Financial Services Disputes & Regulation

In this edition of our banking litigation podcast, we discuss and debate some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Ariel Wiebe.You can also listen on Apple, Spotify, Buzzsprout and SoundCloud, and find links to our blog posts on the cases covered in this podcast below:Court of Appeal confirms that dishonesty is essential ingredient in half-secret commission claimsHigh Court confirms 5,800 motor finance claimants can use omnibus claim forms and do not need to issue separate claim formsHigh Court confirms no novel "retrieval" duty owed by receiving banks to non-customersHigh Court rules in favour of APP fraud victims in "derivative" action against PSP for breach of so-called Quincecare dutyBanking litigation podcast episode 51: Quincecare special – March 2025High Court finds Letter of Comfort creates binding guarantee and Ralli Bros principle not engaged where foreign illegality arises from failure to seek regulatory permissionAsymmetric jurisdiction clauses: CJEU finds jurisdiction clause in favour of EU courts may be valid despite giving one party greater choiceHedging: where is the dividing line? Biannual Banking Litigation Update (Spring 2024)Don't forget to subscribe to the banking litigation blog.

In this SPECIAL EDITION of our banking litigation podcast, we consider a key risk area for financial institutions handling client payments – the so-called Quincecare duty of care. This episode is hosted by John Corrie, who is joined by Ceri Morgan and special guests Jenny Stainsby and Scott Warin.The English courts continue to grapple with payment processing claims brought by both victims of authorised push payment (APP) fraud and companies subject to an internal fraud by an authorised signatory who has gone rogue.  While the seminal Supreme Court decision in Philipp v Barclays [2023] UKSC 25 recalibrated the payment processing duties owed by banks, court guidance is still needed on what is required to meet the requisite standard on a case-by-case basis, and claimants continue to explore novel causes of action. Alongside numerous civil claims working their way through the courts, the Payment Systems Regulator has introduced the UK's APP fraud reimbursement scheme. In our latest podcast, we explain the current state of payment processing claims in a post-Philipp v Barclays world, offering insights into this rapidly changing area of law.You can find links to our blog posts on the cases covered in this podcast below:Payment processing risks in a post-Philipp v Barclays worldFacing into the UK's APP Fraud Reimbursement RequirementThe Supreme Court's judgment in Philipp v Barclays: key takeaways for financial institutions executing customer paymentsHigh Court dismisses Quincecare duty claim giving guidance on the scope and nature of the dutySupreme Court upholds first successful claim for breach of the so-called "Quincecare" duty of care Court of Appeal judgment on scope and exclusion of 'Quincecare' duty of careLatest APP fraud claim against receiving PSP: High Court refuses to strike out claim for unjust enrichmentHigh Court considers novel APP fraud "retrieval duty" claim against both sending and receiving PSPsPlease subscribe to the podcast channel here to listen to our regular bite-sized broadcasts covering both litigation and regulatory developments for banks and other financial institutions.

In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Sarah Penfold.You can find links to our blogs on the cases covered in this podcast below:High Court finds lenders' exercise of contractual right to demand loan repayment is not subject to implied Braganza dutyCourt of Appeal rejects attempt to bring securities class action using CPR 19.8 representative action as an "opt-in" procedureHigh Court refuses to allow representative action to be brought on behalf of copyright owners in IP caseHigh Court considers whether "success fee" is payable by client to investment bank in respect of capital raiseHigh Court orders commercial parties to mediate shortly before trialCommercial Court declares arbitral tribunal lacks jurisdiction following bank's invocation of asymmetric option clauseMotor Finance: Where are we and where next?Insight Alert: Global FSR Outlook 2025 – Perpetual MotionDon't forget to subscribe to the banking litigation blog. 

In this first episode of the FSR Brief, Jon Ford and Michael Tan discuss the latest developments with the Financial Conduct Authority's (FCA) consultation on transparency in investigations (CP24/2 Part 2). They discuss whether the changes to the FCA's "Public Interest Framework" go far enough to address the significant concerns raised in relation to the FCA's proposal to name firms under regulatory investigation.

In this FESTIVE SPECIAL edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guests Mark Tanner, Harriet Tolkien, Scott Warin, Catherine Bagge, Ariel Wiebe and Nora van Meerwijk.You can find links to our blogs on the cases covered in this podcast below:High Court considers first LIBOR cessation test case: key implications for financial institutionsHigh Court rejects "price/market reliance" for s.90A and Schedule 10A FSMA claimsCourt of Appeal finds lenders liable in motor finance broker commission casesHigh Court highlights four distinct categories of control in "ownership and control" test under UK sanctions regulationsTrial witness statements: High Court decisions highlight importance of compliance with Practice Direction 57ACDutch Court of Appeal upholds appeal on landmark climate litigation case against ShellRepresentative actions under CPR 19.8: Settlement means key questions on funding and damages will have to waitCivil Justice Council publishes Interim Report and Consultation on Litigation FundingClass Actions radar: Scanning global trends and risks2024 Global Bank Review - Adaptation: Change is the only constantThe potential impact of the new UK Listing Rules on securities litigationDon't forget to subscribe to the banking litigation blog. 

