‘Report responding to concerns raised in the 2012 Kay Review that uncertainty about their legal duties leads investors to focus on short-term movements in share price rather than making long-term investment decisions based on the fundamental value of a company.’
Law Commission, 1st July 2014
Source: www.justice.gov.uk/lawcommission
‘Natasha Phillips underlines the importance of mortgage capacity assessments in divorce proceedings.’
New Law Journal, 6th June 2014
Source: www.newlawjournal.co.uk
‘The doctrine of res judicata precluded a complainant who had accepted an award made by the Financial Ombudsman Service from starting legal proceedings to pursue complaints which had already been submitted to the ombudsman service and which the ombudsman had decided. Further, section 228(5) of the Financial Services and Markets Act 2000 did not exclude the operation of res judicata.’
WLR Daily, 14th February 2014
Source: www.iclr.co.uk
‘Financial services customers who have accepted compensation from the ombudsman can no longer sue for further redress in court following a landmark Court of Appeal ruling.’
Daily Telegraph, 14th February 2014
Source: www.telegraph.co.uk
‘A brewing company was unable to prevent correspondence between itself and its bank and accountants from being disclosed during a dispute connected with the sale of its eastern European business, a High Court judge has ruled.
OUT-LAW.com, 23rd January 2014
Source: www.out-law.com
“Today [22 October] the Law Commission publishes a consultation paper reviewing how ‘fiduciary duties’ apply to investment intermediaries. The paper traces a chain of intermediaries from an individual, saving for a pension, to the registered shareholder of a UK company. It looks at the obligations of those in the chain to act in the interests of savers.”
Law Commission, 22nd October 2013
Source: www.lawcommission.justice.gov.uk
“A self styled debt adviser has been jailed for bullying customers into remortgaging their homes and then pocketing the money for himself.”
BBC News, 21st August 2013
Source: www.bbc.co.uk
“The Court of Appeal has dealt a blow to businesses bringing claims against banks for allegedly mis-selling interest rate swaps products by dismissing a claim against the Royal Bank of Scotland.”
Law Society’s Gazette, 5th August 2013
Source: www.lawgazette.co.uk
“In Nigel Clack v Wrigleys Solicitors LLP [2013] EWHC 413 (Ch), Mr Nicholas Strauss QC (sitting as a Deputy Judge of the High Court) found for the Claimant client against his former Solicitors.”
Hardwicke Chambers, 24th June 2013
Source: www.hardwicke.co.uk
Emptage v Financial Services Compensation Scheme Ltd: [2013] EWCA Civ 729; [2013] WLR (D) 242
“Where a broker had negligently advised a client to take out an interest-only mortgage and make an investment in foreign property in the expectation that the investment would pay off the entirety of the mortgage, the Financial Services Compensation Scheme Ltd was required to take into account both elements of the advice when assessing the client’s compensation for the broker’s breach of duty as a mortgage adviser under the scheme’s rules.”
WLR Daily, 18th June 2013
Source: www.iclr.co.uk
“All consumers of legal services – using a broad definition that includes ‘linked professional services and advice that has a legal dimension’ – should have access to the Legal Ombudsman (LeO), its chairman said today.”
Legal Futures, 13th June 2013
Source: www.legalfutures.co.uk
Genil 48 SL and another v Bankinter SA and another (Case C-604/11); [2013] WLR (D) 213
“An investment service was offered as part of a financial product within the meaning of article 19(9) of Parliament and Council Directive 2004/39/EC of 21 April 2004 on markets in financial instruments only when it formed an integral part thereof at the time when that financial product was offered to the client.”
WLR Daily, 30th May 2013
Source: www.iclr.co.uk
“The court’s jurisdiction to intervene in a decision made by trustees who were acting within their power arose only if they could be shown to have acted in breach of duty. Trustees who wished to exercise a discretion which was within their powers and sought and acted on the advice of apparently competent professional advisers not in breach of duty merely because the professional advice turned out to be incorrect.”
WLR Daily, May 2013
Source: www.iclr.co.uk
“A Supreme Court ruling on the circumstances in which courts can set aside decisions made wrongly by trustees is ‘likely to create uncertainty’ due to the subjective nature of the test, an expert has said.”
OUT-LAW.com, 10th May 2013
Source: www.out-law.com
“Financial advisers cannot be said to be ‘independent’ if they offer retail investment advice to clients based solely on their assessment of ‘passive investments’, the Financial Services Authority (FSA) has said.”
OUT-LAW.com, 13th February 2013
Source: www.out-law.com
“Four banks will now compensate tens of thousands of small businesses who were mis-sold complex insurance deals, says the Financial Services Authority.”
BBC News, 31st January 2013
Source: www.bbc.co.uk
“Legal advice privilege would not be extended to communications in connection with advice given by professional people other than members of the legal profession, even where that advice was legal advice which the professional person was qualified to give.”
WLR Daily, 23rd January 2013
Source: www.iclr.co.uk
“The Supreme Court has ruled that legal advice privilege should only apply to advice given by a member of the legal profession; that this is what the common law has always meant, and that any wider interpretation would lead to uncertainty. Two strong dissents do not find any principled underpinning for the restriction of the privilege to advice from solicitors or barristers.”
UK Human Rights Blog, 24th January 2013
Source: www.ukhumanrightsblog.com
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