The purpose of this paper is to report and comment on Financial Services Compensation Scheme Ltd v. Abbey National Treasury Services plc.
The paper outlines the facts surrounding the case and comments on the decision.
The Court agreed with the FSCS's view and upheld its claim to legal advice privilege for both the questions and answers and the relevant narrative commentaries that appeared on the investor claim checklists.
This decision represents an interesting consequence of the rationalisation and assignment to the FSCS of private investors' claims for redress in the wake of firms' default triggering regulatory compensation payments.
Gray, J. (2008), "Financial services compensation scheme's claim for legal privilege upheld", Journal of Financial Regulation and Compliance, Vol. 16 No. 3, pp. 281-283. https://doi.org/10.1108/13581980810888895
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