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FCA past business reviews: what duties, if any, do financial institutions owe directly to customers? High Court finds no contractual obligations, but tortious duties are arguable
  • Herbert Smith Freehills LLP
  • United Kingdom
  • August 28 2015

The recent and somewhat surprising decision of the High Court in Suremime Limited v Barclays Bank plc 2015 EWHC 2277 (QB) is important to any


Can one contract into the Consumer Credit Act 1974?
  • Herbert Smith Freehills LLP
  • United Kingdom
  • August 3 2015

From 1998 to 2008 the Consumer Credit Act 1974 only applied to agreements to lend consumers less than £25,000. The financial limit was removed


Marshall v Barclays Bank plc: High Court strikes out claim for mis-selling of an interest rate hedging product on the basis of a pre-existing settlement agreement
  • Herbert Smith Freehills LLP
  • United Kingdom
  • July 30 2015

Gary Ronald Marshall v Barclays Bank Plc 2015 EWHC 2000 (QB) concerns an application by Barclays Bank Plc ("Barclays") to strike out or obtain


Banking litigation update - July 2015
  • Herbert Smith Freehills LLP
  • United Kingdom
  • July 2 2015

In this update we highlight some of the more important cases and developments affecting UK financial institutions over the past year MIS-SELLING


Important high court decision on waiver of privilege and without prejudice protection
  • Herbert Smith Freehills LLP
  • United Kingdom
  • June 12 2015

In a decision earlier this week, the High Court held that a defendant bank had waived both legal professional privilege and without prejudice


Causation in valuers' negligence claims: reliance on earlier valuations
  • Herbert Smith Freehills LLP
  • United Kingdom
  • June 11 2015

A recent decision in the Chancery Division, Tiuta International Ltd (in liquidation) v De Villiers Surveyors Ltd 2015 EWHC 773 (Ch), raises an


A cautionary Tael Supreme Court decision on LMA secondary trade documents Tael One Partners Limited v Morgan Stanley co international plc
  • Herbert Smith Freehills LLP
  • United Kingdom
  • April 16 2015

The Tael case concerns LMA secondary trading documentation, and specifically the allocation of a payment premium between the buyer and seller. After


Broker breached fiduciary duty by not disclosing sum of commission received
  • Herbert Smith Freehills LLP
  • United Kingdom
  • March 24 2015

The Court of Appeal has held that a credit broker was in a fiduciary relationship with borrowers, with the consequence that the broker breached its


UK: bank exercising a right of forced sale did not have a duty to obtain the best price reasonably obtainable
  • Herbert Smith Freehills LLP
  • United Kingdom
  • February 23 2015

The High Court has found that a Bank which had exercised a right of forced sale over an asset was not under a duty by way of an implied term to take


Market abuse update
  • Herbert Smith Freehills LLP
  • Australia, European Union, France, Hong Kong, United Kingdom, USA
  • December 15 2014

The FCA has continued to build on the strong track record of civil and criminal enforcement action against abusive conduct and manipulation, notably