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Clarity for Loan Participations Under Dodd-Frank

Client Alert | less than 1 min read | 07.19.12

Insights

Client Alert | 3 min read | 11.19.24

Financiers Beware: UK Court of Appeal Holds Financiers Liable to Repay Commission Payments Paid to Brokers

In a recent UK Court of Appeal judgment in what is known as “the motor finance cases” (see Johnson v FirstRand Bank, Wrench v FirstRand Bank and Hopcraft v Close Brothers Limited, which appeals were all heard together), the Court has shone a spotlight on the issue of commissions paid by financiers to brokers and determined that, in some cases, they may be considered “bribes” under UK law. ...