FCA Update

By June 18, 2020NEWS

Order from first Case Management Conference on 16 June

At this hearing, Mr Justice Butcher made an order relating to how the test case is to proceed, including that:

  • the case will be expedited (heard urgently) in accordance with the timetable above
  • the Financial Markets Test Case Scheme will apply
  • the second Case Management Conference and final hearing will be live-streamed (details below)

We will publish a copy of the court order and transcript for the hearing once they are available.

Link to live-stream future hearings

The court has agreed to live-stream the second Case Management Conference on 26 June and the final hearing starting on 20 July. The starting time for these hearings can be checked on the final court listing(link is external) after 4.30pm on the day before each hearing.

In order to view these hearings live:

Notice to non-parties in the test case

In accordance with the order of Mr Justice Butcher on 16 June, notice is given that any non-party wishing to make an application under paragraph 2.5 of Practice Direction 51M should make any such application by 5pm on 24 June 2020 on notice to all parties to the litigation, any such application to be returnable at the Second CMC.

View Practice Direction 51M(link is external), a part of the Civil Procedure Rules 1998. ‘Returnable at the Second CMC’ means that any such application will be heard at the second Case Management Conference on 26 June 2020.

Finalised Guidance and Feedback Statement published

We have published Finalised Guidance setting out our expectations for insurers and insurance intermediaries when handling claims and complaints for business interruption policies during the test case brought by the FCA.

We have also published a Feedback Statement summarising the feedback received on our draft guidance published on 1 June 2020.

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