Collective redress: the shape of things to come
Proposals for simplification of collective redress procedures in the financial services industry are almost undoubtedly in store, writes Laurence Lieberman, financial disputes partner at law firm Taylor Wessing.
On 8 April 2010, the Financial Services Bill, outlining the Government’s much-debated proposals in response to the financial crisis, gained Royal Assent. However, the Act differs significantly in one important area from the original Bill put forward by the Chancellor, notwithstanding his comments in a Treasury press release at the time that the Bill was ‘central to the Government’s reform agenda that seeks to empower consumers’.
Lawyers Laurence Lieberman
This article was first written for and published by Professional Adviser magazine on 13th May 2010.
