Clark v In Focus Asset Management & Tax Solutions Ltd

In a ruling of interest to banks and other financial advisers facing complaints at the Financial Ombudsman Service (FOS) or facing claims at court following an FOS decision, the Court of Appeal has allowed an appeal by a firm of financial advisers, In Focus Asset Management & Tax Solutions Ltd, against its former clients Mr and Mrs Barry Clark. The Clarks were awarded and paid compensation following an FOS decision, but then proceeded with a claim in the County Court against In Focus for what they believed was the remainder of their loss. The Court of Appeal held that the subsequent claim in the County Court was in essence the same as the FOS complaint and as such the common law doctrine of res judicata (‘a matter already judged’) applied — that is, the Clarks’ complaint could not proceed as court proceedings.

The case provides a measure of comfort to banks and other financial advisers that have already faced complaints at the FOS but are served with a separate claim form that contains the same facts and causes of action as those of the FOS complaint…

Click on the link below to read the rest of the Taylor Wessing briefing.

Sign in or Register to continue reading this article

Sign in


It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer


Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.


Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.


Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Taylor Wessing

View more briefings from Taylor Wessing

Analysis from The Lawyer

  • merger deal

    Corporate crunch time: who will triumph at The Lawyer Awards 2014?

    As the equity capital markets rocketed back into favour and global M&A saw at least a partial return to form, there have been some rich pickings for The Lawyer’s Corporate Team of the Year award shortlisted firms in 2014. 

  • singapore orchid

    Singapore: Cash course

    The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world

View more analysis from The Lawyer


5 New Street Square

Turnover (£m): 241.20
No. of lawyers: 860 (UK 200)
Jurisdiction: UK
No. of offices: 6
No. of qualified lawyers: 73 (International 50)
No. of partners: 29