Richard Hitchcock in win for individual clients in s.150 FSMA investment mis-selling case

Settlement was reached today of a substantial investment mis-selling claim involving the marketing of an unregulated Collective Investment Scheme (CIS).

Providing an overview, Richard said: “A likely inequality of resources is an understandable concern for individuals wishing to sue a defendant bank under section 150 of the Financial Services and Markets Act 2000. The early settlement of this case after Particulars of Claim were served demonstrates the value of intense early work on a claim to ensure it is made as strong as possible. This included obtaining expert evidence on the key issue of suitability and enabled a detailed, strongly pleaded claim which fully referenced the Conduct of Business Sourcebook to be presented to the bank from the outset. The settlement which resulted was reached before any of the costs of disclosure or trial preparation were incurred with the result that the clients’ risks were effectively managed without compromising the end result.”

News 15 Feb, 2013