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Shah v HSBC: High Court clarifies bank's duties to customers when making SARs

United Kingdom - May 22 2012 The High Court has clarified the extent to which banks are required to disclose information to their customers about whom they have made money laundering disclosures or have obligations to such customers which could expose them to liability in the event that the banks' money laundering disclosures causes loss to those customers....

Graham More, Daniel Hudson, Susannah Cogman, Nichola Peters.

Cassa di Risparmio della Repubblica di San Marino S.p.A. v Barclays Bank Ltd: when is a AAA rating more than a AAA rating?

United Kingdom - March 31 2011 The recent High Court judgment in Cassa di Risparmio della Repubblica di San Marino S.p.A. v Barclays Bank Ltd 2011 EWHC 484 (Comm) will be welcomed by financial institutions who were involved in structuring and selling complex financial products such as collateralised debt obligations (CDOs) prior to the financial crisis...

Simon Clarke, Eleanor Lamberton, Damien Byrne-Hill, Harry Edwards.

The new financial services regulatory architecture: influencing the landscape

United Kingdom - March 22 2011 The Government's proposals to reform the UK financial services architecture are well underway, following publication of HM Treasury's consultation paper on 17 February 2011....

Jenny Stainsby, Martyn Hopper, Karen Anderson, Patrick Buckingham.

Bank unable to recover loss from negligent solicitors Haugesund Kommune and Anor v Depfa ACS Bank (Wikborg Rein as third party) No 2 2011 EWCA Civ 33

United Kingdom - February 8 2011 BackgroundIn 2004 and 2005, Depfa Bank entered into swap contracts with two Norwegian Municipalities (the "Kommunes") whereby in effect the Kommunes borrowed substantial sums of money from Depfa....

David Reston, Simon Clarke, Eleanor Lamberton.

Springwell a source of relief for financial institutions

United Kingdom - November 4 2010 The Court of Appeal's decision earlier this week in Springwell v JP Morgan Chase Bank and ors 2010 EWCA Civ 1221 is the latest in a series of English judgments which have seen sophisticated investors struggle to make good damages claims against financial institutions in relation to poorly performing investments....

Simon Clarke.