FinBrief – Global finance updates
DLA Piper's global hub for updates and discussion on the legal issues important to finance and markets and their regulation

Tag: High Court

Barclays using FSMA Part VII for Brexit

Wednesday’s report that Barclays is to use a Part VII FSMA transfer to shift its deposit taking, derivatives (ISDA, GMRA, etc) and corporate and investment banking business with EU27 parties to Barclays Bank Ireland will not be a workable precedent for many, because FSMA section 106(1)(a) requires part of the business being transferred to include […]

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Pre-contractual misrepresentation – no escaping reasonableness

Section 3 Misrepresentation Act 1967 provides that a non-consumer contract term seeking to exclude or restrict liability for pre-contractual misrepresentation must be reasonable as per section 11(1) Unfair Contract Terms Act 1977 (consumers have their own protections via the Consumer Rights Act 2015).  Various recent decisions have turned on the distinction between exclusion clauses (which […]

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High Court made Restitution Orders in an FCA action against unregulated collective investment schemes

On 25 March 2018, the High Court ordered Capital Alternatives Ltd and 13 other connected defendants to pay a total of £16.9 million in restitution for their respective roles in unlawfully establishing, arranging, operating and promoting to the public by false, misleading and deceptive statements four unregulated collective investment schemes (CISs), in breach of various […]

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