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    Financial Ombudsman increases award limit to £350,000

    Posted on March 28th, 2019 by Sophia Hanif

    From 1 April 2019, the Financial Ombudsman Service (FOS) can make awards against regulated firms of up to £350,000, which represents an increase of 133%. The following award limits will apply: £350,000 for complaints about acts or omissions by firms which […]

    APPG on Fair Business Banking: Improve SMEs access to justice and establish a Financial Services Tribunal

    Posted on July 12th, 2018 by Jaron Dosanjh

    The APPG on Fair Business Banking launched their highly anticipated dispute resolution report on 11 July 2018.  The report, authored by Kevin Hollinrake MP and undertaken by the Centre for Policy Studies, sets out the position of the APPG on […]

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    LEXLAW Submits Evidence to the Treasury Committee’s SME Finance Inquiry

    Posted on June 15th, 2018 by Jaron Dosanjh

    We have today submitted evidence on the ineffectiveness of existing arrangements for dispute arbitration and settlement between SMEs and banks to the Treasury Committee‘s SME Finance Inquiry.    Re: Submissions to the Treasury Select Committee’s SME Finance Inquiry in relation […]

    RBS to Expand GRG Redress Scheme: Independent Oversight for Consequential Loss Compensation Appeals Process

    Posted on May 24th, 2018 by Jaron Dosanjh

    The Royal Bank of Scotland (RBS) has recently announced that it will expand its redress scheme to include appeals with independent third- party oversight for consequential losses incurred by businesses in its Global Restructuring Group (GRG) turnaround division. RBS’s Chief […]

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    LIBOR, FX and Key Benchmark Rigging Claims against RBS, Barclays, HSBC & Lloyds set to Strengthen for Customers Mis-sold Derivatives

    Posted on March 9th, 2018 by Jaron Dosanjh

    The door has been opened by the Court of Appeal in PAG v RBS [2018] for misrepresentation claims to be brought by a counter-party to a derivative which is linked to LIBOR, FX or key benchmark where the Swap is […]

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    Property Alliance Group v RBS [2018]: Court of Appeal Opens the Door for Implied Misrepresentation Claims against Banks Mis-selling LIBOR-linked Derivatives

    Posted on March 5th, 2018 by Jaron Dosanjh

    The Court of Appeal (Sir Terence Etherton MR, Longmore LJ and Newey LJ) handed down judgment in the highly anticipated appeal from Asplin J’s decision in Property Alliance Group Ltd v The Royal Bank of Scotland Plc [2016] EWHC 207 […]

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    Letter from the FCA to the Treasury Select Committee detailing FCA powers and regulatory perimeter (30 January 2018)

    Posted on February 6th, 2018 by Jaron Dosanjh

    The Treasury Select Committee has published a Letter from the Chief Executive of the FCA relating to the powers and perimeter of the FCA, dated 30 January. The letter provides a useful outline on the FCA’s regulatory ambit, especially in relation to RBS GRG, embedded […]

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    HM Parliament Condemns RBS GRG’s Parasitic Treatment of SMEs

    Posted on January 26th, 2018 by Jaron Dosanjh

    On 18 January 2018, a Parliamentary backbench motion on RBS’s Global Restructuring Group’s (GRG) systemic failure to protect SMEs has received unanimous Ministerial support in condemning the bank’s parasitic relationship and systematic asset stripping of the British business sector. The debate […]

    RBS’ GRG ‘Just Hit Budget’ Memo: ‘let customers hang themselves’

    Posted on January 19th, 2018 by Jaron Dosanjh

    “Rope: Sometimes you need to let customers hang themselves.” A damning 2009 internal memo entitled “Just Hit Budget!” was published on 17 January by the Treasury Select Committee as MPs ramp up their investigation into RBS’s Global Restructuring Group’s mis-treatment of SME’s. […]

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    Mis-selling of Unsuitable Financial Products: Credit Suisse Loses S138D FSMA Litigation Case

    Posted on January 15th, 2018 by Jaron Dosanjh

    In Abdullah and others v Credit Suisse (UK) Limited and Credit Suisse Securities (Europe) Limited [2017] EWHC 3016 (Comm), the High Court has given judgment in favour of private person claimants in their mis-selling action for damages against a major bank. […]

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