In this special edition dispute resolution podcast, we take a practical look at what the UK government's recent ratification of the Hague 2019 Judgments Convention means for in-house counsel choosing between litigation and arbitration for an English law governed contract.The episode draws together the hosts of three of our HSF podcasts – Vanessa Naish and Liz Kantor (arbitration), Maura McIntosh (commercial litigation) and Ceri Morgan (banking litigation) – to discuss the benefits Hague 2019 will bring to the enforcement of English judgments, how that compares to the enforcement position for arbitration awards, and the various factors that need to be weighed in the balance when choosing dispute resolution options.Commercial litigation podcast series – Episode 25: Special edition on the Hague Judgments Convention 2019The Hague 2019 Judgments Convention: Bolstering the UK's position as a jurisdiction of choice for international dispute resolution

In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Scott Warin.You can find links to our blogs on the cases covered in this podcast below: Court of Appeal considers whether default interest clause is an unenforceable penalty Court of Appeal dismisses claim by participant against lender of record in a sub-participation arrangementHigh Court finds agent breached fiduciary duty in "half secret" commission case High Court grants injunctions in favour of bank in context of syndicated loan dispute over payments withheld due to sanctions High Court finds party has practical control over documents of sub-contractor and sub-sub-contractor for disclosure purposes  The Hague 2019 Judgments Convention: Bolstering the UK's position as a jurisdiction of choice for international dispute resolutionBanking litigation podcast episode 47: Sanctions special – July 2024Don't forget to subscribe to the banking litigation blog. 

In this edition of our banking litigation podcast, we have a special episode on the impact of sanctions on banks and financial institutions. We explore the current sanctions regime, Russian counter-sanctions measures as well as sanctions related litigation in the English courts. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guests Charlotte Benton, Alexander Gridasov, and Ali Grodzki.You can find links to our blogs on the cases covered in this podcast below: Court of Appeal confirms judgments can be entered in favour of Russian sanctioned parties but leaves uncertainty in relation to the "ownership and control" testHigh Court dismisses force majeure and trade sanctions defences in breach of contract claim, and considers "ownership and control" test under UK sanctionsHigh Court grants injunctions in favour of bank in context of syndicated loan dispute over payments withheld due to sanctionsSupreme Court finds no obligation on party seeking to rely on force majeure clause to accept counterparty's offer of non-contractual performanceCourt of Appeal finds payment obligations under letters of credit suspended by UK Russian sanctions regime Don't forget to subscribe to the banking litigation blog. 

In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Charlotte Benton.You can find links to our blogs on the cases covered in this podcast below:Court of Appeal finds payment obligations under letters of credit suspended by UK Russian sanctions regimeSupreme Court upholds anti-suit injunction against Russian courtSupreme Court finds no obligation on party seeking to rely on force majeure clause to accept counterparty's offer of non-contractual performanceHigh Court strikes out APP fraud claims against receiving payment service providerLatest APP fraud claim against receiving PSP: High Court refuses to strike out claim for unjust enrichmentHigh Court refuses summary judgment where bank account frozen without noticeDon't forget to subscribe to the banking litigation blog.

In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Mark Tanner.You can find links to our blogs on the cases covered in this podcast below:High Court considers bank's vicarious liability for fraudulent misrepresentations made by former employeeHigh Court refuses Swiss bank's jurisdiction challenge over declarations of enforceability of standby letters of creditHigh Court considers interpretation of English exclusive jurisdiction clause in trade finance documentationHigh Court considers novel app fraud “retrieval duty” claim against both sending and receiving PSPSLitigation funding: bill introduced to reverse effect of Paccar and civil justice council invited to review the sectorProposed new rule would radically expand public access to court documentsImplications of sanctions against Russia on banking disputes in the UK Biannual banking litigation update (Spring 2024)Don't forget to subscribe to the banking litigation blog.Speakers: John Corrie (Partner), Ceri Morgan (Professional Support Consultant), Mark Tanner (Of Counsel)

In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Nora van Meerwijk.You can find links to our blogs on the cases covered in this podcast below:Court of Appeal overturns High Court's high-profile Italian swaps decisionHigh Court confirms debtor must prove illegality where payment withheld as a result of sanctionsHigh Court dismisses force majeure and trade sanctions defences in breach of contract claim, and considers “ownership and control” test under UK sanctionsCourt of Appeal allows secret commissions claim to proceed as representative action on “opt out” basisCPR 19.8 representative action: “bifurcated process” adopted in claim by bank against representative defendantHigh Court strikes out novel bid to bring securities class action using CPR 19.8 representative action as “opt-in” procedureSupreme Court confirms key elements of claim in knowing receipt in failed claim against bankDon't forget to subscribe to the banking litigation blog.

