Deutsche Bank Liable In Misselling Suit About Spread Ladder Swaps - Misselling Liability In Germany And England
Mondaq Business Briefing › Germany Law Articles in English (2011)
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Deutsche Bank Liable In Misselling Suit About Spread Ladder Swaps - Misselling Liability In Germany And England
Introduction
The financial crisis and ensuing losses suffered by counterparties to various structured product transactions has provoked an outbreak of "misselling" cases. A number of cases have been heard by the English Courts but proceedings have also been brought in jurisdictions across Europe, including Germany. This alert looks at the outcome of cases in Germany and England and the lessons that can be learnt from the differing trends in these jurisdictions. Germany - An overview It is a long-standing principle under German law that a bank, when approached by a customer about investment advice and when giving such advice, will be deemed to enter into a separate contract for advisory services with such customer. As a result, the bank is obliged to inf...See the full content of this document
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