Harlequin seeks to annul court deal, asks investors to reinvest compensation

Harlequin has claimed investors who won compensation because financial advice they received to back the high-risk unregulated scheme was deemed bad, are now contacting Harlequin to pledge that money back to the project. No rules prevent the practice. The compensation will have been paid for by the advisers deemed at fault via the Financial Ombudsman Service, potentially leading to higher professional indemnity premiums industry-wide, or by the advice sector via Financial Services Compensation Scheme (FSCS) levies. Re-investment may raise questions about the claims of investors who ...