The Weekly Law Reports
[1994] 3 WLR 1045
[COURT OF APPEAL]
REGINA v. INVESTORS COMPENSATION BOARD, Ex parte BOWDEN AND ANOTHER
1994 May 19,
20;
June 24
June 24
Balcombe and Rose L.JJ. and Hutchison 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
— Whether credit to be given for moneys received and expended
— Whether limit on professional fees recoverable lawful
—
Financial Services (Compensation of Investors) Rules 1990, r. 2.04