Can a bank be liable for misleading or deceptive conduct?

However, bankers are also subject to statutory prohibitions on misleading or deceptive conduct. It is now an established principle of law that silence may amount to misleading or deceptive conduct.1The conflicting demands of secrecy on the one hand, and disclosure on the other, require bankers to find the right balance on a case-by-case basis.

What is the false or misleading Information Act 2014?

The False or Misleading Information Offence – Introduction 1. The Care Act 2014 has put in place a new criminal offence applicable to care providers who supply, publish or otherwise make available certain types of information that is false or misleading, where that information is required to comply with a statutory or other legal obligation.

Can a business make a false or misleading statement?

Businesses are not allowed to make statements that are incorrect or likely to create a false impression. This rule applies to their advertising, their product packaging, and any information provided to you by their staff or online shopping services.

Who is culpable for false or misleading information?

found to have published or provided false or misleading information. The second is where a director or other senior individual are found to have been culpable in the offence. This means that the provider must first be found to have committed the offence before any individual can be prosecuted.

Who was charged by the SEC with misleading investors?

ICP and President Settled Charges – ICP and its president Thomas Priore agreed to pay penalties and settle the SEC’s charges (9/6/12) J.P. Morgan Securities – SEC charged the firm with misleading investors in a complex mortgage securities transaction just as the housing market was starting to plummet.

Is it a crime to give false or misleading information?

The Government accepted the recommendation to make it a criminal offence for a provider or individual to provide false or misleading information in a quality account, but felt that the offence should be applied more widely. 5.

The False or Misleading Information Offence – Introduction 1. The Care Act 2014 has put in place a new criminal offence applicable to care providers who supply, publish or otherwise make available certain types of information that is false or misleading, where that information is required to comply with a statutory or other legal obligation.

What did Mizuho Securities do to misleading investors?

Mizuho Securities USA- SEC charged the U.S. subsidiary of Japan-based Mizuho Financial Group and three former employees with misleading investors in a CDO by using “dummy assets” to inflate the deal’s credit ratings while the housing market was showing signs of severe stress.