Investigations and Enforcement: Financial Services

This practice note provides an introduction to the substantive law relating to judicial review.

In this practice note, Aaron Stephens and Daren Allen, partners in Berwin Leighton Paisner LLP's Financial Services Investigations and Enforcement practice, consider the implications of the Bribery Act 2010 for banks and other financial institutions (including insurance firms, asset management firms, hedge funds and private equity houses), and the practical steps firms should take to comply with the new regime. The Act came into force on 1 July 2011. For a general overview of the Act, see Practice note, Bribery Act 2010, and for information on the background to the Act, see Practice note, Bribery: law reform.

In this practice note, Aaron Stephens, a partner, and Rachel Aikens, a senior associate, in Berwin Leighton Paisner LLP's Financial Services Investigations and Enforcements practice, provide a brief guide to the practical issues that lawyers should bear in mind when advising clients in relation to dawn raids carried out by the FCA or PRA. The note outlines the key steps to be taken from the moment a lawyer becomes aware that a client's premises have just been raided by the FCA or the PRA, throughout the raid itself and, finally, once the raid has ended. The note has also been designed so that it can be read as a refresher in the taxi on the way to a client’s premises that have just been raided. 

In this practice note Jane Tuckley, a partner in Travers Smith LLP's Financial Services and Markets department, and Nigel Barratt, Director of Research in the same department, outline the complaints handling procedures of the Financial Ombudsman Service (FOS). For an overview of the FOS' statutory framework, constitutional issues and funding, see Practice note, Financial Ombudsman Service: statutory framework, constitution and funding. For a description of the three jurisdictions comprising the FOS scheme, see Practice note, Financial Ombudsman Service: jurisdiction. This practice note is part of a series of practice notes written by Travers Smith LLP outlining the FSA's disciplinary and enforcement powers. For more information, see Practice note, FSA enforcement regime: overview. This practice note, and the other FOS practice notes referred to above, are in the process of being updated by the authors to reflect the new UK regulatory structure that came into effect on 1 April 2013.

In this practice note Jane Tuckley, a partner in Travers Smith LLP's Financial Services and Markets department, and Nigel Barratt, Director of Research in the same department, outline the jurisdiction of the Financial Ombudsman Service (FOS). For information on the FOS' statutory framework, constitutional issues and funding, see Practice note, Financial Ombudsman Service: statutory framework, constitution and funding. For an overview of the FOS' complaint handling procedures, see Practice note, Financial Ombudsman Service: complaint handling procedures. This practice note is part of a series of practice notes written by Travers Smith LLP outlining the FCA's disciplinary and enforcement powers. For more information, see Practice note, FCA enforcement regime: overview. This practice note, and the other FOS practice notes referred to above, are in the process of being updated by the authors to reflect the new UK regulatory structure that came into effect on 1 April 2013.

This tracker resources document contains links to every issue of ombudsman news, the regular newsletter published by the Financial Ombudsman Service (FOS), together with related PLC Financial Services Legal updates, where these are available. A summary of the key content of each issue of ombudsman news is also provided. The information is presented in reverse chronological order, for ease of reference. This tracker is not intended to be an exhaustive list of all material relevant to the FOS. For the full range of content on the FOS available to PLC Financial Services subscribers, see Practice note, A guide to PLC Financial Services' materials on the Financial Ombudsman Service.

This practice note summarises the key conclusions and recommendations made by the Rt Hon Lord Hunt of Wirral MBE (Lord Hunt), following his six-month review of the Financial Ombudsman Service (FOS). The findings of the review were contained in a report entitled "Opening up, reaching out and aiming high: An agenda for accessibility and excellence in the Financial Ombudsman Service", published on 9 April 2008. This note also outlines how the FOS reacted to the review, and the steps it has taken to implement a number of Lord Hunt's recommendations.

This note explains what the Court of Justice of the European Union (formerly known as the European Court of Justice (ECJ)) is, why a reference would be made to it and who can make a reference. The note gives examples of questions which might be referred to the ECJ and sets out a brief summary of the procedure to be followed and the effect of a ruling by the ECJ on the question referred.