Berkeley Burke SIPP ruling risks 'ambulance-chaser chaos' - Embark

Last week the High Court rejected self-invested personal pension (SIPP) administrator Berkeley Burke's claim against a 2014 Financial Ombudsman Service (FOS) decision. The FOS ruled Berkeley Burke had to compensate a client after it failed to carry out appropriate due diligence on their investment, which was later found to be fraudulent. Berkeley Burke argued it had carried out the due diligence expected of SIPP providers at the time of the investment, and the FOS had placed undue responsibility on it. Justice Jacobs, however, found the FOS followed the guidelines set out by the Finan...