Dentons - Financial Markets Disputes and Regulatory Update

Judgments - so far this year…

June 17, 2015

It was a busy six months in the courts for issuers of notes: the most interesting cases involved the liability of issuers to purchasers of notes in the secondary market; two cases considered issues of jurisdiction; and another considered liability under the Misrepresentation Act 1967. Taken together, they leave a rather uncertain picture in relation to this area, and the success of a misrepresentation claim suggests that issuers should be particularly alive to the possibility of future claims for misrepresentation.

Regulatory developments

June 17, 2015

In the regulatory sphere, issues relating to the introduction of the Senior Managers regime have been dominant but the first quarter of 2015 also saw the publication of various other statements by the FCA and the PRA, including in respect of retail investment advice and remuneration. A number of final notices were also issued.

What to watch out for...

June 17, 2015

This section looks forward to the second half of 2015 and includes an outline of the upcoming court decisions on key financial markets cases. Imminent regulatory developments are also considered, including the FCA and the PRA's full final rules and guidance on the new Senior Managers regime, ramifications from the Fair and Effective Markets Review report and implications arising from the FCA's business plan, amongst others.