- The recent change of government in the UK is unlikely to affect the overall importance of this public policy objective.
- The previous concept of “guided sales” originally encompassed advised and non-advised services. The term “simplified advice” was first used by the FSA in 2008 in place of the term “guided sales” to refer to advisory business models.
- See Art 19(4) of the Level 1 Directive.
- here will inevitably be crossover with other relevant regulatory requirements, notably the obligations of each firm under Principle 6 of the FSA's Principles for Businesses (Customers' interests), as supplemented by FSA guidance undertaken as part of its Treating Customers Fairly initiative.
- [2009] EWHC 3228 (Ch). This judgment was supplemented by a further judgment dated 20 January 2010.
- Before Lord Neuberger MR, Lady Justice Arden and Sir Mark Waller.
- Notably Art 13(8) of Directive 2004/39/EC of 21 April 2004 and Arts 16 and 18 of Commission Directive 2006/73/EC of 10 August 2006 (the MiFID implementing Directive).
- This is likely to give rise to significant evidential difficulties and, in view of the ephemeral nature of money, may prove to be impracticable in most cases.
- Re Global Trader Europe Limited (in liquidation) [2009] All ER (D) 297 (MAR).
Law and Financial Markets Review
Volume 4, 2010 - Issue 6