Fraud is a major threat to citizens, businesses and the government. The National Fraud Authority has estimated that the total annual losses from all fraud against all types of victims is now at least £73bn. The Fraud Advisory Panel has released its main recommendations today on “obtaining redress and improving outcomes for the victims of fraud”.
It was reported in the Sunday Telegraph on 21 April 2013 that the Financial Conduct Authority (FCA) (formerly known as the ‘Financial Services Authority’ (FSA)) is facing a claim for judicial review of its Redress Scheme (“the Review”) which was intended to provide redress to individuals and businesses that were mis-sold interest rate hedging products. The FCA took over the Review of interest rate hedging products on 1 April 2013, as a consequence of the Financial Services Act 2012.
25th April 2013
Negligence claims against professionals, such as financial advisors, solicitors, accountants and surveyors have been on the rise in recent years, and numbers are expected to continue to grow. This is due to an increased reliance on the advice of professionals (in both a personal and business context), claimants’ raised awareness of their legal rights, and the increasingly complex nature of work carried out. Further, in tough economic times, financial losses are often more evident.
24th April 2013
Lord McAlpine won the first stage of his libel battle against Sally Bercow, the Common’s speaker’s wife, last week. Mr Justice Tugenhadt ruled that the High Court should first decide whether Ms Bercow’s tweet to her 56,000 followers in November 2012 - "Why is Lord McAlpine trending? *innocent face*" – was capable of being defamatory. If Lord McAlpine is successful, the level of damages will be decided a subsequent hearing.
16th April 2013
Claims under the Inheritance (Provision for Family and Dependants) Act 1975 (“the Act”) are on the rise. According to a Law Commission Report presented to parliament last year, it was estimated that in the past three years more than 1000 claims under the Act have been formally commenced in court. At Kingsley Napley, we have noticed a particular increase claims under the Act by spouses and cohabitees, especially where one or more the parties have been married previously and/or they have children from an earlier relationship.