FSCS to review claims process after appeals court advice ruling

Carmen Reichman
clock

The Financial Services Compensation Scheme (FSCS) is to consider the implications for its claims process of a decision to reject its appeal against a High Court judgement which determined it failed to properly compensate an investor who lost money in foreign property.

The FSCS said it had done nothing wrong in handling a claim brought forward by Charmaine Emptage, a consumer who lost money in a foreign property deal advised by Berkeley Independent Advisers mortgage broker, Peter Sharratt. But the scheme said it would not challenge the decision by the appeals court that it did not compensate Emptage sufficiently. The FSCS did make an offer of compensation, but it did not include losses from the failure of the Spanish investment because it does not protect investments in property. However, Lord Justice Moore Bick, in the Court of Appeal, said the ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

New regulations and challenges in the EU and UK: What are advisers' next moves?

New regulations and challenges in the EU and UK: What are advisers' next moves?

Regulatory simplification vs expanding oversight

Bernadine Reese
clock 16 July 2026 • 4 min read
FCA investigates 11 potential Consumer Duty breaches including small IFA

FCA investigates 11 potential Consumer Duty breaches including small IFA

Publishes good practice review

Michael Nelson
clock 13 July 2026 • 4 min read
Advertising watchdog censures whisky cask and gold investment firm

Advertising watchdog censures whisky cask and gold investment firm

ASA upholds four complaints against Cap Group

Isabel Baxter
clock 08 July 2026 • 3 min read