“We have ways of making you talk!”: do you deserve human rights?

The Human Rights Act 1998 came into force at the beginning of October. It has already had a major influence on the formulation of the Financial Services and Markets Act (FSMA) which, along with all other English law, will now have to be interpreted in accordance with the European Convention on Human Rights. In this article Philip Tebbatt of Clarke Willmott & Clarke considers the Act’s implications for financial services firms in the light of United Kingdom and European legal precedents.

The Human Rights Act 1998 (HRA) is now in force. It incorporates the European Convention on Human Rights (the Convention) directly into UK law. No longer will it be necessary to go to Strasbourg to enforce one’s rights, such as the right to a fair trial or the protection of one’s private life. The UK courts and other public authorities will be obliged to interpret any legislation in a manner consistent with Convention rights. How will this affect the IFA? Since the Act defines public bodies as, “a court or tribunal” and “any person certain of whose functions are functions of a public nature” [ section 6(3) ], it will undoubtedly colour the workings of the regulator.