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Interest Rate Hedging Products: Accepting and Rejecting Consequential Loss Offers under the FCA Review Scheme

Most people reading this blog will now know a bit about Interest Rate Hedging Products, so I do not intend to give any explanation about them here, but search this site or www.rateswapadvice.co.uk and you’ll find plenty of basic information. The FCA Review into past business sales of interest rate hedging products was formally announced in 2012 with a pilot...

Interest Rate Swap Litigation – the Limitation Time Bomb

With The FCA review now in full flow, and 96% of people getting confirmations that they have been missold, were the Banks and The FCA correct in saying you do not need a solicitor? No, and it is dangerous to try and deal with matters on your own. The reason is not: Because the banks cannot be trusted to reach the right conclusion That lawyers just trying to get...

Latest investment mis-selling scandal lands HSBC with £149M bill

Following the impressive third quarter result from banking giant HSBC, it was announced that the Bank have made further provision of £92 Million to compensate customers mis-sold PPI and £83 Million to for firms mis-sold interest rate swap hedging products. Interestingly, HSBC has set out £149 Million to pay out to an approximate 200,000 customers mis-sold...

Interest Rate Swap Success: “Tear up the product”

Josiah Hincks’ Litigation Partner, Steven Mather, has had yet another success story in the fight for Justice against the Big Banks – by getting the bank to admit it mis-sold a complex financial product and confirming they will tear up the contract. Rate Swap products, also known as Interest Rate Hedging Products, are complicated financial products sold by...

Interest Rate Swap Litigation Update June 2013

Interest Rate Swap Litigation Update I like to think that my firm, Josiah Hincks, is at the forefront of the Interest Rate Hedging Product (IHRP) litigation. I’ve got a dozen or so cases on at the minute, varying in size, banks, and progress. Some have not issued Court proceedings, some have and some I actually have Judgment on (because of the Banks’ default...