In this FESTIVE SPECIAL edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guests Mark Tanner, Charlotte Benton, Scott Warin, Tom Wyer, Catherine Bagge and Janelle Chang.You can find links to our blogs on the cases covered in this podcast below:High Court refuses interim payment application in Russian sanctions-related litigationHigh Court finds that lender suffered no loss despite negligent valuation of securityPrivy Council considers Norwich Pharmacal and Bankers Trust disclosure orders against banksCompany not ordered to disclose privileged documents to shareholders in context of late application in securities class actionTrilogy of decisions shows English courts' approach to granting anti-suit injunctions in support of foreign-seated arbitrationsHigh Court confirms that conscious "awareness" of a representation is an essential (and distinct) element to a claim for misrepresentationDon't forget to subscribe to the banking litigation blog.

In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Charlotte Benton. You can find links to our blogs on the cases covered in this podcast below:High Court finds defendant bank did not dishonestly assist company restructure to put assets beyond reach of creditorsCourt of Appeal confirms judgments can be entered in favour of Russian sanctioned parties but leaves uncertainty in relation to the “ownership and control” testSanctions tracker – new UK guidance following Mints decision on ownership and controlCorrespondence about possibility of ADR was not “without prejudice” despite being marked as suchSupreme Court clarifies when a stay of court proceedings will be granted in favour of arbitration under s.9 Arbitration Act 1996High Court rules on common law enforceability of foreign judgment in E&WRegime of fixed recoverable costs now in force for claims up to £100,000Don't forget to subscribe to the banking litigation blog.

In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Scott Warin. You can find links to our blogs on the cases covered in this podcast below: The Supreme Court's judgment in Philipp v Barclays: key takeaways for financial institutions executing customer paymentsHigh Court confirms refusal of permission for ClientEarth derivative action against Shell directorsHigh Court refuses permission to continue derivative claim against bank as an alleged shadow directorSupreme Court decision today means most existing UK litigation funding agreements likely to be unenforceableUK government confirms plans for compulsory mediation in the County Court and decides against statutory regulation of the mediation sectorEnglish Commercial Court takes rare decision to refuse enforcement of arbitration award on public policy grounds in crypto case Don't forget to subscribe to the banking litigation blog.

In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Eleanor Dole Sheaf.You can find links to our blogs on the cases covered in this podcast below:High Court considers impact of Russian sanctions regimes in UK, EU and US on payment obligations under standby letter of creditHigh Court dismisses claim to recover US investment bank's success fee in connection with the public offer of shares in Indian bankHigh Court refuses permission for climate-change activist shareholder to bring derivative action on behalf of Shell plc against its directorsLitigation privilege not restricted to parties to litigation, and other helpful points regarding privilegeUK listing and prospectus regime reform: potential impact on securities litigationThe end of the road for USD LIBOR?Retained EU Law: no sweeping sunset at the end of the yearBiannual Banking Litigation Update (Spring 2023)Don't forget to subscribe to the banking litigation blog.Speakers: John Corrie (Partner), Ceri Morgan (Professional Support Consultant), Eleanor Dole Sheaf (Senior Associate).

In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Tom Wyer.You can find links to our blogs on the cases covered in this podcast below:High Court considers reliance in s.90A FSMA claims in context of split trial applicationHigh Court allows claim in respect of secret commissions to proceed as “opt-out” representative action under CPR 19.6Hong Kong court provides novel and influential analysis of the Quincecare dutyHigh Court finds UK sanctions do not preclude entry of judgments in favour of Russian sanctioned partiesHigh Court underlines need to consider scope of agency in considering whether documents to which agent has access are in principal's controlPart 36 offer to settle “the whole of the claim” did not include claims set out in draft amended pleadings Don't forget to subscribe to the banking litigation blog.

In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Harriet Tolkien.You can find links to our blogs on the cases covered in this podcast below:Is the decentralised governance of Bitcoin a myth? Court of Appeal finds real issue to be tried as to whether developers owe fiduciary duties to Bitcoin ownersHigh Court finds lender's exercise of absolute contractual right is not subject to implied Braganza dutySupreme Court strikes out Quincecare claim where no loss suffered by insolvent Ponzi schemeCourt of Appeal finds disclosure to party's US lawyers breached embargo on draft judgment, but no further steps takenCourt orders contempt proceedings to be brought in respect of possible breaches of embargo on draft judgmentDon't forget to subscribe to the banking litigation blog. 

