Journal of Financial Regulation and Compliance: Volume 3 Issue 3

THE BARINGS CRISIS: SOME LESSONS FOR THE MANAGEMENT OF TRADING RISKS IN FINANCIAL INTERMEDIARIES

MICHAEL TAYLOR

The collapse of Barings Bank in February this year provided a stark illustration of the need for adequate systems and controls in managing trading risks. This paper reviews the…

COMPLIANCE AND INTERNAL AUDIT

PETER MILROY MA FCA

At first sight there are many similarities between the roles of the compliance officer and the internal auditor. However, there are also some important differences in their…

PRICE SENSITIVE INFORMATION AND SELF‐REGULATION BY UK COMPANIES AND FINANCIAL INSTITUTIONS — PART I

JOHN HOLLAND

This paper, which is published in two parts, is concerned with ‘behind the scenes’ self‐regulation by companies and financial institutions (FIs) relative to the ‘Dissemination of…

PENSION TRANSFERS: MANAGING COMPLIANCE

JOHN CUNLIFFE, STEVE MINGLE

This paper discusses two aspects of compliance management in pension transfers. The first addresses the claims that may be brought before a court by investors to whom personal…

UNDERSTANDING THE IMPACT OF THE INVESTMENT SERVICES AND CAPITAL ADEQUACY DIRECTIVES

BERYL MUSTILL

The Investment Services and Capital Adequacy Directives must be implemented no later than 31 December 1995. The Personal Investment Authority (PIA), a self‐regulating organisation…

ANALYSING THE NEW POWERS GIVEN TO BUILDING SOCIETIES

STEVE CROWTHER

The purpose of this paper is to look at what is currently being considered and debated in the building society industry. It focuses more on proposed changes rather than on actual…

KAUFMANN AND OTHERS V CREDIT LYONNAIS BANK

MRS JUSTICE ARDEN, Joanna Gray

Credit Lyonnais (the Defendant), who at all material times were authorised to conduct investment business by virtue of their membership of the Securities Association (its…

NEW ZEALAND GUARDIAN TRUST CO LTD V KENNETH STEWART BROOKS AND OTHERS

LORD Keith of KINKEL, LORD OLIVER OF AYLMERTON, LORD MUSTILL, LORD LLOYD OF BERWICK, LORD NICHOLLS OF BIRKENHEAD

Budget Rent A Car Ltd (Budget) borrowed money from a consortium of financiers and bankers. The advance was secured by a debenture trust deed dated 5th May, 1987, entered into…

MELTON MEDES LTD AND ANOTHER V SECURITIES AND INVESTMENTS BOARD

J LIGHTMAN, Joanna Gray

The second Plaintiff, Melton Medes Pension Trustees Ltd had in 1986 loaned some £5m from pension funds under its administration to the first Plaintiff, Melton Medes Ltd. It was in…

PERSONAL INVESTMENT AUTHORITY: RULE CHANGE UPDATE

In March 1995 the PIA issued Rule Notice 9 which makes certain amendments to both the PIA Rules and Adopted FIMBRA, LAUTRO, IMRO and SIB Rules, with effect from 10th April, 1995.