This paper is based on a talk given by Philip Ryley and John Virgo to the Association of Pension Lawyers at their annual conference in Bournemouth in November 1998. In it the…
Abstract
This paper is based on a talk given by Philip Ryley and John Virgo to the Association of Pension Lawyers at their annual conference in Bournemouth in November 1998. In it the authors provide an outline of some of the key legal issues that have arisen out of the pensions mis‐selling litigation.
In this brief paper the authors consider the duties owed by professional indemnity insurance brokers to their insured clients. Given the prevalence of claims for financial…
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In this brief paper the authors consider the duties owed by professional indemnity insurance brokers to their insured clients. Given the prevalence of claims for financial mis‐selling this is an important issue of concern to all authorised advisers. Any failure to obtain or maintain cover leading to uninsured loss will naturally attract the potential attention of the broker’s own insurers. The authors summarise what the law expects of brokers in standard situations.
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Section 1(1) of the Financial Services and Markets Act (the Act) provides: ‘the body corporate known as the Financial Services Authority (“the Authority” [the FSA]) is to have the…
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Section 1(1) of the Financial Services and Markets Act (the Act) provides: ‘the body corporate known as the Financial Services Authority (“the Authority” [the FSA]) is to have the functions conferred on it by or under this Act’.
This paper is confined to an overview on the disciplinary and appeal procedures contained in the Financial Services and Markets Act 2000. The paper will not deal with market…
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This paper is confined to an overview on the disciplinary and appeal procedures contained in the Financial Services and Markets Act 2000. The paper will not deal with market abuse, civil remedies, intervention or criminal prosecutions. It will, however, deal with discipline procedure and the appeal process. It is important to remember, when reading this paper, that the financial services industry still awaits the publication of the draft Enforcement, draft Supervision and draft Authorisation Manuals. The current expected publication date is August 2000. In addition, it is necesssary to distinguish between disciplinary measures affecting individuals and measures affecting businesses. This paper adopts the definitions in the Act and so the use of ‘authorised person’ refers to a business entity, and the use of ‘approved person’ refers to an individual. [Editor's note: A few days after this paper was written the draft Enforcement manual was published. The manual can be viewed at www.fsa.gov.uk.]
‘Fitness and propriety’ is a key qualifying condition of authorisation under the Financial Services and Markets Bill. Blandly stated, it is probably uncontroversial as a condition…
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‘Fitness and propriety’ is a key qualifying condition of authorisation under the Financial Services and Markets Bill. Blandly stated, it is probably uncontroversial as a condition of authorisation. How, in practice, fitness and propriety should be demonstrated to, inquired into and verified by the Financial Services Authority raise more difficult issues. This paper looks at the way in which these practical issues have been addressed by the courts and other regulatory regimes in the past. While past experience does not form a model for future guidance on these topics, it is a useful starting point from which to consider the draft Bill's approach to such matters. Since this paper was written, the Financial Services and Marketing Bill has been amended. The current version can be viewed at: www.parliament.the‐stationery‐office.co.uk
The Financial Services and Markets Act 2000 (the Act) establishes extensive investigative powers and disciplinary powers that may be exercised by the Financial Services Authority…
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The Financial Services and Markets Act 2000 (the Act) establishes extensive investigative powers and disciplinary powers that may be exercised by the Financial Services Authority (FSA) in certain circumstances. The Act further empowers the FSA to take disciplinary action against approved persons, as well as authorised firms. This paper examines the circumstances in which senior managers may find themselves personally culpable for regulatory breaches and become the subject of disciplinary proceedings.
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Short-term military simulations of scenarios or conditions that U.S. military personnel might meet are generally the largest, in terms of cost and personnel, of all operational…
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Short-term military simulations of scenarios or conditions that U.S. military personnel might meet are generally the largest, in terms of cost and personnel, of all operational training events. That at least six such exercises were scheduled for September 11, 2001 raises serious questions about whether or not the events of 9/11 were at least partially orchestrated by U.S. command.
In light of the aforementioned military exercises and the fact that the 9/11 Commission's Final Report barely mentions them, neither were they significantly discussed nor investigated during the hearings, this essay briefly explores four key questions that will hopefully stimulate further inquiries, investigations and perhaps subpoenas that will ultimately break the silence and force declassification of the information surrounding the war games.1.Has there been a high-level suppression of information about the military drills?2.Might the military drills have been a significant factor in the success of the attacks?3.Who was in charge of the military drills and what motives may have been operating for this person?4.In what way might Zacarias Moussaoui, the only person charged in the United States for the attacks, be a link that connects to the person in charge of the games to another tragedy that may have been “an inside job” – i.e. Senator Paul Wellstone's death, and how might Moussaoui connect all of this to the Pentagon?
For segmentation purposes, demographic variables are cheap and easyto measure, while psychographic variables are harder to measure, but canprovide a more accurate insight into…
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For segmentation purposes, demographic variables are cheap and easy to measure, while psychographic variables are harder to measure, but can provide a more accurate insight into consumer psychology. The use of astrology, potentially, allows us to combine the measurement of demographics, with the psychological insights of psychographics. Suggests that a prima facie case exists for the suitability of astrology as a segmentation variable since it creates segments which are measurable, substantial, accessible, exhaustive, relatively stable over time, likely to respond differently towards different marketing programmes and have clear boundaries. Although it would be unrealistic to claim that astrology can be universally applied to all markets in all industries, it may have some use when applied to certain populations or sub‐groups within certain lifestyle and personality‐related markets.