Mis-Selling

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The end of the road for motor finance claims? The hotly awaited decision in Johnson v FirstRand (and others)

By Katherine Wakeham and Helena Clarke on Posted in Dispute Resolution, Litigation Funding, Mis-Selling
Those (including us) tuning in on Friday afternoon to hear the Supreme Court’s decision in the combined appeals of Hopcraft and another v Close Brothers Limited; Johnson v FirstRand Bank Limited (London Branch) t/a MotoNovo Finance; and Wrench v FirstRand Bank Limited will not have been alone. Rarely is a judgment as eagerly anticipated as … Continue Reading

FCA’s discretion upheld in IRHP redress scheme judicial review

By Chris Webber on Posted in Banking, Mis-Selling, Motor finance, Regulation
Timely insights into the design of mass consumer redress schemes In R (All-Party Parliamentary Group on Fair Banking) v Financial Conduct Authority [2025] EWHC 525 (Admin), the High Court examined the FCA’s decision regarding the exclusion of certain customers from the scope of the voluntary Interest Rate Hedging Products (IRHP) redress scheme established in 2012, … Continue Reading

Too soon to move on? Supreme Court changes limitation in secret commission cases

By Chris Webber on Posted in Banking, Mis-Selling
The Supreme Court has today provided important clarification on when “deliberate concealment” or “deliberate commission of a breach of duty” by a defendant will extend the limitation period for bringing claims. The decision is bad news for financial services firms affected by PPI mis-selling claims and other claims in which firms are accused of making … Continue Reading

Financial Promotions Data Analysed – An Increase in Intervention

By Chris Webber, Katherine Wakeham and Alex Villers on Posted in Investigations, Mis-Selling
Earlier this year, the Financial Conduct Authority published its analysis of its financial promotions data for 2022. That report sheds some interesting light on the FCA’s actions taken against authorised firms, and unauthorised entities and individuals, for breaches of financial promotion rules. The standout message is clear – the FCA has significantly increased its interventionist activity, in … Continue Reading

Ready or not, here comes the Consumer Duty

By Chris Webber and Ian Debbage on Posted in Banking, Insurance, Investment Management, Mis-Selling, Pensions, Regulation
Since July 2022 when the FCA published its rules and guidance to implement the Consumer Duty, much ink has been spilled on what it will mean for affected firms. Now, with the clock ticking down to implementation on 31 July 2023, the FCA has published the findings of its review of a number of larger … Continue Reading

FCA tightens appointed representative regime

By Chris Webber and Mariyam Harunah on Posted in Mis-Selling, Regulation
In August 2022, the FCA released a policy statement introducing improvements to the appointed representative (“AR“) regime. In its policy statement, the FCA provides feedback on its earlier consultation, and sets out new rules to make authorised financial firms more responsible for their ARs. In its press release, the FCA says that whilst some principal … Continue Reading

FCA to crack down on conduct in the payment services and e-money sectors

By Squire Patton Boggs on Posted in Mis-Selling, Regulation
The FCA published a consultation paper on 1 August 2018 to revamp its rules and guidance for payment service providers (“PSPs”) and e-money institutions, alongside proposing a crack down on the marketing and promotion of currency conversion services. The proposals are designed to tackle recent concerns over confusing and misleading marketing material and exchange rates … Continue Reading
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