Financial services

Since the entry into force of the Financial Services and Markets Act 2000, a wide range of financial services have come under the jurisdiction of a single regulator: the Financial Services Authority (FSA). The FSA now regulates banking, insurance and investment, including mortgages with effect from 31 October 2004 and general insurance business with effect from 14 January 2005. In line with this change, 3PB is able to provide advice about regulatory matters across the whole range of financial services.

Despite the regulatory changes, however, the private law governing banking and insurance remains subject to well-established common law rules. 3PB has specialists in banking law, able to deal with guarantees, mortgages, undue influence, cheques, mistaken payments, negligent advice and restitutionary claims, amongst other things.

There are also those with an expertise in insurance law: fraudulent claims, material non-disclosure, fire insurance, general insurance, legal expenses insurance, life insurance, fidelity insurance, professional indemnity and so on.

Finally, 3PB has members with an understanding of the investment markets, with expertise in framing claims arising out of negligent investment management or advice. For example, Paul O'Doherty spent five years in investment banking, as a corporate finance analyst, before coming to the Bar.