Journal of Financial Regulation and Compliance: Volume 5 Issue 3

The social dimensions of financial risk

Atul K. Shah

As money has come to play a central role in modern society the risk of losing money, financial risk, is a major concern for individuals and societies. Yet the understanding and…

Money laundering regulation: A bridge too far?

Sue Thornhill

The 1997 revised version of the UK Money Laundering Guidance Notes for the financial sector are about to be published. They represent the results of a year's consultation and…

The regulation of financial conglomerates

Gareth Adams

This paper considers the obstacles to the regulation of financial conglomerates and the events that have shaped thinking at the regulators, in particular in the banking context…

New developments for non‐US investment advisers doing business in the USA

Marybeth Sorady

For the foreign investment adviser wishing to do business in the USA, the regulatory climate has never been more propitious. This paper describes the recently restructured…

Deregulation: The impact on a compliance officer — PIA interactions

Wyn Thomas

This paper considers, from a compliance officer's viewpoint, the interaction between financial services firms and the PIA. This relationship is looked at in the context of Project…

The deregulation of foreign exchange control in Japan

Hiroaki Shinoda

The Japanese ‘Big Bang’ is expected to cover almost all areas of the country's financial systems. Within the many, differing revolutionary changes, the ‘front runner’ is the…

Closing the loopholes in US regulation S for offshore offers and sales of securities

Dana L. Platt, Mark J. McKeefry

The United States Securities and Exchange Commission adopted Regulation S in 1990 to clarify that offshore offers and sales of securities need not comply with the onerous…

Duties of unit trust trustees

Stephen Lofthouse

The paper outlines the duties of unit trust trustees in principal/agent terms. It then discusses the reactions of a number of trustees to the suggestion that they might be acting…

R v PIA ombudsman & PIA ex parte Burns‐Anderson Independent Network plc

McCowan LJ, Millett LJ, Auld LJ, Joanna Gray

The Applicant in this case, The Burns Anderson Independent Network plc, was authorised to conduct investment business under the Financial Services Act 1986, by virtue of its…

ICIC (Overseas) Ltd v Adham & Others

J Harman, Joanna Gray

The background to this action involved allegations of fraud by the Plaintiff, (some of which had been proved) against the Defendants which had already given rise to protracted…

Armitage v Nurse & Others

Hirst LJ, Millett LJ, Hutchison LJ, Joanna Gray

The Appellant in this case, referred to throughout the Court of Appeal's judgment as ‘Paula’, was the principal beneficiary under a settlement which contained a trustee exemption…