Journal of Financial Regulation and Compliance: Volume 3 Issue 2

WHAT IS COMPLIANCE? THE MORAL DIMENSION

MICHAEL CLARKE

In a recent paper Adams begins by noting that the French term for compliance, déontologie, is explicitly moral in character, being the logic of obligation and permissibility, but…

FORMALISM OR ANTI‐FORMALISM: REGULATION AND THE BANK OF ENGLAND

IAN ROBINSON, ROGER HUSSEY

The supervisory authority of the Bank of England derives from tradition and statute. The interplay of these two factors can be analysed by applying a formalist/anti‐formalist…

INTERNAL COMPLIANCE VETTING

JOHN HAMP

The purpose of this paper is to suggest to Personal Investment Authority (PIA) members, and particularly to independent members of PIA, that their successful application to join…

THE PRACTICAL COMPLIANCE OFFICER: TECHNICALITY VERSUS COMMERCIALITY

GORDON MCMURRAY

The purpose of this paper is to stimulate the thought processes of staff employed within compliance functions, and to act as a reminder that the technicalities of operating within…

FINANCIAL SERVICES: DRAFTING PRIVATE CLIENT AGREEMENTS

JOANNA GRAY

Investment businesses and their advisers, have gone through the trauma of the new settlement in financial services regulation and emerged into a brave new dawn of what is…

THE CAPITAL ADEQUACY REGULATION OF US BROKER‐DEALERS: A COMPARATIVE ANALYSIS — PART 2

RICHARD DALE

As financial markets across the world become more integrated, the potential for financial shocks to be transmitted both from one jurisdiction to another and from one financial…

BISHOPSGATE INVESTMENT MANAGEMENT LTD (IN LIQUIDATION) V HOMAN AND OTHERS

DILLON, LEGGATT, HENRY LJJ, Joanna Gray

This case concerned an attempt by the liquidators of Bishopsgate Investment Management Ltd (BIM) the trustee of assets belonging to pension schemes for employees of Maxwell…

MORGAN GRENFELL & CO LTD V WELWYN HATFIELD DISTRICT COUNCIL (ISLINGTON LONDON BOROUGH COUNCIL, THIRD PARTY)

J HOBHOUSE

Morgan Grenfell & Co Ltd (Morgan Grenfell) entered into a ten‐year interest rate swap contract with Welwyn Hatfield District Council (Welwyn) on the basis that Morgan Grenfell…

GRANT ADAMS V THE QUEEN

LORD TEMPLEMAN, LORD JAUNCEY OF TULICHETTLE, LORD BROWNE‐WILKINSON, LORD WOOLF, LORD LLOYD OF BERWICK, Joanna Gray

This appeal to the Judicial Committee of the Privy Council (JCPC), which is still the highest court of appeal for certain Commonwealth jurisdictions, concerned conduct associated…

LITIGATION UPDATE

‘WHO REGULATES THE REGULATORS?’ This is a question well worth posing, and one answer to it is: the High Court in the exercise of its supervisory jurisdiction of judicial review…