CHEQUE CLEARING TIME 4
An interesting example of the conflict between POCA requirements and confidential relationships and of a judicial attitude towards this conflict is seen in Squirrell Limited -V- National Westminster Bank Plc Chancery Division, 22nd April 2005.
The news items under the above item dated 26th January and 7th February 2005 are now overtaken by reports that technology is in place to enable cheques to be cleared on the same day as presentation and "an agreement has been reached and the implementation process is already under way.
The third money laundering directive is now making its way through the European legislative process and whereas there previously had been widespread support for amendments which would have allowed member states to make their own rules regarding tipping-off offences which would, in turn, have...
The Court of Appeal ruled last recently in England, in Bowman -v- Fells 2005 EWCA CIV 226 that lawyers advising client in the course of litigation are exempt from requirements under the Proceeds of Crime Act 2002 to report suspicion of money laundering.
The Court of Appeal, in DWP V Hinchey, had found that a benefit claimant whose benefit entitlement reduced as a result of a change in his entitlement to a different benefit but who failed to disclose that change to the DWP and received an overpayment of benefit as result of that omission, did...
Ken Swinton concludes his survey of the prospective compulsion of single surveys and purchasers information packs, looking here at some of the financial implications.
The effect on the sale process of the introduction of single surveys and PIPs