A Supreme Court victory for the Financial Services Authority (FSA) could result in the regulator becoming more litigious, according to law firm Taylor Wessing.
The case - involving the FSA, Sinaloa Gold and Barclays - could result in problems for banks and other financial institutions as the ruling means seeking financial injunctions is now less risky for the regulator, according to the law firm. Shane Gleghorn, head of commercial disputes and a partner at Taylor Wessing explained: "As a result of the decision the FSA will not always be required to give an undertaking that it will compensate for damages incurred by innocent third parties, such as banks, as a result of it obtaining a freezing injunction against a financial institution's client. ...
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