Moving on from Bolam – the High Court applies the Montgomery v Larnarkshire test in a financial professionals – Hailsham Chambers

Posted November 9th, 2016 in banking, duty of care, financial regulation, negligence, news by sally

‘The High Court has for the first time outside a medical context declined to apply the traditional Bolam v Friern Barnet Hospital Management Committee [1957] 1 WLR 582 test for the standard of care in favour of the new test in Montgomery v Larnarkshire Health Board [2015] AC 1430. Coutts, the private bank, was found to owe a duty to take reasonable care to ensure that their clients were aware of the risks of suggested investments. This is an important development in professional negligence law and one that may have far-reaching consequences.’

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Hailsham Chambers, 3rd November 2016