Overview

In his much-awaited judgment, Mr Justice Ouseley has dismissed the Judicial Review challenge brought by the British Bankers' Association against the Financial Services Authority and the Financial Ombudsman Service relating to the regulatory standards applicable to the sale of payment protection insurance (PPI).

Mr Justice Ouseley's judgment has several significant implications not only for the handling of consumer complaints relating to past sales of PPI policies but also for the standards which firms must apply in the future when selling any regulated products.

In this briefing, Hogan Lovells looks at the background to the case and the basis of the challenge, as well as the key conclusions that can be taken from the ruling.

Click ‘View Briefing’ to read more.