Tag: s.138d fsma
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The FCA’s proposed new "Consumer Duty" – what does it mean?
High Court takes view in test case on breach of statutory duty under s.138D FSMA, in the context of repeat borrowings and an alleged breach of CONC
The High Court has recently considered a test case under s.138D of the Financial Services and Markets Act 2000 (FSMA), in the context of alleged breaches …
The Financial Services Duty of Care Bill
On 29 October Lord Sharkey introduced a Private Members’ Bill into the House of Lords, which proposed amending the Financial Services and Markets Act …
High Court rejects the first IRHP mis-selling claim brought by private persons under Section 138D FSMA
The High Court has rejected the first interest rate hedging product ("IRHP") mis-selling claim brought by private persons under section 138D of the …
Court of Appeal finds no contractual duty to prevent counterparty from inflicting economic harm on itself
A recent Court of Appeal decision has found that a broker owed no contractual duty to prevent a "sophisticated and experienced" trader (trading as a …
CGL Group v RBS: No Suremime-type duty of care owed directly to customer in connection with past business review
Six months after the High Court's surprising judgment in Suremime Limited v Barclays Bank plc [2015] EWHC 2277 (QB), the recent decision …
Suresh Sivagnanam v Barclays Bank: High Court limits shareholders seeking a second bite of the cherry in IRHP mis-selling cases
Appeal relating to alleged mis-selling of interest rate swaps dismissed: Green and Rowley v RBS
Green & Rowley v Royal Bank of Scotland plc [2013] EWCA Civ 1197 The Court of Appeal has handed down its decision …
Individual fails in large mis-selling claim concerning leveraged investments in structured notes
Basma Al Sulaiman v (i) Credit Suisse Securities (Europe) Limited; and (ii) Plurimi Capital LLP [2013] EWHC 400 (Comm) In a strongly worded …
Interest rate hedging product claims – the current landscape
1. The FSA review In 2012, the Financial Services Authority (FSA) announced the findings of its review into interest rate hedging products (IRHPs) …