The Weekly Law Reports
[1994] 1 WLR 17
[QUEEN'S BENCH DIVISION]
REGINA v. INVESTORS COMPENSATION BOARD, Ex parte BOWDEN and Others
1993 Jan. 12,
13,
14;
Feb. 16
Feb. 16
Mann L.J. and Tuckey J.
Financial Services
— Compensation
— Statutory scheme
— Investors suffering losses as result of advice given by broker in contravention of Act
— Professional fees incurred in mitigating loss and expenditure made in reliance on soundness of investment
— Whether recoverable
— Whether compensation to be equal to defaulting broker's civil liability
— Assignment of rights as condition of receiving compensation
— Whether refusal to indemnify investors against costs of future action on behalf of the scheme reasonable
— Whether personal representatives able to make claims for compensation
—
Financial Services (Compensation of Investors) Rules 1990, r. 2.04.01