Chapter 12 THE UNITED KINGDOM: THE PRIMACY OF REGULATION IN PROTECTING THE RETAIL INVESTOR
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This chapter evaluates the protection offered by English law to retail investors who have been mis-sold financial products and considers the inter-relationship of regulation and legal remedies in the UK system. The UK’s Financial Conduct Authority stipulates a detailed set of rules governing the sale and management of investment products. Many of these rules are derived from EU legislation. Breach can result in regulatory action. Such action can result in fines and the payment of compensation to affected parties. In addition, private clients damaged by such breaches have a statutory tort action available to them and may be able to obtain redress by taking their case to the Financial Ombudsman Service. Common law remedies are a further possibility. The chapter presents a picture of a complicated system of inter-relating regulation and law which makes distinctions which are difficult to justify. It emphasizes that it is regulation which dominates the picture.

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Editor: Sandra Booysen
Monograph Book