The Financial Ombudsman Service has noted a “dramatic rise” in complaints by consumers concerning financial scams and fraud. With the hope of embuing safer financial habits and a reduction in these types of complaints, FOS reminds consumers to be careful,
UK Finance Disputes and Regulatory Investigations Blog
Financial Markets Awareness: Practical Legal Insight
The UK Finance Disputes and Regulatory Investigations Blog, published by Squire Patton Boggs, focuses on legal developments and practical issues in financial disputes and regulatory investigations within the UK. It covers topics such as digital asset property rights, financial crime risk assessments, consumer finance litigation, and cross-border enforcement of judgments. The blog analyzes legislative changes, regulatory reviews, and significant court decisions affecting financial services firms, investors, and consumers. It also addresses compliance challenges, enforcement strategies, and the evolving regulatory landscape impacting finance, capital markets, and fintech sectors.
Latest from UK Finance Disputes and Regulatory Investigations Blog - Page 5
A shot in the dark? Claims against “persons unknown”
By Peter Lees
A recent judgment in an area which might seem far removed from financial services throws a spotlight on how financial institutions deal with the increasing problem of anonymous online abuse campaigns.…
Greater Diversity and Inclusion on Listed Company Boards: FCA Proposals
By Chris Webber & Alex Villers
The Financial Conduct Authority has issued a Consultation Paper, which proposes new disclosure rules with a view to improve diversity and inclusion for listed companies.…
LCF mini-bond holders withdraw appeal against FSCS
By Chris Webber
The Financial Services Compensation Scheme (FSCS) confirmed on 23 August that London Capital and Finance (LCF) mini-bond holders have withdrawn their appeal against an important March 2021 High Court decision dismissing their judicial review claim. FSCS confirmed that the litigation…
FCA Business Plan 2021/22 – transformation, accountability, and regulatory priorities for the coming year
By Chris Webber & Jack Wood
The FCA’s annual business plan is a closely watched indicator of what we can expect from the regulator in the coming year. The recently published Business Plan for 2021/22 indicates the FCA’s focus on continued transformation and greater accountability as…
Compulsory ADR – Coming soon to a dispute near you?
Alternative dispute resolution (or “ADR”) has long played an important role in dispute resolution. A recent report by the Civil Justice Council (the “Report”), commissioned to consider the legality and desirability of making ADR compulsory, could see ADR playing an…
Bank did not breach duties in loan renegotiation
By Chris Webber
In December 2006, Mr Morley, a commercial property developer, entered into a £75m, three-year loan with Royal Bank of Scotland plc to refinance his property portfolio, add new properties to it and provide him with a “bonus payment” for his…
Supreme Court establishes new scope of duty test in professional negligence
The UK Supreme Court has significantly reformulated the scope of duty test that applies in cases of professional negligence. It handed down its decision in the case of Manchester Building Society v Grant Thornton UK LLP [2021] UKSC 20 on…
FCA issues updated statement on insurers making deductions for Government support from COVID-19 business interruption settlements
Last month, the Financial Conduct Authority (“FCA”) published updated guidance regarding COVID-19 business interruption settlements and deductions made for Government support.
The FCA first commented on this issue in August 2020, following reports that some insurers were making deductions for…
Authorised Push Payment Fraud – court rules on scope of banks’ obligations
In March 2018, Mrs Philipp transferred two payments to accounts in the UAE, totalling £700,000, representing her and her husband, Dr Philipp’s savings. In doing so, Mrs and Dr Philipp thought they were assisting an investigation by the FCA and…