Wragge Lawrence Graham & Co

UK 200 2013 position: 25

Accountability — April 2014: when can you bring a court claim that has already been the subject of a decision by the FOS?

When can you bring a court claim that has already been the subject of a decision by the Financial Ombudsman Service (FOS)?

According to the Court of Appeal decision in Clark v In Focus Asset Management [2014] EWCA Civ 118, only where the claim arises out of a completely different set of facts or where the complainant has rejected the FOS decision. No longer are financial services firms and their insurers facing ‘double jeopardy’ in relation to claims that have already been determined by the FOS.

The FOS determines complaints by consumers and small businesses against financial services firms up to a value of £150,000. Once a final decision has been given by the FOS, which is accepted by the complainant, that decision is binding upon the firm…

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Analysis from The Lawyer

  • Paul Wilson

    Regional: attempted merger

    Alliances, failed and successful, are the story of the year outside London

  • Belinda Bradberry

    Interior designs

    Polish up your retention policy - private practice lawyers are increasingly eyeing in-house roles

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Overview

55 Colmore Row
Birmingham
B3 2AS
UK
http://www.wragge-law.com/

Turnover (£m): 120.50
No. of Lawyers: 458