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Financial Services Disputes and RegulationAuthor: Herbert Smith Freehills Podcasts
A series of thought leading podcasts ranging on topics and sectors by Herbert Smith Freehills. For more information please visit www.herbertsmithfreehills.com Language: en Genres: Business, News, News Commentary Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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Banking Litigation Podcast EP51: Quincecare Special – March 2025
Episode 51
Tuesday, 11 March, 2025
In this SPECIAL EDITION of our banking litigation podcast, we consider a key risk area for financial institutions handling client payments – the so-called Quincecare duty of care. This episode is hosted by John Corrie, who is joined by Ceri Morgan and special guests Jenny Stainsby and Scott Warin.The English courts continue to grapple with payment processing claims brought by both victims of authorised push payment (APP) fraud and companies subject to an internal fraud by an authorised signatory who has gone rogue. While the seminal Supreme Court decision in Philipp v Barclays [2023] UKSC 25 recalibrated the payment processing duties owed by banks, court guidance is still needed on what is required to meet the requisite standard on a case-by-case basis, and claimants continue to explore novel causes of action. Alongside numerous civil claims working their way through the courts, the Payment Systems Regulator has introduced the UK's APP fraud reimbursement scheme. In our latest podcast, we explain the current state of payment processing claims in a post-Philipp v Barclays world, offering insights into this rapidly changing area of law.You can find links to our blog posts on the cases covered in this podcast below:Payment processing risks in a post-Philipp v Barclays worldFacing into the UK's APP Fraud Reimbursement RequirementThe Supreme Court's judgment in Philipp v Barclays: key takeaways for financial institutions executing customer paymentsHigh Court dismisses Quincecare duty claim giving guidance on the scope and nature of the dutySupreme Court upholds first successful claim for breach of the so-called "Quincecare" duty of care Court of Appeal judgment on scope and exclusion of 'Quincecare' duty of careLatest APP fraud claim against receiving PSP: High Court refuses to strike out claim for unjust enrichmentHigh Court considers novel APP fraud "retrieval duty" claim against both sending and receiving PSPsPlease subscribe to the podcast channel here to listen to our regular bite-sized broadcasts covering both litigation and regulatory developments for banks and other financial institutions.