In this Christmas Special edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guests Elena Kormosh, Scott Warin, Tom Wyer and Catherine Bagge. You can find links to our blogs on the cases covered in this podcast below: High Court confirms interest rate swaps entered into with Italian municipal authority were valid, lawful and binding on the partiesHigh Court finds that bank's notice of event of default under section 5(a)(i) of the 2002 ISDA Master Agreement is validCourt of Appeal finds party was required to accept non-contractual performance in exercising reasonable endeavours to "overcome" force majeure eventHigh Court considers contractual construction of irrevocable letter of credit incorporating UCP 600Interpreting ICC standardised rules in trade finance disputes: courts take an international perspectiveNo privilege for original version of document simply because comparison to final version would reveal legal adviceCourt of Appeal confirms identity of those instructing lawyers not generally protected by litigation privilege Don't forget to subscribe to the banking litigation blog.

In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Elena Kormosh.You can find links to our blogs on the cases covered in this podcast below:High Court considers application of COBS and Braganza duty to close out of trading accountHigh Court grants bank access to customer documentation relating to receivables in securitisation transactionCourt of Appeal upholds summary judgment for rent accrued during Covid closures of commercial premises, rejecting arguments based on implied terms and “failure of basis”FCA confirms final rules for new Consumer DutyIndemnity costs awarded against party who dismissed complaints about witness statement non-compliance as “nit-picking”Russian sovereign debt defaults: a disputes perspectiveDon't forget to subscribe to the banking litigation blog.Speakers: John Corrie (Partner), Ceri Morgan (Professional Support Consultant), Elena Kormosh (Senior Associate)

The latest edition of our Regulation in Focus podcast series features Jenny Andrews, an Of Counsel in our Employment team and Charles McGrath, a Senior Associate in our contentious FSR practice in London. Jenny and Charles remind listeners about the statutory and regulatory whistleblowing framework in the UK before summarising some interesting recent case law developments and the key issues coming out of them that financial services firms need to be aware of. The discussion is moderated by Cat Dankos, the Regulatory Consultant in our London FSR practice.

In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Catherine Bagge.You can find links to our blogs on the cases covered in this podcast below: High Court finds no unfairness in bank's restructuring of loan arrangementsHigh Court considers receiving bank's liability in context of APP fraudHigh Court grants freezing injunction in relation to stolen non-fungible tokens (NFTs)High Court finds identity of those giving instructions to lawyers not protected by litigation privilegeParty penalised in costs for disproportionate application to strike out witness evidence for non-compliance with PD 57ACEnglish court judgment enforced in China for the first time following landmark policy announcementHigh Court considers when recast Brussels Regulation continues to apply in transitional casesDon't forget to subscribe to the banking litigation blog.

In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Tom Wyer.You can find links to our blogs on the cases covered in this podcast below:High Court dismisses Quincecare duty claim giving guidance on the scope and nature of the dutyPrivy Council confirms that Quincecare duty is limited to protecting customers and does not extend to protect third partiesHow to navigate the Autonomy judgment: guidance for corporate issuers defending Section 90A / Schedule 10A FSMA shareholder claimsHigh Court clarifies meaning of “PDMR” in s.90A FSMA claimsFreezing orders brought onto the blockchain and service of proceedings via NFTsHigh Court decision suggests party alleging witness statement fails to comply with PD 57AC must identify specific failuresArticle published – Expansion of jurisdiction gateways coming soonDon't forget to subscribe to the banking litigation blog.Speakers: John Corrie (Partner), Ceri Morgan (Professional Support Consultant), Tom Wyer (Associate) 

In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Wilkie Hollens. You can find links to our blogs on the cases covered in this podcast below:High Court finds developers did not owe duty to cryptoasset owners to enable access to lost cryptoassetsCourt of Appeal finds Quincecare duty is not limited to corporate customers and can (in principle) extend to protecting individualsPrivy Council confirms that the so-called “reflective loss” principle applies to ex-shareholdersHigh Court orders witness statements to be redrafted due to serious non-compliance with PD 57ACHigh Court orders banks to disclose documents under the Evidence (Proceedings in other Jurisdictions) Act 1975Privy Council restatement of the law on freezing and other interim injunctionsUK: EAT orders party to disclose tribunal documents to the Press months after hearingBiannual Banking Litigation Update (Spring 2022) Don't forget to subscribe to the banking litigation blog. Please also find the Herbert Smith Freehills legal privilege web app.

