12 Dec 2019
The UK Supreme Court’s decision on the Quincecare duty of care owed by financial institutions to their customers and its implications to Hong Kong.
On 30 October 2019, the UK Supreme Court upheld the first successful claim in negligence for breach of the Quincecare duty of care owed by financial institutions to their customers. This duty has been recognised by the Hong Kong courts and the Supreme Court’s decision will be of interest to financial institutions based in Hong Kong.
This client alert discusses the Supreme Court’s decision and identifies practical tips to ensure that red flags are neither missed nor ignored by financial institutions.
This material is provided for general information only. It does not constitute legal or other professional advice.
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