What is a financial collective action?
Many financial products and instruments have been mis-sold over the years; either because they were inappropriate to the customer or because they failed to comply with financial regulations. If you or your business has been mis-sold any financial products - from bonds to investments, interest rate swaps to finance guarantee loans – you may be able to seek redress and compensation through collective action.
All you need to know about collective actions
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Financial collective actions explained
There have been many financial mis-selling scandals over the years, and they continue to arise, often causing serious damage to both businesses and individuals.
That’s why we’re here to act for individuals and organisations that have been mis-sold a wide range of inappropriate or illegal financial products and instruments.
These include a wide range of investments, pensions and mortgages; not to mention products such as the Interest Rate Swaps that have led to the demise of many previously healthy companies.
It’s quite rare for individual cases of mis-selling to arise, which means that where serious misconduct has occurred, there will often be many people or organisations in the same situation as you.
When this happens, we often deal with compensation claims as . These enable every member of the group to benefit from the reduced risk and increased financial resources that come from having strength in numbers.
Group collective actions are also widely considered to enjoy more efficient legal processes than individual claims, which can have the effect of maximising any compensation you might receive.
How do we approach financial claims?
The consequences of being mis-sold financial products can be devastating for individuals, families and small businesses. This is especially the case if poor advice has resulted in the transfer of significant funds into investments that either significantly underperform or are so high risk that they ultimately fail.
Our approach to these cases will sometimes be to recover losses via traditional litigation. However, given the regulatory landscape in the financial sector, we’ll also seek to manage cases more cost-effectively through direct negotiation and regulator-approved redress schemes.
If you would like to talk about joining a collective action or seeking a group litigation order with regards to mis-selling of financial products or services, talk to one of our experienced financial mis-selling solicitors today.
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