FOS Awards – Acceptance is now a final resolution of the dispute In February 2014, the Court of Appeal made a ruling in Clark v Focus Asset Management & Tax Solutions Ltd. The effect is far reaching. From now on, a disgruntled customer of a financial institution who is granted an award by the FSO […]
Category: Legal Update
Green & Rowley vs RBS
Green and Rowley v Royal Bank of Scotland [2013] EWCA Civ 1197 In October 2013 the Court of Appeal made yet another finding in favour of a bank following a claim by a disgruntled customer for mis-selling. This time the claim focused on the sale of an interest rate swap as a form of hedge […]
Collateral Transformation
An article in the Financial Times last week (5 March 2013) discussed the latest idea in the derivatives market: the business of “collateral transformation”. As a reaction to the global financial collapse, regulators are introducing a clearing system for the majority of over-the-counter derivatives. They are requiring parties to run their derivatives trades through so-called […]