Freehills LLP
  • United Kingdom
  • April 24 2009

Earlier this year, the High Court considered a claim by a customer against his bank in relation to its failure to process transactions whilst requests for consent under the Proceeds of Crime Act 2002 (POCA) were pending with the Serious Organised Crime Agency (SOCA


The decision in Cadogan Petroleum Plc and Ors v Mark Tolly and Ors
  • Herbert Smith Freehills LLP
  • United Kingdom
  • November 17 2011

Following Sinclair v Versailles it is possible to maintain a proprietary claim only to assets which came into the fiduciary’s hands as a result of a transaction about which the principal makes no complaint


UK: a record sentence for the SFO?
  • Herbert Smith Freehills LLP
  • United Kingdom
  • August 10 2015

On 3 August, the UK’s Serious Fraud Office (SFO) secured a conviction on eight counts of conspiracy to defraud against a former trader. He was


Principal's right to recover a bribe paid to a fiduciary proprietary or personal?
  • Herbert Smith Freehills LLP
  • United Kingdom
  • May 23 2011

The Privy Council decision of Attorney-General for Hong Kong v Reid 1994 1 AC 324 has generally been taken to hold that a principal has a proprietary right to a bribe paid to a fiduciary


Tackling insider dealing, and achieving credible deterrence: FSA fines IT technician
  • Herbert Smith Freehills LLP
  • United Kingdom
  • July 7 2008

The FSA has fined John Shevlin, an IT technician, £85,000 for trading a contract for difference (CFD) referenced to the share price of the Body Shop International plc (the Body Shop) on the basis of inside information


The FCA's financial crime priorities
  • Herbert Smith Freehills LLP
  • United Kingdom
  • August 16 2013

The Financial Conduct Authority ("FCA") recently published two documents which provide additional information about its current supervisory and


SOCA v David Gale, Teresa Mandy Gale David Kenneth Gale, June Patricia Peel Queen's Bench Division 2009 EWHC 1015 (QB)
  • Herbert Smith Freehills LLP
  • United Kingdom
  • September 3 2009

The Serious Organised Crime Agency has brought civil recovery proceedings under Part 5 of the Proceeds of Crime Act 2005 in relation to recoverable property owned by David Gale either in his own name or in the names of his former wife, his son and his mother