United Kingdom

Subscribe to United Kingdom via RSS

Edwards Angell Palmer & Dodge’s Insurance and Reinsurance Department will host a webinar on the above topic on Monday, September 29, 2008 at 12:00 PM EDT / 5:00 PM BST. …
Read More Edwards Angell Palmer & Dodge Webinar: ‘Mortgage-Backed and Auction-Rate Securities: Structure, Litigation and Insurance Issues’

The Acquisitions Directive
HM Treasury and the FSA have published a joint CP entitled “Implementation of the Acquisitions Directive: a consultation document “.

…
Read More UK: HM Treasury and the Financial Services Authority (FSA) publish a consultation paper (CP) on the Acquisitions Directive

Mr McCreevy noted in a recent speech to the EUROFI Conference in Nice, that discussions on the proposed Solvency II Framework Directive have been progressing at an impressive rate in both the European Council and Parliament. 

…
Read More EU/UK: Commissioner for Internal Markets, Charlie McCreevy, Updates the Market on Solvency II

As reported in our previous blog, the FSA has been focusing on the application of the Unfair Terms in Consumer Contracts Regulations (the Regulations) to consumer insurance policies and recently issued a statement regarding the use of the phrase “consequential loss” in consumer policy wordings (see: UK: FSA Published Statement Regarding Use of the Term “Consequential Loss”). …
Read More UK: FSA Obtains Undertaking from UK Insurance Limited in Relation to its Contracts for Travel Insurance Containing the Phrase “Consequential Loss”

In an effort to aggressively counter the recent market crisis, the United States Securities & Exchange Commission and United Kingdom’s Financial Services Authority announced today that they have temporarily banned all short-selling in financial companies. …
Read More BREAKING NEWS: SEC AND FSA Ban Short-Selling in Financial Companies

Lehman Brothers Holdings Inc., the holding company for the fourth-largest United States investment bank, filed for protection under Chapter 11 of the United States Bankruptcy Code on September 15, 2008, marking the largest US bankruptcy filing in history.  Following the filing in the Southern District of New York, the directors of Lehman Brothers International (Europe) and three of its UK subsidiaries applied for administration (a process similar to Chapter 11) in the UK. 

…
Read More EAPD Issues Advisory Regarding Insolvency Proceedings in the US, UK and Japan

The FSMT has handed down its decision in the case of Asgar Ali Ravjani (trading as Astrad Finance) v Financial Services Authority, which involved the failure to disclose a discharged bankruptcy to the FSA. …
Read More UK: Decision of the Financial Services and Markets Tribunal (FSMT) Emphasises the Importance of Disclosing All Relevant Information to the FSA