Tag Archives: consumer protection

Comparing UK and Irish law: A special relationship?

By Prof Paula Giliker, Professor of Comparative Law (University of Bristol Law School) and former President of the British Association of Comparative Law.

The British Association of Comparative Law (BACL) held its annual seminar, jointly with the Irish Society of Comparative Law, at University College, Dublin on 5 September 2017. The joint seminar was chaired and organised by Professor Paula Giliker. To celebrate BACL’s first annual seminar in Ireland, the seminar reflected on the relationship between UK and Irish law in the fields of land law, banking regulation, language legislation and consumer law.  The seminar was sponsored by publishers, Intersentia.

The seminar sought to examine different features of the relationship between Irish and UK law: the tensions of the past, the similar problems faced by two common law jurisdictions in the light of a global banking crisis, linguistic diversity and demands for consumer law reform and the future, with one jurisdiction remaining within the European Union and the other deciding to leave.  Continue reading

A new duty of care for banks and other financial institutions? The Financial Services Consumer Panel’s proposal

By Dr Holly Powley, Lecturer in Law, and Prof Keith Stanton, Professor of Law (University of Bristol Law School).

© Chris Brown

The past few years have witnessed a debate in the field of banking and broader financial services law: should the law relating to the duty of care owed by financial services firms to their customers be reformed? The Financial Services Consumer Panel (FSCP) argues that the answer to this question is yes; the current law does not provide consumers with adequate levels of protection, and thus the law needs to be. The current regulatory regime requires firms to treat their customers fairly, however the FSCP believes that banks and other financial services firms should be held to a higher standard and for this reason have advanced reform proposals to address this issue.

The purpose of this blog post is to analyse the content of the reform proposals and assess the viability of any reform, in light of the existing legal regime. It will be argued that, as indicated by the Parliamentary Commission on Banking Standards (PCBS) and the Financial Conduct Authority (FCA), the proposal advanced by the FSCP is unlikely to improve the law in this area. Continue reading