Fairness is key in a securities lending agent's communication with clients

In AP-Fonden v Bank of New York Mellon SA/NV & Ors[1] the High Court considered the nature and extent of the duty of care owed by a securities lending agent when managing a client's portfolio.

The judgment, which is likely to have implications for the securities lending industry, underscores the need for securities lending agents to act fairly when communicating with their clients. For the full facts of the case and comment, please click here.

[1] [2013] EWHC 3127 (Comm)