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June 18, 2025
The anticipated Supreme Court judgment in Johnson v FirstRand Bank Limited, Wrench v FirstRand Bank Limited and Hopcroft & Another v Close Brothers Limited (“Johnson”), expected in July 2025, will address pivotal questions regarding broker and lender liability in motor finance commission cases. The appeals of Johnson & Others concern the disclosure of commission payments to car dealers and their disclosure to customers. The decision has the potential to significantly influence any future redress scheme, with the Financial Conduct Authority (FCA) expected to announce its position within six weeks of the ruling.
November 15, 2023
On 15 November 2023 the Supreme Court (SC) has handed down Judgment in Canada Square Operations Ltd v Potter [2023] UKSC 41. This Judgment is a landmark, pro-consumer decision which signals to financial services operators that the deliberate concealment of wrongdoing will not be tolerated by the Country’s highest court. In this article, we explain the issues, how the SC reached its decision and what it means practically going forwards.
November 14, 2023
You may have seen our earlier article on this topic in relation to the Court of Appeal decision in the case of Smith & Anor v Royal Bank of Scotland PLC. That decision was appealed and referred to the Supreme Court for determination and that decision has now been handed down.
November 3, 2022
Brokers receive commission from the energy companies for customer introductions, and these commissions are usually added onto a customer’s monthly bill – but customers are rarely, if ever, aware that this is the price of doing business with brokers.
November 3, 2022
New court ruling could mean consumers can have an extension to the time period for a PPI claim: the clock could now start from the date of discovery of a deliberate concealment of commission, as in this case.
November 2, 2022
Lenders beware: a fiduciary relationship is not required where there is undisclosed ‘secret’ commission. Appeals against Business Mortgage Finance 4 PLC and Commercial First Business Limited dismissed, lowering the bar on commission claims.