Highlights of our experience in Financial Services Disputes in the UK
- A large UK insurer on significant regulatory issues arising in its business and sales process. Our advice has helped the client to avoid regulatory action and a s166 skilled person requirement and enabled them to proceed with proposed remediation action with minimal regulatory interaction.
- A number of banks on Employees in connection with the global LIBOR and FX investigations and in the review of the sales of interest rate hedging products.
- Over 50 defendants on the high profile and multi-million pound litigation brought by the Financial Services Compensation Scheme against IFAs for alleged mis-selling following the collapse of Keydata. We assisted clients in dealing with the multiple strands of handling of complaints, defending FOS complaints, litigation and the subsequent FCA enforcement action.
- Two leading fund managers and asset management groups on FCA investigations into breaches of the client money rules. In one of these we succeeded in demonstrating to the FCA that the issues they had identified did not merit any form of regulatory action and the FCA discontinued the investigation.
- A mortgage lender on a number of material issues in respect of its compliance with FCA Principles, MCOB rules and Consumer Credit Act legislation. Our strategic advice in dealing with the FCA and handling a past business review ensured a very successful regulatory outcome.
- A large insurer on FCA enforcement proceedings over the sale of its insurance policies, governance arrangements and systems and controls including responding to an extensive s166 skilled person report.
- A deposit taker on two separate FCA investigations and enforcement actions brought in connection with its financial promotions and mortgage arrears handling.
- The handling of what the regulator described as its largest ever contested application for authorisation. We assisted the applicant firm to prepare evidence of its target market and to satisfy the regulator that it had a sound business model and capital base. We enabled it to persuade the regulator and it is now successfully trading.
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Financial Services Disputes
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