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1.
Common causes of action
What are the most common causes of action brought against banks and other financial services providers by their customers?To read more
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2.
Non-contractual duties
In claims for the misselling of financial products, what types of non-contractual duties have been recognised by the court? In particular, is there scope to plead that duties owed by financial institutions to the relevant regulator in your jurisdiction are also owed directly by a financial institution to its customers?To read more
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3.
Statutory liability regime
In claims for untrue or misleading statements or omissions in prospectuses, listing particulars and periodic financial disclosures, is there a statutory liability regime?To read more
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4.
Duty of good faith
Is there an implied duty of good faith in contracts concluded between financial institutions and their customers? What is the effect of this duty on financial services litigation?To read more
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5.
Fiduciary duties
In what circumstances will a financial institution owe fiduciary duties to its customers? What is the effect of such duties on financial services litigation?To read more
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6.
Master agreements
How are standard form master agreements for particular financial transactions treated?To read more
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7.
Limiting liability
Can a financial institution limit or exclude its liability? What statutory protections exist to protect the interests of consumers and private parties?To read more
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8.
Freedom to contract
What other restrictions apply to the freedom of financial institutions to contract?To read more
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9.
Litigation remedies
What remedies are available in financial services litigation?To read more
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10.
Limitation defences
Have any particular issues arisen in financial services cases in your jurisdiction in relation to limitation defences?To read more
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11.
Specialist courts
Do you have a specialist court or other arrangements for the hearing of financial services disputes in your jurisdiction? Are there specialist judges for financial cases?To read more
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12.
Procedural rules
Do any specific procedural rules apply to financial services litigation?To read more
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13.
Arbitration
May parties agree to submit financial services disputes to arbitration?To read more
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14.
Out-of-court settlements
Must parties initially seek to settle out of court or refer financial services disputes for alternative dispute resolution?To read more
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15.
Pre-action considerations
Are there any pre-action considerations specific to financial services litigation that the parties should take into account in your jurisdiction?To read more
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16.
Unilateral jurisdiction clauses
Does your jurisdiction recognise unilateral jurisdiction clauses?To read more
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17.
Disclosure obligations
What are the general disclosure obligations for litigants in your jurisdiction? Are banking secrecy, blocking statute or similar regimes applied in your jurisdiction? How does this affect financial services litigation?To read more
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18.
Protecting confidentiality
Must financial institutions disclose confidential client documents during court proceedings? What procedural devices can be used to protect such documents?To read more
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19.
Disclosure of personal data
May private parties request disclosure of personal data held by financial services institutions?To read more
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20.
Data protection
What data governance issues are of particular importance to financial disputes in your jurisdiction? What case management techniques have evolved to deal with data issues?To read more
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21.
Authority powers
What powers do regulatory authorities have to bring court proceedings in your jurisdiction? In particular, what remedies may they seek?To read more
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22.
Disclosure restrictions on communications
Are communications between financial institutions and regulators and other regulatory materials subject to any disclosure restrictions or claims of privilege?To read more
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23.
Private claims
May private parties bring court proceedings against financial institutions directly for breaches of regulations?To read more
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24.
In a claim by a private party against a financial institution, must the institution disclose complaints made against it by other private parties?To read more
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25.
Enforcement
Where a financial institution has agreed with a regulator to conduct a business review or redress exercise, may private parties directly enforce the terms of that review or exercise?To read more
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26.
Changes to the landscape
Have changes to the regulatory landscape following the financial crisis impacted financial services litigation?To read more
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27.
Complaints procedure
Is there an independent complaints procedure that customers can use to complain about financial services firms without bringing court claims?To read more
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28.
Recovery of assets
Is there an extrajudicial process for private individuals to recover lost assets from insolvent financial services firms? What is the limit of compensation that can be awarded without bringing court claims?To read more
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Updates and trends
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