This book covers the legal and regulatory environment in which claims concerning sales of and advice on financial products for individuals and businesses are brought and defended. This edition has been updated to include an explanation of the impact of the twin peaks regulation under the Financial Services Act 2012. It also analyses the role of the Financial Conduct Authority and considers its activities to date. The book covers both statutory claims and traditional professional negligence claims based on contract and tort against financial advisers, brokers, other intermediaries, and product providers. Also included is a new chapter on consumer credit, considering the transfer of responsibility for the consumer credit regime from the Office of Fair Trading to the Financial Conduct Authority.