Since the Financial Services Act, the regulation of collective investment schemes has evolved. But now, with the merger of regulators, Morgan Grenfell, OEICs and a new UCITS Directive the industry seems to be on the verge of experiencing a quantum leap in the rate of change. This paper explores...

This paper examines the swathe of voluntary self‐regulation which affects the day‐to‐day operation of banks' and building societies' retail businesses, especially in the light of the new Council of Mortgage Lenders (CML) Mortgage Code and the third edition of The Banking Code, and examines...

The complexity of regulations governing ‘investment advertisements’ is described and their contribution to investor protection discussed.

For the sponsor or manager of a non‐US investment fund, the mantle of US laws and regulations surrounding the offering of fund shares to US investors can be mystifying. In an effort to simplify and clarify the legal miasma, the US Congress and Securities and Exchange Commission (SEC) have in...

This paper considers some safeguard measures protecting the investment in mortgage bonds against credit risk. The outset of the discussion is the 200‐year old Danish system of mortgage credit where investor protection primarily has been achieved by ensuring the quality of the mortgage credit...

Insurance has been seen as a distinct function and discipline. Over the last few years, market changes have lessened the distinctiveness of insurance. This is being reflected in the government's proposals for a new single regulator for financial institutions, the Financial Services Authority....

These two appeals arose out of the 1991 collapse of BCCI and were brought by two former employees of BCCI in London who had both lost their jobs as a result of the collapse. Mr Malik had worked for BCCI for 12 years, his last position being head of deposit accounts and customer services at...

In September 1996 the Securities and Futures Authority (SFA), the self‐regulatory organisation with responsibility under the Financial Services Act 1986 for much of the brokerage and dealing sectors of the financial markets, published a provocative and somewhat controversial consultation...

On 28th October, the SIB changed its name to the Financial Services Authority (FSA). The FSA will exercise all the functions which the SIB had under the Financial Services Act 1986 and continues to be the designated agency under the Act. The name change of itself does not alter the supervision...

This case arose from the 1995 collapse of the Barings Banking Group caused by the enormous losses resulting from Nick Lee‐son's unauthorised derivatives trading in Singapore, while general manager of Barings Futures (Singapore) Ltd. The holding company of the Barings Group, Barings plc, and a...