Investment Bond

Payment Service Providers have obligations beyond the Faster Payment Scheme Reimbursement Rules to prevent fraud and scams, and can be held liable for losses caused by their failure to intervene on suspicious transactions.

A financial adviser should not recommend encashing an existing investment before confirming eligibility for the replacement investment when foreseeable delays in underwriting are likely.

A financial adviser must deliver the ongoing advice service that a consumer has paid for, and must discuss with clients whether continuing the service remains in their best interests if engagement is persistently lacking.

A financial firm must communicate clearly about timeframes for processing surrender requests and should follow up promptly with third parties to avoid unreasonable delays in completing transactions.

A financial institution is not liable for losses resulting from an error in communication if the consumer would not have been in a better position had they received correct information.

Age alone is not a barrier to investing; suitability must be assessed by considering the investor's objectives, circumstances, and financial position in their entirety.

A lender is not liable under Section 75 of the Consumer Credit Act for opinions expressed by a supplier's sales representatives about potential investment appreciation, absent evidence they constituted false statements of fact.

A lender that has sold a credit agreement to a third party is not responsible for the fairness of the ongoing credit relationship under Section 140A of the Consumer Credit Act 1974.

Authorised Push Payment (APP) scams are covered under the Reimbursement Rules, but private civil disputes between consumers and payees are not, and fraud must be established on the balance of probabilities.

Reimbursement Rules for Authorised Push Payment scams only cover payments to relevant accounts, not to accounts in the consumer's own control or international accounts.

Payment Services Providers are not liable for authorized payments made by customers to relevant accounts under the Reimbursement Rules when the customer bears responsibility for the loss and earlier intervention would likely not have preven

A bank is only liable to reimburse a customer for losses from an Authorised Push Payment (APP) scam under the CRM Code if the customer was deceived into making a payment for a different purpose than the one they believed they were investing

A financial adviser is not at fault for failing to arrange an ISA contribution where the client has not provided explicit written instructions to do so before the tax year deadline.

A lender may rely on information supplied by an applicant in a loan application and conduct reasonable affordability checks using available sources such as credit reference checks, without being obliged to conduct extensive verification of

General information and guidance about responsible investing practices do not constitute financial advice that would make a firm responsible for subsequent trading losses.

A financial advisor must obtain sufficient information about a customer's financial situation, objectives, and risk profile to ensure recommendations are suitable, and must communicate advice clearly and fairly.

A business must rectify its original error by restoring the consumer to the position they would have been in had the error not occurred, using the date of the original transaction for valuation purposes.

A firm receiving trail commission for an investment is not obliged to provide ongoing advice or annual reviews in the absence of an explicit agreement to do so.