Without in-depth product knowledge and experience, it may be difficult to assess whether or not a business has a credible claim, and, if so, what the quantum of that claim should be and the technical strengths and weakness of a case. In addition, where a bank offers an alternative derivative, it is important that independent advice is sought before entering into a binding, and potentially very expensive, contract.
It may be difficult to know whether a business should contest or settle a claim that has been made against it. A bank has deep expertise in derivatives and a client needs to be fully, independently and impartially informed as to the implications of derivative-based disputes.
It is vitally important that an independent valuation is obtained from derivatives experts of the relevant assets or transactions on the issues under consideration from someone who has had first-hand experience of dealing with such assets, transactions and issues in an investment banking context.
Vedanta Hedging is the UK’s leading expert witness in derivative disputes. Our professional analysis has successfully helped hundreds of clients to renegotiate their existing hedging facilities, where the banks have been found to have fallen short of the FCA’s regulatory guidelines. This includes interest rate hedging disputes as well as FX currency hedging disputes.
Our consultants are experienced in the procedural requirements of litigation and can act on an advisory or formal CPR 35 basis.
Vedanta Hedging is fully authorised by the FCA, and understands the sales processes and conventions, as well as the advice that banks should be providing in order to comply with FCA rules. Banks face a delicate balancing act between increasing the profits they generate from selling derivatives, and determining the appropriateness of derivatives for the client.
Typical examples where Vedanta Hedging has experienced problems with businesses’ hedging include:
The FCA Conduct of Business Sourcebook (COBS) rules contain guidance and rules that Banks should abide by when providing hedging to businesses.
“Abhishek has provided a first class service in all respects. Never too busy to be approachable and never too technical to be misunderstood. His integrity is matched by his ability and long may he continue and extend his crusades.” – Aaron Gershfield, Transview
“In the world of swaps, Abhishek has profound wisdom. This has come from immersion in the realities of the recent interest rate hedge mis-selling fiasco. Abhishek understands the perspectives of the various parties involved; the banks, regulators, lawyers and the SME’s who bought swaps. His advice is consistently insightful, relevant and effective.” – Mark Bertolini, Blue Spark Holdings Ltd
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