In this episode of our banking litigation podcast, we discuss and debate the key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Phoebe Fox.You can find links to our blogs on the cases covered in this podcast below: Privy Council considers reformulated test for determining scope of duty of care owed by professional advisersHigh Court considers the requirement for “awareness” in implied misrepresentation claimsHigh Court finds that a claimant's “awareness” of a representation is an essential prerequisite to a claim for misrepresentationHigh Court decision in first s.90A FSMA claim to reach trialHigh Court upholds settlement agreement relating to earlier proceedings to bar counterclaim, confirming that “unknown” claims can be releasedA counterclaiming defendant can make a valid “claimant's” Part 36 offerHigh Court finds Covid-19 pandemic did not trigger a material adverse change clause in a contract for Premier League broadcasting rightsHigh Court finds Covid-19 pandemic amounted to force majeure event enabling party to terminate contract for rugby broadcasting rights Don't forget to subscribe to the banking litigation blog.

The latest edition of our Regulation in Focus podcast series features two former regulators in conversation about operational resilience – Andrew Procter from Herbert Smith Freehills and Michael Sicsic from Sicsic Advisory. The discussion focuses on implementation of operational resilience requirements for the upcoming UK regulatory deadline of 31 March 2022.In conversation with...Michael is the Managing Director of Sicsic Advisory, a boutique consultancy focusing on financial services risk and regulation. He is a senior executive in the field of risk and regulation and former head of supervision for the UK general insurance retail sector at the FCA.Andrew is a partner in the (contentious) financial services regulatory team in London. He advises multinational clients on their most important strategic regulatory and risk issues, bringing uniquely strategic judgement drawn from senior leadership roles at regulators, in-house and in private practice.

In this special edition of our banking litigation podcast, we consider some key issues on the topic of privilege that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by Ceri Morgan, a Professional Support Consultant in our banking litigation team, and guests Claire Nicholas and Benedicte Perowne.You can find links to our blogs on the cases covered in this podcast below:High Court applies narrow interpretation of “client” for purposes of legal advice privilegeCourt of Appeal decision in ENRC: orthodoxy restored on litigation privilege, but narrow interpretation of “client” remains for nowInformation gathering by in-house lawyer in order to obtain external advice may not be protected by legal advice privilegeImpact of Court of Appeal's privilege decision in Sports Direct v FRC for the financial services sectorHigh Court holds auditor must form its own view on client's claim to privilege when responding to its regulator's notice to produce documents Don't forget to subscribe to the banking litigation blog. Please also find the Herbert Smith Freehills legal privilege web app.

Join Jojo Fan in Hong Kong, Benjamin Rubinstein in New York, Mark Smyth in Sydney and Sousan Gorji in London as they discuss greenwashing in the banking sector.Read more insights in our Global Bank Review here: https://www.herbertsmithfreehills.com/insight/2021-global-bank-review-%E2%80%93-esg-creating-a-purposeful-future

In the CHRISTMAS SPECIAL edition of our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Scott Warin. You can find links to our blog posts on the cases covered in this podcast below: Supreme Court finds claim for compensation under data protection legislation cannot proceed on “opt-out basis” in high profile Lloyd v Google caseHigh Court upholds contractual terms setting out basis of relationship in dismissing breach of duty claim relating to introduction to third party investment schemesHigh Court considers whether onerous term in standard terms incorporated by referenceHigh Court considers implied terms and “failure of basis” in context of COVID-19 pandemicCOVID-19 market disclosures and managing the associated litigation risks Don't forget to subscribe to the banking litigation blog.Speakers: John Corrie (Partner), Ceri Morgan (Professional Support Consultant), Scott Warin (Associate)

In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Harriet Tolkien. You can find links to our blog posts on the cases covered in this podcast below:Supreme Court clarifies requirements for tort of lawful act economic duressCourt of Appeal confirms claims seeking remediation for damage to land allegedly caused by oil spill cannot proceed as representative action under CPR 19.6Banking Litigation Podcast Episode 20: Monthly Update - August 2020Privy Council confirms that the so-called “reflective loss” principle applies to ex-shareholdersHigh Court finds accountants' investigation report not protected by litigation privilege and considers requirements for obtaining disclosure under the Disclosure PilotThe Herbert Smith Freehills Legal Privilege Web AppDisclosure Pilot to be extended for a further year and the procedures streamlinedThe UK's LIBOR safe harbour legislation: a missed opportunity?Don't forget to subscribe to the banking litigation blog.

