FCA past business reviews: what duties, if any, do financial institutions owe directly to customers? High Court finds no contractual obligations, but tortious duties are arguable

The recent and somewhat surprising decision of the High Court in Suremime Limited v Barclays Bank plc [2015] EWHC 2277 (QB) is important to any financial institution that has agreed to conduct an FCA past business review or redress exercise. In particular, the court has held that it is arguable that such institutions owe duties of care in tort, such … Read more

Marshall v Barclays Bank plc: High court strikes out claim for mis-selling of an interest rate hedging product on the basis of a pre-existing settlement agreement

Gary Ronald Marshall v Barclays Bank plc [2015] EWHC 2000 (QB) concerns an application by Barclays Bank plc (“Barclays“) to strike out or obtain summary judgment in respect of a claim brought against the bank for alleged mis-selling of an interest rate hedging product. The basis of the application by Barclays, was that such claim was barred … Read more