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Part II Causes of Action, 7 Negligence

Gerard McMeel

From: McMeel and Virgo On Financial Advice and Financial Products (3rd Edition)

Edited By: Gerard McMeel, John Virgo

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 06 July 2022

Subject(s):
Financial Services and Markets Act 2000 — UK Financial Conduct Authority (FCA)

This chapter considers cases where the general principles of negligence play a role in establishing that the provider of financial advice or information is under a common law duty to take reasonable care and skill in respect of that activity. The seminal case establishing liability for negligent words (as opposed to deeds) was Hedley Byrne v Heller & Partners. More recently there has been considerable judicial vacillation over the appropriate test for establishing a duty of care in new situations. After some doubts, the principal test of assumption of responsibility has been rehabilitated. In addition, the three-stage approach and the incremental approach must be considered.

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