FCA's regulatory decision-making proposals - faster and less costly, but at what price?The latest edition of our Regulation in Focus podcast series features Karen Anderson and Andrew Procter, both partners in our FSR practice and both former regulators, in conversation about the FCA's plans to streamline regulatory decision-making, which - if the FCA proceeds as proposed - will be a significant change to how authorisation, supervision and enforcement are delivered. Karen and Andrew review the arguments which led to the establishment of the Regulatory Decisions Committee to provide independent administrative decision-making. They then outline the FCA's plans for change and discuss whether the regulator has a strong case.Speakers: Karen Anderson (Partner) and Andrew Procter (Partner)

In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Amel Fenghour. You can find links to our blog posts on the cases covered in this podcast below: Supreme Court clarifies proper approach to SAAMCO and to determining scope of duty of care owed by professional advisersCourt of Appeal provides guidance on the “reflective loss” principle and its interaction with the Contracts (Rights of Third Parties) Act 1999Court of Appeal clarifies proper approach to assessing damages for fraudulent misrepresentationEuropean Commission notice to Lugano Depositary states EU not in a position to consent to UK accessionHMT reform of prospectus regime: the potential impact on securities litigation Don't forget to subscribe to the banking litigation blog.

In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Annabel Davis. You can find links to our blog posts on the cases covered in this podcast below:Court of Appeal confirms that the Quincecare duty does not extend to protect creditors Banking Litigation Podcast Episode 25: Special Edition– The Quincecare Duty of CareHigh Court considers Quincecare and dishonest assistance claims against bank in context of Ponzi schemeHigh Court strikes out time-barred claims holding that banks did not deliberately conceal facts so as to extend the limitation period High Court considers doctrine of frustration in Covid context and confirms there is no such thing as “temporary frustration”Parent companies' documents found to be in subsidiaries' control for disclosure purposesHigh Court considers scope of jurisdiction and meaning of records under Bankers' Book Evidence Act 1879Duty of Care – countdown to the much anticipated FCA consultation Don't forget to subscribe to the banking litigation blog.

In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Mannat Sabhikhi. You can find links to our blog posts on the cases covered in this podcast below:High Court determines that reliance issues in context of a s.90A FSMA claim should be heard at first trialHigh Court strikes out s.90A FSMA claims for failure to comply with pre-service joinder rules following expiration of arguable limitation periodSupreme Court allows appeal in jurisdictional challenge relating to parent company duty of careHigh Court considers principles relating to cut-off dates and the costs of advertising in group litigationHigh Court finds that a claimant’s “awareness” of a representation is an essential prerequisite to a claim for misrepresentation Don't forget to subscribe to the banking litigation blog. 

The latest edition of our Regulation in Focus podcast series features Clive Cunningham and Andrew Procter, both partners in our FSR practice, in conversation about the milestone publication of the UK regulators’ final policies on operational resilience.The discussion ranges from the challenges for senior managers to the nuances of setting impact tolerances in dual regulated firms to the wider global context.Speakers: Clive Cunningham, Partner and Andrew Procter, Partner

In this special edition of our banking litigation podcast, we consider a key risk area for financial institutions handling client payments - the Quincecare duty of care. This episode is hosted by Ceri Morgan, a professional support consultant in our banking litigation team, who is joined by Mark Tanner and Scott Warin. Quincecare duty claims typically arise where a bank or deposit holding financial institution has received a payment mandate from an authorised signatory of its customer, and executed the order, in circumstances where (allegedly) there were red flags to suggest that the order was an attempt to misappropriate the funds of the customer. The past few years have witnessed an uptick in such claims, with a proliferation of judgments being handed down in quick succession since the Supreme Court’s decision in Singularis Holdings Ltd v Daiwa Capital Markets Europe Ltd [2019] UKSC 50. In our podcast, we discuss how these judgments have defined both the scope of the duty, and the potential tools in the armoury of banks to defend these claims.  You can find links to our blog posts on the cases covered in this podcast below:Court of Appeal judgment on scope and exclusion of “Quincecare” duty of careSupreme Court upholds first successful claim for breach of the so-called “Quincecare” duty of careHigh Court refuses to strike out Quincecare duty claim against a PSP where its customer was hijacked by fraudstersHigh Court provides further insights on the risks of Quincecare claims against banksHigh Court confirms current scope of Quincecare duty is limited to protecting corporate customers and does not extend to individualsHong Kong court refuses to expand scope of Quincecare dutyDon't forget to subscribe to the banking litigation blog. 

This podcast is a deep dive into an issue that impacts you, and all FCA regulated firms – treating vulnerable customers fairly. It features Karen Anderson, Cat Dankos and Ben Goodman from our contentious financial services regulatory practice in London, discussing the FCA’s aim of ensuring that vulnerable consumers experience outcomes as good as other consumers and receive consistently fair treatment across all FCA-regulated firms and sectors.Speakers: Karen Anderson (Partner), Cat Dankos (Regulatory Consultant) and Ben Goodman (Of Counsel)

In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Harriet Tolkien. You can find links to our blog posts on the cases covered in this podcast below:High Court considers First Tower judgment in the context of no-advice clauses and confirms UCTA does not applyHigh Court confirms current scope of Quincecare duty is limited to protecting corporate customers and does not extend to individualsHigh Court provides further insights on the risks of Quincecare claims against banksSupreme Court judgment in the KBR v SFO appeal – limits to extraterritorial impact of the SFO’s document compulsion powersCourt of Appeal clarifies that cross-undertakings should rarely be required as a condition of security for costsWitness evidence reforms: final versions now published and will apply from 6 AprilBrexit: key practical implications for disputes and dispute resolution clauses Don't forget to subscribe to the banking litigation blog.

