LEXLAW Solicitors & Barristers
Given the complexity of business interruption claims and the legal uncertainty surrounding their enforcement (the FCA have issued a test case recently in the High Court), it is is essential that you seek expert legal advice early in order to prepare your Business Interruption Insurance claim.
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…
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…
Ali Akram and Jaron Dosanjh attended Parliament on LEXLAW’s behalf at the New City Agenda Event, Tuesday 10th July 2018, Committee Room 14, House of Commons
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:…
RBS says it will expand its redress scheme to include appeals with independent third- party oversight for consequential losses suffered due to misconduct by its Global Restructuring Group (GRG).
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…
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…
The FCA regulates authorised firms under the Financial Services and Markets Act (FSMA) 2000, overseeing conduct and prudential standards. It authorises firms, supervises compliance, investigates breaches, and enforces rules via fines, bans, and public censure. The FCA’s remit focuses on “regulated activities,” but it also monitors firms’ overall behaviour, including some unregulated actions linked to regulated firms. It holds senior managers accountable under the Senior Managers and Certification Regime (SMCR). The FCA aims to protect consumers, uphold market integrity, and promote competition, balancing its powers with statutory limits set by Parliament and Government.
UK Parliament unanimously condemned RBS’s Global Restructuring Group (GRG) for its systemic mistreatment of SMEs, describing it as a parasitic unit engaged in asset stripping and aggressive litigation tactics. MPs highlighted GRG’s role in artificially distressing viable businesses, undervaluing assets, and employing harsh recovery strategies during 2008-2013, leading to widespread financial harm. The FCA’s delayed and redacted report faced heavy criticism, with calls for transparent accountability, a Financial Services Tribunal, whistleblower protections, and full release of investigations.