This required the claimant to prove the counter-factual, that the same loss would not have been suffered if the advice had been correct, i.e. if the claimant had not exercised the break clause early and continued to hold the swaps.
The rules, which are set to be rolled out to advisers later this year, require senior managers within firms to have statements of responsibility to establish lines of accountability, while testiying the competence of more junior staff on a regular basis.
If a last-minute deal can be reached, or no deal does not result in chaos, then domestically focussed smaller companies are likely to be beneficiaries.
Colabella looks at data from 2004, before the ECB adopted quantitative easing policies, to 2016. He uses the “shadow interest
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