The intention behind the implementation of the Consumer Duty is commendable. However, as firms seek to comply with the new requirements, there is a real risk that it may drive unintended, negative consequences....more
Privy Council rules against extension of the Quincecare duty -
Does a bank owe a duty of care to a person who is the beneficial owner of funds held in the account of a customer of the bank and who has been defrauded by...more
5/31/2022
/ Beneficial Owner ,
Cybersecurity ,
Duty of Care ,
Economic Sanctions ,
Enforcement Actions ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Know Your Customers ,
Payment Systems ,
Privileged Communication ,
UK