Commission payments

Browne Jacobson offers expert guidance to businesses regarding the implications of the pending Supreme Court judgment in Johnson v FirstRand Bank. This decision is poised to affect the financial services and insurance markets significantly.

The ramifications cover multiple areas of law and regulation, including under the Companies Act 2006 and Financial Services and Markets Act 2000, as to directors’ duties, capital adequacy, operational resilience, solvent trading and the ‘fitness and propriety’ of firms and senior managers.

Key practical issues include:

• handling high levels of complaints and claims (e.g. under any FCA redress scheme) and;
• changes to business models. 

Firms could also face notification and other regulatory requirements, and issues under distribution, finance and insurance contracts.

How we can help

Our team collaborates closely with firms, their boards, accountants, and business consultants to help them navigate the new legal landscape effectively and maintain operational resilience. This approach ensures a comprehensive and detailed framework for addressing vital issues and allows us to identify, plan, and execute the most effective solutions.

Contact us