MPs Mull Plan To Allow FCA To Make Banks Aid Customers
Law360, London (May 13, 2019, 4:34 PM BST) -- The Financial Conduct Authority should be given the power to force banks and insurers to act in the interests of their customers if the watchdog cannot prevent misconduct, an influential parliamentary committee said Monday, as it seeks to clamp down on misselling of financial products.
The House of Commons Treasury Committee said it would support a new “duty of care” requirement that would place a legal obligation on regulated lenders to act in the best interests of their customers. Finance companies should always offer the best products and services to customers, the cross-party panel said — there is currently no legal...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!
Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.