The WLR Daily case summaries
[2018] WLR (D) 669
Queen’s Bench Division
Regina (Berkeley Burke SIPP Administration Ltd) v Financial Ombudsman Service Limited
[2018] EWHC 2878 (Admin)
2018 Oct 10, 11, 12; 30
Jacobs J
Financial services— Ombudsman scheme— Jurisdiction— Claimant providing and administering self-invested personal pensions— Claimant accepting application by customer to invest pension funds in particular scheme— Scheme proving to be fraudulent— Ombudsman upholding complaint against claimant by customer— Whether ombudsman entitled to find claimant failing to act fairly and reasonably in dealings with customer by neglecting to investigate scheme prior to accepting investment— Whether impermissibly creating specific new duty of investigation by reference to general principles— Whether such duty conflicting with other specific rules—
Financial Services and Markets Act 2000 (c 8) (as amended by Financial Services Act 2012 (c 21), Sch 11, para 4 and Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013 (SI 2013/1881), art 10(7)), ss 228(2), 155
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FCA Handbook, Principles for Businesses, principles 2, 6, COB 11.2.19