Fighting for fairer treatment for #consumers in #financialservices and beyond. Commercial #litigation and #arbitration at @HausfeldGlobal
London, England
Joined April 2012
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As @MartinSLewis says, BIG move by @TheFCA. 3 questions:
1. WHY so late - the FCA admitted the problem in 2019 and reportedly were alerted earlier?
2. WHAT compensation will be paid - only commission, or also APR?
3. HOW does this interact with the £1bn CAT car finance claim?
Sheldon Mills explains our action on motor finance fca.org.uk/news/statements/f…
Very pleased this will get to trial in 2024 - watch this space!
We are delighted to see our upcoming legal battle against the FCA be listed by @TheLawyer as one of the most significant upcoming legal cases in Britain. If we're successful, banks could be required to pay a further £3.2bn to customers who were mis-sold interest rate swaps👇
Delighted to win this permission for the @APPGbanking. The judgment is here: bailii.org/ew/cases/EWHC/Adm…. Expect a full hearing in Q1 2024.
The APPG, represented by Hausfeld, won permission to proceed with its judicial review of the FCA’s decision not to act on findings of reviewer John Swift KC. The Hausfeld team: @NedBeale Simon Bishop & Rachael Baillie instructed Thomas Roe & Anna Lintner
bit.ly/3D15FyT
Ned Beale retweeted
The APPG, represented by Hausfeld, won permission to proceed with its judicial review of the FCA’s decision not to act on findings of reviewer John Swift KC. The Hausfeld team: @NedBeale Simon Bishop & Rachael Baillie instructed Thomas Roe & Anna Lintner
bit.ly/3D15FyT
My take on the moral and economic reasons for the UK government and legal profession to support our #RuleOfLaw, and what that means in practice.
"Why should the UK weaponise the English rule of law?” - a question posed during Paris #Arbitration Week. In an article for @TheLawyermag, @NedBeale sets out his thoughts around this interesting conundrum.
bit.ly/3p6QQa9
Simon Bishop and I are delighted that @HausfeldGlobal are supporting @TransparencyTF's important work this year. We share a common approach to #financialservices and #consumerprotection.
transparencytaskforce.org/wp…
Banks' responses to Quincecare duties and anti-money laundering rules are having unintended consequences for their customers. My colleague Anna Gilbert and I discuss. #consumerprotection #financialservices
When protective measures have unintended consequences: the potential downsides to #Quincecare protections and the #recourse available to borrowers who suffer losses due to protective banking practices. Ned Beale and Anna Gilbert review #banking #finance
bit.ly/42OeqYu
City Minister says FCA Consumer Duty will lead to frivolous lawsuits. I think that's wrong: the Duty does not include a private right of action. But happy for @griffitha to correct me?
investmentweek.co.uk/news/40…
This is a positive development - The Financial Services and Markets Bill is looking to step up #consumerprotections when people inadvertently transfer more than £100 to imposters.
thetimes.co.uk/money-mentor/… #scams #fraud #reimbursement #financialsuccess #legislation @UKHouseofLords
Yet more good reasons for consumers to be wary of crypto: dailymail.co.uk/news/article… #consumerprotection #scams #financialservices
More than a little worrying:
New research by NordVPN has revealed that the websites of a staggering one in six businesses added to @TheFCA's blacklist of unauthorised firms last year remain online and accessible to UK consumers:
thearmchairtrader.com/fca-bl… #regulation #scammers
This is the UK’s first systematic review of how redress schemes work… and should work. Essential reading both for victims and institutions.
The APPG has this week published a report on how we can fix our broken compensation system.
We cannot carry on reinventing the wheel. Too many victims, from the infected blood scandal through to Windrush, have gone too long without compensation.
Report➡️appgbanking.org.uk/wp-conten…
Ned Beale retweeted
The APPG has this week published a report on how we can fix our broken compensation system.
We cannot carry on reinventing the wheel. Too many victims, from the infected blood scandal through to Windrush, have gone too long without compensation.
Report➡️appgbanking.org.uk/wp-conten…
It seems a growing number of people are forming the view that @TheFCA is poor at responding to scam alerts given to it. @rteliveline writes "How long, I wonder, before victims of scams become vigilantes?"
thisismoney.co.uk/money/expe…
#scams #financialservices #regulation
This has got to be a first, surely:
"A UK government minister has suggested banks could sue the Bank of England over strict financial regulations aimed at preventing another crash."
independent.co.uk/news/uk/po… #regulation #legislation #consumerprotection
The quantum of complaints against financial products is alarming: Between July & September 2022, the @financialombuds received 38,470 new complaints about financial products.
financialplanningtoday.co.uk… #ConsumerRights #consumerprotection #financialservices
#redress #litigation
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...The #regulator alleges the firm illicitly took £2.8 million as deposits, arranged $9 million of investments unlawfully and breached restrictions on financial promotion: reuters.com/business/finance… #redress #litigation #financialservices
