Archives: Professional negligence

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Financial Ombudsman Service compensation limit increases to £350,000 on 1 April 2019

The Financial Conduct Authority (“FCA”) has published a policy statement detailing that the Financial Ombudsman Service (“FOS”) compensation limit of £150,000 will increase to £350,000 from 1 April 2019. This follows a Consultation on the topic of the FOS award limit, which was open between October and December 2018.   The new limit of £350,000 applies … Continue Reading

Breaking news. FOS money awards and jurisdiction: all change in 2019?

In a move designed to (in their own words) ‘ensure more complainants receive fair compensation’ and to ‘build consumer trust in the integrity of the industry’, on 16 October 2018 the FCA published a Consultation Paper in which the regulator outlines proposals for increasing the Financial Ombudsman Service money award limit from £150,000 to £350,000 for … Continue Reading

Court of Appeal guidance on when the limitation period can be extended for negligence claims under s14A of the Limitation Act 1980

The Court of Appeal decision in Mr Nobu Su v Clarksons Platou Futures Limited and another [2018] EWCA Civ 1115 from earlier this month concerns the interpretation and application of s14A of the Limitation Act 1980 (“s14A”) and when a claimant is deemed to have ‘knowledge’ of the negligence in order to extend the limitation … Continue Reading

The watchdog sniffs out CFDs

The Financial Conduct Authority (“FCA”) has recently turned its attention to firms who may mis-sell contracts for difference (“CFDs”) to customers. The FCA says that it has  a “serious concern” about the market. On 12 January 2018, following a 12 month review of the CFD market,  the FCA issued an ominous warning in the form of a “Dear CEO” letter addressed … Continue Reading
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