Berkeley Burke sipp claims - court case latest

Berkeley Burke v FOS Legal Case Latest

The FOS is currently arguing that Berkeley Burke failed in its due diligence by accepting unregulated assets within its SIPP  

It was highlighted that the 2009 FSA (Financial Services Authority) thematic review that looks at ‘treating customers fairly’, requires the calculation of benefit crystallisation events, annual evaluation of assets and refraining proof of title of clients’ investments.

The lawyer argued that Berkeley Burke ‘was aware in 2009 that this was an important thing. So investing in foreign jurisdiction is overreaching of due diligence.’

"Breach of 2009 FSA Thematic review"

 

The lawyer argued that Berkeley Burke ‘was aware in 2009 that this was an important thing. So investing in foreign jurisdiction is overreaching of due diligence.’

‘There was no investigation of title [of the investments], let alone proof of title,’ he said.

As a result, the provider is guilty for its administrative failings in the area and not providing the established and required due diligence. (Citywire 12/10/2018)

Have You Lost Money?

Many clients that we represent have lost substantial sums via investments that are now valued as worthless.

Many client appear to have not realised that the investments that they were placed into were relatively high risk and that they could lose money within them.


 If you have been affected it's time to get in touch - whether you received advice or not at the time.


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