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In an earlier contribution to this journal, the author sought to analyse the legal implications of the recent decision by the liquidators of the Bank of Commerce and Credit International (BCCI), Touche Ross, to issue writs against the Bank of England claiming damages on behalf of a small, representative number of depositors. This paper will seek to complement that analysis by examining the legal implications of a parallel decision by the liquidators of BCCI to issue writs against the auditors of BCCI, Price Waterhouse and Ernst & Young, the joint auditors of BCCI until 1987. These writs allege that the audited accounts would have indicated that BCCI was in trouble and that, as a result, a duty of care was owed to existing depositors and to potential investors. An examination of the case law on the range of duties owed by auditors in carrying out their statutory functions will conclude that the potential actions against Price Waterhouse and Ernst & Young are unlikely to succeed.

This paper seeks to analyse the legal implications of the recent decision by the liquidators of the Bank of Commerce and Credit International (BCCI), Touche Ross, to issue writs against the Bank of England claiming damages on behalf of a small, representative number of depositors. The writ alleges a failure to regulate BCCI properly in accordance with the banking legislation. The author examines the Bank of England's duties and functions under the banking legislation, reviews the case‐law which has examined the statutory powers of regulatory authorities in the financial field and assesses how successful the proposed action is likely to be. The action against the Bank of England is the latest in a range of options, designed to retrieve the significant losses suffered by the depositors in BCCI, which have been mooted since the bank collapsed.

Introduction In an earlier contribution to this journal, this author described in detail the provisions of the Fair Employment (Northern Ireland) Act 1976. That article also indicated that the Act was due to be reformed to answer criticism that it was just not working. These reforms are now contained in the Fair Employment (Northern Ireland) Act 1989. This article seeks to describe the content of these provisions in detail. Elsewhere in this volume, an analysis will be made of their likely effect.

The article describes the Fair Employment (Northern Ireland) Act 1976 which seeks to promote equality of opportunity in employment in Northern Ireland between persons of different religious beliefs.

Our Dublin correspondent telegraphed last night: