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  • Posts Tagged ‘Hedging’

    Treasury Committee reports on Conduct in SME lending (FCA IRHP Mis-selling Review, TBLs, Hidden Swaps and GRG)  

    Posted on March 10th, 2015 by Jenny Julian

    The House of Commons Treasury Committee has today (10 March) published its report on Conduct and competition in SME lending. This report covers bank mis-sold interest rate derivatives, regulation of loans embedded with swaps (hidden swaps such as TBLs), criticisms […]

    Interest Rate Hedging Product (IRHP) Review: Confidential agreement between FCA and major banks published

    Posted on February 12th, 2015 by Sivakumaran Sivathillainathan

    The Financial Conduct Authority’s confidential agreement with several major banks, which set up the Interest Rate Hedging Product (IRHP) Review, was published today. The Treasury Select Committee has also expressed concerns that the terms of the IRHP Review has allowed major […]

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    FCA IRHP Review – KPMG whistleblower: RBS fought to reduce size of interest rate swap redress

    Posted on December 4th, 2014 by Jenny Julian

    The Times’ City Editor, Harry Wilson, one of the journalists that three years ago broke the news of interest rate derivatives mis-selling by the major banks, reports today (based on the first hand account of a KPMG whistleblower) on flaws in […]

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    Swaps Mis-selling: Judgment in Crestsign Ltd v NatWest & RBS

    Posted on September 26th, 2014 by Jenny Julian

    Neutral Citation Number: [2014] EWHC 3043 (Ch) Case No: HC13B02029 IN THE HIGH COURT OF JUSTICE CHANCERY DIVISION Rolls Building, Royal Courts of Justice 7 Rolls Buildings, Fetter Lane London, EC4A 1NL Date: 26/09/2014 Before : MR TIM KERR QC (sitting […]

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    Fixed Rate Tailored Business Loan Mis-selling: Clydesdale & Yorkshire Bank’s Internal TBL Review

    Posted on September 25th, 2014 by Sivakumaran Sivathillainathan

    Following hundreds of complaints, lobbying and several adverse adjudications by the Financial Ombudsman Service and recent pressure from the Treasury Select Committee on SME Lending, National Australia Bank Group’s Clydesdale and Yorkshire Banks have now begun an (unannounced) internal complaint-led review […]

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    HMRC Advice for the tax treatment of Interest Rate Hedging Products (IRHP Review) redress payments

    Posted on July 28th, 2014 by Jenny Julian

    HMRC have recently provided banks that are party to the FCA IRHP Review scheme with generic tax advice leaflets to pass to customers who receive redress. HMRC says it wants to help you ensure that you correctly account for this […]

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    Barclays’ attempt to strike-out swaps mis-selling claim (on limitation defence) dismissed by High Court

    Posted on May 23rd, 2014 by Sivakumaran Sivathillainathan

    The High Court (Queen’s Bench Division) has recently dismissed an attempt by Barclays Bank to strike-out an interest rate hedging product (IRHP) mis-selling claim for being issued more than six years after the IRHP was sold to the customer. The […]

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    Barclays’ appeal in ‘LIBOR test case’ dismissed by Court of Appeal

    Posted on November 8th, 2013 by Jenny Julian

    The Court of Appeal has today dismissed Barclays’ appeal in the case of Barclays Bank v Graiseley, which has been referred to as the ‘LIBOR test case’. The case of Deutsche Bank v Unitech was also decided in the favour […]

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    BBC Panorama exposes costly bank ‘swap’ scandal

    Posted on October 14th, 2013 by Jenny Julian

    LEXLAW have recently advised and given expert comment to BBC Panorama in order expose, on behalf of our SME clients, the banks who mis-sold. The programme will expose that customers were mis-sold complex loan insurance products and could be fined […]

    The Times: Lloyds swap case settlement revealed

    Posted on October 14th, 2013 by Jenny Julian

    Katherine Griffiths, of The Times newspaper, reports on our Financial Services Litigation team’s recent success in a swaps mis-selling litigation case where a speculative financial instrument, namely a multi-cancelable swap, was sold to an SME by Lloyds bank. The bank refused to compensate their […]

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