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  • Posts Tagged ‘Financial Services’

    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 […]

    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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    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 […]

    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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    Ross McEwan claims RBS “deeply regret the mistakes made in the past” yet fails to accept critical report’s findings in letter to Nicky Morgan MP

    Posted on November 2nd, 2017 by Sophia Hanif

    In a letter to Treasury Select Committee chair Nicky Morgan MP, Ross McEwan, Chief Executive of the Royal Bank of Scotland Group, speaking about the GRG report, acknowledges that the bank could have “done better” in managing SME customers in financial […]

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    The Lawyer: ‘Charity gains ground in RBS and NatWest mis-selling claim’

    Posted on July 25th, 2017 by Jenny Julian

    The Lawyer reports: Not-for-profit organisation Wenta has gained ground in its case against DLA Piper clients NatWest and the Royal Bank of Scotland for which it is now seeking damages of over £500,000. The charity has won the right to see documents […]

    High Court Litigation – Metro Bank Plc

    Posted on March 20th, 2017 by Jenny Julian

    Our team of bank litigators can assist on litigation claims or high value Financial Ombudsman Service complaints against Metro Bank Plc. We have brought very high value claims against every major bank in the UK and are currently acting against Metro […]