K&L Gates Triage: Reading the Fine Print: A Closer Look at the Proposed Regulation over Arbitration Clauses in Long-Term Care Resident Agreements
The UK Financial Conduct Authority (FCA) has published its third annual report of the Wider Implications Framework (WIF) for the 2024/25 period, covering 1 April 2024 to 31 March. The report summarises coordinated efforts and...more
The UK Financial Ombudsman Service (FOS) has updated its webpage confirming that the new charging structure, which includes charges for professional representatives referring cases, now applies. The changes have been made in...more
The U.K. Financial Conduct Authority has published a policy statement on further temporary changes to handling rules for motor finance complaints. The FCA has extended the time motor finance firms have to respond to motor...more
The U.K. Financial Conduct Authority and the Financial Ombudsman Service have launched a joint call for input on modernizing the redress system. The two main concerns of the FCA and the FOS are mass redress events and FCA-FOS...more
The U.K. Financial Ombudsman Service published a feedback statement to its consultation on its proposals to charge fees to claims management companies and other professional representatives. The statement summarizes the...more
Imagine this – a customer submits a payment instruction directing that all their life savings are transferred to a third-party account for the purposes of an investment. What do you do? While the scenario may appear...more
On 19 December 2023, the Payment Systems Regulator (PSR) published its final policy statement on fighting authorised push payment (APP) scams alongside three legal instruments that will give effect to the new mandatory...more
Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2020 - The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2020 (SI 2020/1274) have been published, together with an explanatory...more
One year on from Australia's Royal Commission on Banking - The report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (the Report), was published one year ago....more
From 1 April 2019 two significant changes take effect: - The jurisdiction of the FOS is extended to cover small and medium-sized enterprises, certain charities and trusts and personal guarantors; and - The FOS award...more
Following its consultation in late 2018, the Financial Conduct Authority (“FCA”) has published its new policy statement, which confirms that it will increase the limits on the awards that the Financial Ombudsman Service...more
On 24 October 2018, the FCA published a report on the progress of its consumer communications campaign on PPI mis-selling (the “CCC”) and its supervision of the manner in which firms are handling PPI complaints....more