Partner Abdulali Jiwaji comments in Commercial Dispute Resolution (CDR) in relation to a recent Court of Appeal judgment which ruled that banks owe no duty of care in relation to the FCA’s recent Review into interest rate hedging products.
Abdul’s comments were published in CDR, 2 August 2017. Read the full article here.
“Dentons and Fountain Court Chambers score a notable win in achieving a key appellate ruling on interest rate swaps and their linkage to claims founded on regulatory reviews carried out by the Financial Conduct Authority…
…Abdulali Jiwaji, a partner at Signature Litigation, which has also litigated heavyweight banking claims against banks, including the RBS Rights Action Litigation, agrees with Beatson LJ’s reasoning:
“The decision confirms that the courts are wary of adding into the mix private rights of action which have not already been provided for in a comprehensive regulatory and statutory framework.”
“In this sense the decision is unsurprising, and consistent with the fact that other first instance decisions did not follow Suremime,””