The discovery process in civil litigation and the restrictions on disclosure of Section 348 Financial Services and Markets Act 2000

Abstract

Purpose

To report and comment on the case Real Estate Opportunities v. Aberdeen Asset Managers Jersey Ltd & Ors.

Design/methodology/approach

Outlines the facts and explains the decision reached.

Findings

The Court ruled that the rules relating to the attribution of knowledge to a company of the knowledge of its individual employees meant that knowledge acquired by an employee in the course and for the purpose of his employment is properly attributable to the employer.

Originality/value

The decision is significant insofar as it provides some insight into the practical effect of Section 348 beyond the immediate circumstances where it was designed to provide confidentiality protections, namely the conduct of regulatory investigations themselves.

Citation

Gray, J. (2007), "The discovery process in civil litigation and the restrictions on disclosure of Section 348 Financial Services and Markets Act 2000", Journal of Financial Regulation and Compliance, Vol. 15 No. 2, pp. 221-226. https://doi.org/10.1108/13581980710744110