Introduction In July, the Financial Conduct Authority (“FCA”) is expected to introduce its new “Consumer Duty” to increase the standard of care that regulated financial firms provide to their retail customers. The FCA has said that it hopes that the new duty will bring about a “significant shift” in standards in the banking sector, aided…
On 15 June 2022, the Foskett Panel announced fundamental changes to its approach to the Re-Review of D&C losses. The key change is, unquestionably, the Panel’s decision to introduce a new, interim, “Victim Status Decision” (“VSD”) and give all individual customers the option to exit the Re-Review immediately, before any MTD, in exchange for a…