Client Alert

| May 23, 2011

When a Principle Becomes Law: Why the Recent PPI Judgment Should be Heeded by all Regulated Entities and not just the Banks

A recent judgment concerning the mis-selling of payment protection insurance ("PPI") in the United Kingdom should be of interest to regulated entities outside the UK and as well as within. As set out in this client alert, not only does it make it more likely that the billions set aside by banks will soon be paid to consumers complaining about PPI, but it also is precedent for the Court's approach to the application of a regulator's general principles.

This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent. For further information on Dewey & LeBoeuf, please visit www.dl.com. +1 888 532 6383