Enforcement and redress

Enforcement and redress guidance:

This Practice Note explains the rights held by certain categories of person to sue authorised firms in circumstances in which they have suffered a loss. The legislative...

Practice Note

Background to the Joint Board of Appeal of the European Supervisory Authorities The Joint Board of Appeal of the European Supervisory Authorities (Board of Appeal) is a...

Practice Note

Background to the complaints scheme Part 6 of the Financial Services Act 2012 (FSA 2012) requires the Bank of England, the Financial Conduct Authority (FCA) and the...

Practice Note

The rules for how firms should deal with complaints by customers are contained in the Dispute Resolution: Complaints Sourcebook (DISP) in the Financial Conduct Authority...

Practice Note

What is a consumer redress scheme? Rule making powers came into force in 2010 which afforded the predecessor to the Financial Conduct Authority (FCA), the Financial...

Practice Note

BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...

Practice Note

The compulsory jurisdiction of the Financial Ombudsman Service (FOS) is defined in Chapter 2 of the Financial Conduct Authority (FCA) Dispute Resolution: Complaints...

Practice Note

What is an 'eligible complainant'? In order to refer a complaint to the Financial Ombudsman Service (FOS), a person must be an 'eligible complainant'. This applies...

Practice Note

Purpose of the Financial Ombudsman Service The Financial Ombudsman Service (FOS) is an independent dispute resolution scheme that exists to assist consumers in resolving...

Practice Note

Awards by the FOS Where a complaint to the Financial Ombudsman Service (FOS) is upheld, the FOS may order a respondent firm (the respondent) to pay money, costs and/or...

Practice Note

The time limits which apply to a complaint taken to the Financial Ombudsman Service (FOS) are set out in Chapter two of the Financial Conduct Authority's (FCA) Dispute...

Practice Note

The voluntary jurisdiction of the Financial Ombudsman Service (FOS) is defined in Chapter 2 of the Financial Conduct Authority's (FCA) Dispute Resolution: Complaints...

Practice Note

The evolution of judicial review cases within the financial services sector Judicial review is the procedure by which courts in England and Wales examine the decisions of...

Practice Note

Since 1 April 2013, when making a claim for compensation to the Financial Services Compensation Scheme (FSCS), it is no longer necessary for the FSCS to seek a claimant's...

Practice Note

The powers of the Financial Services Compensation Scheme (FSCS) to raise funds from the regulated community are contained in Chapter 6 of the FEES sourcebook of the...

Practice Note

There are different regimes under the Financial Services Compensation Scheme (FSCS) system for deposit claims, non-deposit claims and insurance policyholder protection....

Practice Note

This Practice Note covers the conditions necessary for the payment of compensation to a person by the Financial Services Compensation Scheme (FSCS). This covers rules...

Practice Note

This Brexit Deposit Guarantee Schemes Directive 2014/49/EU (DGSD) quick guide details current UK legislation and retained EU legislation that will be amended and/or...

Practice Note

This Practice Note provides a guide to the current rules which apply when determining whether a court has jurisdiction to hear a dispute and the relationship between...

Practice Note

Background to the Investor Compensation Schemes Directive The Investor Compensation Schemes Directive (EC) 97/9 (ICSD) is one of two existing EU guarantee scheme...

Practice Note

What is the Upper Tribunal (Tax and Chancery Chamber)? The Upper Tribunal is an appellate tribunal created by the Tribunals, Courts and Enforcement Act 2007. The Tax and...

Practice Note

Introduction Prior to September 2008, numerous small and medium-sized enterprises (SMEs) entered into interest rate hedging products (IRHPs) to support borrowing with...

Practice Note

Since 2015, the courts have grappled with the claimant argument that financial institutions owe duties of care in tort directly to their customers in connection with...

Practice Note

Statutory requirement Part 6 of the Financial Services Act 2012 (FSA 2012) requires the regulators to appoint an independent person to be responsible for the conduct of...

Practice Note

Decision making committees Decisions as to whether to give a statutory notice will be taken by an appropriate decision making committee (DMC). There are four levels of...

Practice Note

Settlement decision making procedure Like the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) has a formal settlement process for enforcement...

Practice Note
Trending Topics
In-House COVID-19