In the CHRISTMAS SPECIAL edition of our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions, combined with some festive cheer and a few surprises. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan, Mark Tanner and some very special guests. You can find links to our blog posts on the cases covered in this podcast below:High Court tests newly narrowed scope of the “reflective loss” rule in first decision since the Supreme Court’s judgment in MarexCommercial Court considers impact of force majeure clause on repayment obligation in sale of goods contractHigh Court finds no breach of duty by bank in exercise of enforcement rights under finance agreementsHigh Court strikes out group claims in light of parallel claims overseas: good news for parent company liability claims?Class action reform in France: Necessary, but debatableCapital Raisings and Opportunistic M&A in a Covid-19 Environment—Lessons Learned from the Global Financial CrisisBeyond Brexit: Countdown to 1 January 2021 – new video briefings and podcasts available, including on jurisdiction and enforcement of judgmentsHow far can UK courts depart from EU case law? Don't forget to subscribe to the banking litigation blog.Speakers: John Corrie (Partner), Ceri Morgan (Professional Support Consultant), Mark Tanner (Senior Associate)

In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Georgia Nickson. You can find links to our blog posts on the cases covered in this podcast below:Court of Appeal upholds High Court’s decision on the preferred contractual construction of a term in an exclusion clauseCommercial Court grants declaratory relief to bank relating to its rights under the 1992 ISDA Master AgreementHigh Court strikes out two IRHP mis-selling claims on the grounds of abuse of process, limitation and underdeveloped allegations of fraudHigh Court refuses to strike out Quincecare duty claim against a PSP where its customer was hijacked by fraudstersBanking Litigation Podcast Episode 13: Monthly Update - November 2019 (in which we covered Singularis Holdings Ltd v Daiwa Capital Markets [2019] UKSC 50)High Court considers Quincecare and dishonest assistance claims against bank in context of Ponzi schemeHigh Court finds no need to enquire into qualifications of foreign lawyer in applying English law privilegeDon't forget to subscribe to the banking litigation blogSpeakers: John Corrie (Partner), Ceri Morgan (Professional Support Consultant), Georgia Nickson (Associate)

In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Scott Warin. You can find links to our blog posts on the cases covered in this podcast below:Court of Appeal upholds High Court decision to grant summary judgment in FX de-pegging caseHigh Court says bank need not comply with numerous and repetitive DSARs which were being used for a collateral purposeThe Tesco Litigation: lessons learned from split trial orders in the context of securities class actionsHigh Court strikes out claimants’ representative action due to failure to meet “same interest” requirement under CPR 19.6Judgment handed down in FCA’s COVID-19 business interruption insurance test caseSingapore Convention on Mediated Settlement Agreements comes into force tomorrow, 12 September 2020Webinar Available: Dispute Resolution Choices for Banks and Financial Institutions – Maximising the Chances of Successful Enforcement Don't forget to subscribe to the banking litigation blog.Speakers: John Corrie (Partner), Ceri Morgan (Professional Support Consultant), Scott Warin (Associate)

In our Corporate Crime & Investigations podcast we look to bring you timely and incisive commentary on key developments in the CC&I space.In this third episode we discuss recent activity regarding Deferred Prosecution Agreements (DPAs). We focus specifically on three DPAs secured by the Serious Fraud Office (SFO) involving Guralp Systems, Airbus and G4S Care and Justice Services. Speakers:  Kate Meakin, Partner and Stephen Thomson, Senior Associate (Australia and New Zealand)Further information:-CC&I Podcast Episode 1 on DPAs, including the DPA between the SFO and a company from the Serco Group -Our blog post on the Guralp Systems DPA -Our blog post on the Airbus DPA-Our blog post on the G4S DPA-Our webinar on DPAs, anti-bribery and corruption from UK, US, French and South African perspectives

In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Ajay Malhotra.You can find links to our blog posts on the cases covered in this podcast below:Untangling, but not killing off, the Japanese knotweed: Supreme Court confirms existence and scope of “reflective loss” ruleHigh Court requires claimant investors to disclose their investment history to show their level of sophistication and appetite for riskHigh Court finds no duty of care owed for late execution of orders due to unforeseen market turbulenceDefault judgment set aside where claim served at closed offices during COVID-19 lockdownPart 36 offer to accept 0.3% less than total amount claimed constituted genuine offer to settle Don't forget to subscribe to the banking litigation blogSpeakers: John Corrie (Partner), Ceri Morgan (Professional Support Consultant), Ajay Malhotra (Senior Associate)

