The Court of Appeal has handed down judgment in Green & Rowley v Royal Bank of Scotland [2013] EWCA 1197. Andrew Mitchell QC acted successfully for the Bank at trial and in the Court of Appeal, in what remains the first and only retail ‘interest rate hedging’ mis-selling case so far taken to trial. The Court of Appeal has emphasised the fundamental difference between a bank advising its customers, on the one hand, and selling its products on the other, and dismissed an attempt to use the common law as an independent basis to sue a bank for breach of its regulatory duties under the Conduct of Business Rules/FSMA section 150.