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Allen & Overy is an international legal practice and trusted counsel to the world’s leading companies, financial institutions and public sector organisations. In this series of podcasts, our lawyers share their perspectives on today’s most significant global legal, regulatory and commercial issues. Disclaimer: Podcasts are not legal advice. Laws may have changed since a podcast was recorded.
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Tuesday May 02, 2023
Tuesday May 02, 2023
In this podcast we discuss the Quincecare duty, first recognised over 30 years ago, discussing what the duty is and how it applies to payment service providers. We explain why payment service providers should be thinking about the duty and how it fits within their existing regulatory and legal obligations.
Topics covered in this podcast include:
- What the Quincecare duty is and why it was established
- How the Quincecare duty fits with a payment service provider’s duty to comply with authorised payment instructions from a customer
- How the courts approach the Quincecare duty and some recent litigation examples
- Which category of customers the Quincecare duty applies to
- Practical implications of the Quincecare duty: what issues should payment service providers should be thinking about, both contractually and in practice?
For further information and some of the most frequently asked questions about the Quincecare duty, read our most recent update.