In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Catherine Bagge.You can find links to our blog posts on the cases covered in this podcast below:High Court takes robust approach to personal guarantees: potential impact for accredited lenders under the Coronavirus Business Interruption Loan SchemesCourt of Appeal confirms borrower’s right to withhold payment under English law Tier 2 Capital facility agreement where risk of US secondary sanctionsPrivilege in the context of regulatory investigations: latest guidance from the High CourtHigh Court takes expansive view of when reference to legal advice may result in broader waiverUntangling, but not killing off, the Japanese knotweed: Supreme Court confirms existence and scope of “reflective loss” ruleUK Government announces LIBOR legislative fix: summary of proposals and our initial observationsDon't forget to subscribe to the banking litigation blog

In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Alice Whyte.You can find links to our blog posts on the cases covered in this podcast below:High Court rejects indemnity claim under SPA due to a failure to notify the claim “as soon as possible”High Court finds claim for lost profits arising from damage caused by London riots not prevented by force majeure or exclusion for indirect or consequential lossLitigation funder fails in attempt to obtain trading data from the London Stock ExchangeProposed insolvency reforms: impact on secured and unsecured bank debtDon't forget to subscribe to the banking litigation blog

In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Nic Patmore.You can find links to our blog posts on the cases covered in this podcast below:Court of Appeal upholds High Court contractual construction of CLO transactionHigh Court finds in favour of novel duty of care on employers (or quasi-employers) to protect against economic loss by providing an "ethically safe" work environmentHigh Court declines to adjourn five-week trial due to COVID-19 pressuresHigh Court refuses to set aside or vary disclosure order despite risk of foreign criminal or regulatory sanctionsCompeting class actions in the Competition Appeal Tribunal: no preliminary ruling on carriage issueDon't forget to subscribe to the banking litigation blog

In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Mannat Sabhikhi.You can find links to our blog posts on the cases covered in this podcast below: High Court finds no implied contractual duties in connection with past business reviewMorrisons wins Supreme Court appeal against finding of vicarious liability in data breach class actionCourt of Appeal confirms funders’ adverse costs liability not limited to amount of funding provided: Arkin “cap” not a binding rule Class actions against financial institutions: impact of High Court decision to order security for costs against a litigation funderImpact of Court of Appeal’s privilege decision in Sports Direct v FRC for the financial services sectorCOVID-19 Hub

In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Daniel May.You can find links to our blog posts on the cases covered in this podcast below:High Court grants proprietary injunction against Bitcoin exchange holding proceeds of ransomware attackHigh Court upholds financial institution restructuring unit’s exercise of its powers under facility agreement following borrower default, finding there was no “relational contract” and rejecting claims for intimidation and economic duressHigh Court strikes out claim against banks in their capacity as lenders to investors of a tax deferral schemeJoint Operating agreement arguably a "relational contract" but Commercial Court declines to imply duty of good faith or Braganza dutyCourt of Appeal finds legal advice privilege is subject to a “dominant purpose” testDon't forget to subscribe to the banking litigation blog

In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Harriet Tolkien.You can find links to our blog posts on the cases covered in this podcast below:High Court upholds strike out of claim based on allegation a financial institution breached fiduciary duties as a shadow director of its customerHigh Court finds privilege not lost despite document being referred to in open courtHigh Court orders claimants to provide disclosure to prove investment decisions were made in reliance on defective publications in the Tesco section 90A FSMA group litigationCourt of Appeal confirms Part 36 offer cannot be made exclusive of interestDon't forget to subscribe to the banking litigation blog.

The third episode of Regulation in Focus, our podcast series of short, sharp insights into regulatory issues that matter to you, features Katherine Dillon and Emma Reid from our non-contentious financial services regulatory practice in London, discussing the role that equivalence might play in accessing EU markets post-Brexit.Katherine and Emma are experts in regulatory matters across a wide range of sectors, and have regularly been advising on Brexit-related implications for financial services firms.

The second episode of Regulation in Focus, our podcast series of short, sharp insights into regulatory issues that matter to you, features London partners Hywel Jenkins and Christine Young discussing our top 5 tips for dealing with employee misconduct investigations in a regulated context.

In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Emma Deas.You can find links to our blog posts on the cases covered in this podcast below:The Lloyds/HBOS litigation: The first shareholder class action judgment in England & WalesFirst securities class action judgment in AustraliaHigh Court refuses Tesco’s strike out application in s.90A FSMA group shareholder actionSupreme Court upholds first successful claim for breach of the so-called “Quincecare” duty of careThe Financial Services Duty of Care BillDon't forget to subscribe to the banking litigation blog.