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Ombudsman Poised To Take Consumer Duty Power From FCA

By Alex Davidson

Pending legislative reforms to the Financial Ombudsman Service could hand the dispute-arbitrator power to assess whether businesses have complied with the consumer duty and other broad rules set by the Financial Conduct Authority, regulatory lawyers say.


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Top Stories
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    By William Janes

    A London court ruled Friday that the former chief executive of British aerospace manufacturer Gardner plotted to shoot down a £36 million ($48 million) Chinese financing deal in a bid to avoid being pushed out of the business.

  • MFS Faces FCA Probe After Collapse With £1B Debts

    By Alex Davidson

    The City watchdog said Friday that it has launched an enforcement investigation into Market Financial Solutions Ltd., a U.K. provider of property loans that collapsed in February with debts of more than £1 billion ($1.3billion).  

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    By Joel Poultney

    The House of Lords has voted to remove a controversial measure from forthcoming pensions legislation mandating that retirement plans commit to certain investments, a step criticized as government overreach by the political opposition and the financial sector.

  • Gov't Creates More Questions With Latest Take On AI And IP

    By Alex Baldwin

    Tech companies and creatives alike have more doubt than ever about the legal framework for artificial intelligence and copyright, following a much-anticipated report on the topic from the government that kicks pressing issues down the road, experts say.

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    Travers Smith's managing partner has his eye on using artificial intelligence to drive growth for the U.K. firm in a market where an increasing number of players are turning to transatlantic mergers and private investment to fuel expansion.

  • Critical Literary Editions Can Qualify For Copyright Protection

    By Hanna Vioque

    A European court ruled Thursday that a critical edition containing scholarly notes and commentary on an existing copyrighted work can also qualify for protection under European Union law if it is original and more than just a mere idea. 

  • Clarks, Trek Breached 25-Year-Old Branding Agreement

    By Jamie Lennox

    A London court ruled Thursday that British shoemaker Clarks and U.S. bike retailer Trek both breached a 25-year-old brand coexistence agreement relating to the use of their respective "Trek" trademarks.

  • Ex-Battersea Power Station Chief Sues Over Whistleblowing

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    The former chief executive of Battersea Power Station is suing the Malaysian company that redeveloped the decommissioned site and four executives for allegedly firing him after he blew the whistle on an inflated balance sheet, his lawyers said Thursday.  

  • Fair Work Agency Leaders Eye 'Low-Profile' Launch

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    The leaders of the U.K.'s new labor regulator asked stakeholders on Thursday for patience ahead of the agency's "low-profile" launch in just under three weeks.

  • Comedian Appeals Libel Ruling Over Antisemitism Claim

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    A standup comedian told an appeals court on Thursday that a lower court had wrongly determined the meaning of a West End theater's allegedly defamatory press statement, which claimed he had verbally abused Jewish audience members after one of his shows.

  • White & Case Eyes $5B By 2028 Despite Market Volatility

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    White & Case said Thursday that it is on track to hit its goal of $5 billion in revenue for 2028 despite volatility in critical markets in the Middle East, as the London office grew to post $584 million for 2025.

  • Greensill Can't Stop Disqualification Case Over Unfair Probe

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    Lex Greensill failed Wednesday to strike out U.K. government proceedings to disqualify him as a company director, as a London court ruled that a full trial is needed to assess the fairness of the investigation running up to the case.

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From The Courtroom

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  • Orrick Fights To Ax Carlyle Investment Deal Negligence Case
  • Mirror Group Trims Time-Barred Phone Hacking Claims
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Expert Analysis

  • Pasquale Tammaro
    How EU Reforms May Affect Copyright, AI Balance
    The European Parliament’s recently proposed resolution calling on the European Commission to address the intersection between copyri... (read more)
  • Gregg Beechey
    FCA's Investment Regime May Prove A Double-Edged Sword
    The Financial Conduct Authority’s final rules on consumer composite investments intend to support retail investors in making more in... (read more)
  • Sebastian Barling
    How FCA's Client Reforms May Boost Investment Access
    The Financial Conduct Authority’s recent proposals to reform the professional client categorization regime and simplify conflicts of... (read more)
  • Kate McKenna
    Irish Consumer Law Proposals Expose Concerns Over Privacy
    The Irish government’s recent proposals to amend and clarify competition and consumer law would allow new investigative powers and g... (read more)
  • Daniel Natoff
    Digital Assets Act Allows Courts To Cater For New Tech
    The recently enforced Property (Digital Assets etc) Act confirms in law that digital assets can be recognized as personal property, ... (read more)
  • Read More Expert Analysis

 
 
 

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