Ross FentemFrom: McMeel and Virgo On Financial Advice and Financial Products (3rd Edition)
Edited By: Gerard McMeel, John Virgo
This chapter considers the law on remedies for investor losses. It explains how the advice, recommendation, information, or opinion tendered by the financial adviser must be considered from three perspectives: that of the specific person, who is the object of the adviser's retainer; in respect of the specific purpose for which the advice was sought; and in reference to the specific transaction into which the individual enters in reliance on the advice given. It then discusses damages under the Financial Services and Markets Act 2000; compensation for specific produces, including protection policies, pension products, mortgage products, and investment products; incidental heads of claim; regulatory remedies; judicial review of decisions of the FCA, the FSCS manager, and the FSO.