Subjects:

Banking and Finance, Looseleaf Works

Contents:

2007: Annual Subscription

PART I

1. Regulatory Background

2. The Financial Services Industry and Products

3. The European Dimension

4. The FSMA 2000 Framework

PART II

5. Unenforceable Transactions Under the 2000 Act

6. Breach of Statutory Duty

7. The Contractual Retainer

8. Misrepresentation and the Disclosure Regime

9. Claims in Negligence

10. Claims in Equity

11. Intermediaries

12. The Financial Promotion Regime

13. Standards of Conduct: Introduction

14. Standards of Conduct in Investment Advice, Stockbroking and Portfolio Management: COBS

15. Standards of Conduct in General Insurance Business: ICOB

16. Standards of Conduct in Mortgage Lending and Advising: MCOB

17. Standards of Conduct in Banking and Lending: The Banking Code of Conduct

PART III: Investor Remedies

18. Damages

19. Accessing Damages - Procedural Framework

20. Proving Loss

21. Claim Presentation

PART IV: Defending Claims

22. Investigation of Claims

23. Defences

PART V

24. Financial Services and Solicitors

Materials

Financial Services and Markets Act 2000 (extracts)

The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (as amended)

The Financial Services and Markets Act 2000 (Financial Promotions) Order 2005 SI 2005/1592

The Financial Services and Markets Act 2000 (Rights of Action) Regulations 2001, SI 2001/2256 (as amended)

The Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001, SI 2001/1271, (as amended)

Sections of the Limitation Act 1980 (ss 2, 5, 9, 14a, 14b, 28, 32, 36)

Sample Pleadings

The new edition of Financial Advice and Financial Products now comes as a loose-leaf service. This comprehensive guide covers the legal and regulatory environment in which claims arising in the financial services context are brought and defended. Since 2001 legislative activity in the field of financial regulation has grown considerably and the rate of development in regulation and case law shows no sign of slowing.

This exciting new loose-leaf text considers the applicable regime including the regulatory framework and statutory claims under the Financial Services and Markets Act 2000, together with traditional 'professional negligence' claims based on contract and tort against financial advisers, brokers, other intermediaries and product providers. There are now two new chapters dedicated to the FSA's extension in regulatory powers to include the conduct of mortgage business (MCOB) and of general insurance business (ICOB) written by experts from Burges-Salmon Solicitors.

In addition, the authors look at the FSA's increasing focus on financial promotion, together with the new Financial Promotion Order 2005 and updated FSA guidance. The text incorporates recent case law (such as Beary v Pall Mall Investments, Seymour v Caroline Ockwell & Co) and the impact of more recent financial scandals, including the continuing fall-out of Equitable Life's collapse, endowment mortgage complaints and 'precipice bonds' or SCARPS. Development in the case law on limitation and causation, and the approach of the Financial Ombudsman Service (FOS) to cases within its jurisdiction are also considered.

• Now in loose-leaf format
• New chapters on conduct of business rules on mortgages (MCOB) and insurance (ICOB)
• Changes to financial promotion regime
• Two regular updates per year, this loose-leaf is an invaluable source of reference to all those in the field of financial services.
• Updates will operate on an annual subscription basis, with the first years updating included in the purchase price.

Release 1- due January 2008
The first update, due for publication in January 2008, will substantially update the text to reflect the UK's implementation of MiFID and comments on the new 'COBS' regime. Part VII on ‘ICOB’ gives an overview of the current FSA proposals for changes to the approach to regulation of the insurance mediation sector and to the rules, and Part VIII on ‘MCOB’ contains additional commentary on the distribution of equity release products.

Part X discusses the jurisdiction of the Financial Ombudsman Service to make directional awards; the scope for challenging the Ombudsman decision making processes by way of judicial review; and the application of the scheme to formerly authorized firms and firms which have undergone a change in partnership composition before N2.