Edited Gerard McMeel & John Virgo
Now available again in hardback, this comprehensive work covers the legal and regulatory environment in which claims concerning sales of and advice on financial products for individuals and businesses are brought and defended.
Fully updated to explain the impact of the twin peaks regulation under the Financial Services Act 2012, the book analyses the role of the Financial Conduct Authority and considers its activities to date.
The book covers both statutory claims and traditional 'professional negligence' claims based on contract and tort against financial advisers, brokers, other intermediaries and product providers. Also included in this third edition is a new chapter on consumer credit, considering the transfer of responsibility for the consumer credit regime from the Office of Fair Trading to the Financial Conduct Authority.
This is the leading work on professional negligence in the financial services field and is an essential reference tool for all those who advise on bringing or defending such claims.
PART I: THE INDUSTRY AND REGULATORY CONTEXT
1. The Legal and Regulatory Framework
2. The UK Regulatory Framework
PART II: CAUSES OF ACTION
3. Unregulated Financial Services and the Impact on Transactions
4. Breach of Statutory Duty
5. Claims in Contract
6. Misrepresentation and Duties of Disclosure
8. Equitable Claims: Fiduciary Obligations, Undue Influence, and Unconscionability
PART III: INTERMEDIARIES AND FINANCIAL PROMOTION
10. Financial Promotion
PART IV: STANDARDS OF CONDUCT
11. Standards of Conduct: Overview
12. Standards of Conduct for Investment Advice, Stockbroking, and Portfolio Management ('COBS')
13. Regulated Collective Investment Schemes
14. Standards of Conduct in General Insurance Business
15. Standards of Conduct in Mortgage Lending and Advising
PART V: DEPOSIT-TAKING AND CONSUMER CREDIT CONDUCT OF BUSINESS
16. Conduct of Business for Banks, Other Deposit-Takers and Payment Services Providers
17. Regulation of Consumer Credit Business by the Financial Conduct Authority
PART VI: REMEDIES
19. Accessing Compensation: The Framework
PART VII: BRINGING AND DEFENDING CLAIMS
20. Proving Liability and Loss: Use of Experts
21. Claims Investigation and Presentation
22. Defending Claims
PART VIII: FINANCIAL SERVICES AND SOLICITORS
24. Financial Services and Solicitors