Friday 13 March 2015
UK: England and Wales: credit broker liable for commission received without clients' informed consent
The Court of Appeal gave judgment earlier this week in McWilliam v Norton Finance (UK) Ltd (t/a Norton Finance in Liquidation) [2015] EWCA Civ 186 and held that the relationship between a credit broker and its consumer clients was fiduciary in character and that, as such, the broker was liable to account for commission received without the clients' informed consent.
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