Thu 30 May 2019
Guarantees and the purview doctrine - An unhelpful encroachment into commercial transactions
It has long been a principle of Scots law that a guarantor (or in proper Scottish legal parlance, a "cautioner") will be discharged from his or her liability under a guarantee (or a "cautionary obligation" in that same parlance) if the underlying contract or arrangement to which the guarantee relates is amended or altered in a material manner without the consent or knowledge of the guarantor.
Related Insights
Article
FCA Introduces Temporary Changes to Handling Rules for Motor Finance Complaints
On 11 January the Financial Conduct Authority (FCA) announced its latest Policy Statement (PS24/1). PS24/1 came without prior consultation and is intended to respond to the volume of customer complaints to motor finance firms regarding discretionary commission arrangements (DCAs) prior to their 2021 ban.
Article
The Financial Services and Markets Act 2023: PAR revocations
Traditionally the UK has been ahead of the EU when it comes to financial products. Almost 10 years ago moves to set common standards amongst Member States led to the Payment Accounts Directive (2014/92/EU) (PAD).
Article
The Banker's Duty of Confidentiality
The furore surrounding the closure of Nigel Farage's Coutts bank account escalated to the resignation of Dame Alison Rose as CEO of NatWest Group. The situation was able to get that far because a banking fundamental was missed.