Dillon LJ, Leggatt LJ and Kennedy LJ
Westdeutsche Landesbank Girozentrale (hereinafter referred to as ‘the Bank’) entered into a ten‐year interest rate swap agreement with Islington London Borough Council…
Abstract
Westdeutsche Landesbank Girozentrale (hereinafter referred to as ‘the Bank’) entered into a ten‐year interest rate swap agreement with Islington London Borough Council (hereinafter referred to as ‘the Council’).
Money laundering is established as a criminal offence and, to date, the prosecution of money laundering has been the responsibility of the Criminal Prosecution Service (CPS) and…
Abstract
Money laundering is established as a criminal offence and, to date, the prosecution of money laundering has been the responsibility of the Criminal Prosecution Service (CPS) and the Serious Fraud Office (SFO). However, the Financial Services and Markets Bill will provide the Financial Services Authority (FSA) with the power to bring a prosecution for offences under the Money Laundering Regulations. This may result in some confusion as to who should prosecute, particularly as it is established that all three bodies cannot prosecute the same crime since this would allow the defendant to claim double jeopardy. It should be noted that the FSA has stated that it will only prosecute for failing to maintain adequate controls against money laundering and that prosecutions for money laundering itself will be left to the criminal prosecution authorities. Despite this limitation there will still be an overlap between offences that the CPS, SFO and FSA may prosecute. The situation is further clouded, as the FSA will also be able to undertake a disciplinary action. A disciplinary action for money laundering has not been specifically mentioned in the Financial Services and Markets Bill. However, the FSA is most likely to introduce an and money‐laundering statement of principle, particularly as the reduction of financial crime is one of the objectives of the FSA. If a regulated person or institution is found to breach this, they will be subject to a penalty imposed under disciplinary proceedings. In addition, a blanket provision of ‘misconduct’ would also trigger the imposition of a penalty. Therefore, the possibility arises of a criminal prosecution by the FSA for failing to maintain adequate controls against money laundering, a prosecution by the CPS or SFO for money laundering itself and for failure to maintain adequate controls as well as an FSA disciplinary action.
Significant problems arise where an investigating authority searches premises for relevant material and the holder of the material asserts a claim of legal privilege over some, if…
Abstract
Significant problems arise where an investigating authority searches premises for relevant material and the holder of the material asserts a claim of legal privilege over some, if not all, of the documents concerned. Invariably the holder's claim is rejected by the investigating authority, either on the ground that legal privilege does not attach to the category of material in question, or if it does attach, the privilege falls away because the material was brought into existence to further a fraudulent purpose. How are disputes between the investigating authority and the holder of the material to be resolved? How is the true status of the material to be determined?
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In this essay it is proposed first to draw the important distinction which exists in practice between the collective and procedure agreements and explain briefly the respective…
Abstract
In this essay it is proposed first to draw the important distinction which exists in practice between the collective and procedure agreements and explain briefly the respective functions of each of these. An examination will then follow of the current legal status of the collective agreement in Great Britain where a discussion and analysis of various aspects of legal non‐enforceability will take place.
The announcement in the press on May 15 1996 that the daughter of a mother who died of Creutzfeldt Jacobs disease is launching legal action against the UK Government for failing…
Abstract
The announcement in the press on May 15 1996 that the daughter of a mother who died of Creutzfeldt Jacobs disease is launching legal action against the UK Government for failing in its duty of care to inform the public about the dangers of eating beef is a timely reminder of the horrendous commercial and legal consequences which can follow if an unsafe product gets onto the consumer market. The ‘mad cow’ disease crisis in the UK and the alleged link between BSE in cows and CJD in humans is likely to have a devastating impact on the medium and long term future of the British beef industry and raises serious issues about the failure to take appropriate steps at the right time to prevent such a crisis occurring. The purpose of this article is to examine the legal regime for preventing unsafe products reaching the marketplace in the first place. It will focus on non‐food products, though many of the provisions discussed also apply to food.
This paper, which in part includes historical analysis, examines the following questions: (a) Whose duty is it to guard against fraud, misappropriation and defalcation perpetrated…
Abstract
This paper, which in part includes historical analysis, examines the following questions: (a) Whose duty is it to guard against fraud, misappropriation and defalcation perpetrated by the employees? (b) To what extent are auditors and directors directly responsible for such detection and prevention? The issue will be analysed and explored from cases originating from the UK and Australia.
In the context of a recent judicial review case, the Court of Appeal has delivered, on the one hand, a powerful weapon for people with disabilities who need social services, but…
Abstract
In the context of a recent judicial review case, the Court of Appeal has delivered, on the one hand, a powerful weapon for people with disabilities who need social services, but, on the other, managerial implications which are bound to be keeping budget holders awake at night. The final outcome of the case — due for hearing before the Lords at some point in the next year — may well have wider implications for changes to social services legislation generally. The significance of this case for local authorities, practitioners and users of community care services is analysed and commented upon in this article. Further, the interplay between the concept of statutory discretion and the emergent legal doctrine of substantive legitimate expectation is considered, and its significance for social services attitudes and practice is articulated.
Arezoo Gazori-Nishabori, Kaveh Khalili-Damghani and Ashkan Hafezalkotob
A Nash bargaining game data envelopment analysis (NBG-DEA) model is proposed to measure the efficiency of dynamic multi-period network structures. This paper aims to propose…
Abstract
Purpose
A Nash bargaining game data envelopment analysis (NBG-DEA) model is proposed to measure the efficiency of dynamic multi-period network structures. This paper aims to propose NBG-DEA model to measure the performance of decision-making units with complicated network structures.
Design/methodology/approach
As the proposed NBG-DEA model is a non-linear mathematical programming, finding its global optimum solution is hard. Therefore, meta-heuristic algorithms are used to solve non-linear optimization problems. Fortunately, the NBG-DEA model optimizes the well-formed problem, so that it can be solved by different non-linear methods including meta-heuristic algorithms. Hence, a meta-heuristic algorithm, called particle swarm optimization (PSO) is proposed to solve the NBG-DEA model in this paper. The case study is Industrial Management Institute (IMI), which is a leading organization in providing consulting management, publication and educational services in Iran. The sub-processes of IMI are considered as players where their pay-off is defined as the efficiency of sub-processes. The network structure of IMI is studied during multiple periods.
Findings
The proposed NBG-DEA model is applied to measure the efficiency scores in the IMI case study. The solution found by the PSO algorithm, which is implemented in MATLAB software, is compared with that generated by a classic non-linear method called gradient descent implemented in LINGO software.
Originality/value
The experiments proved that suitable and feasible solutions could be found by solving the NBG-DEA model and shows that PSO algorithm solves this model in reasonable central process unit time.