A group of investors in troubled overseas property sales agent Harlequin has claimed a first victory in its battle to receive compensation from advisers who 'facilitated' their investments.
The Harlequin Investor Group, which includes more than a thousand self invested personal pension (SIPP) investors and is backed by law firm Regulatoy Legal, had a complaint against an IFA upheld by the Financial Ombudsman Service (FOS) earlier this month. Though the adviser is understood to be appealing the ruling, if upheld again it could stand as a "test case" for other, pending actions against advisers related to SIPP investments in unregulated schemes, Regulatory Legal lawyer Gareth Fatchett said. The Harlequin Investor Group is pursuing claims of up to £200m against "no more than...
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