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Carey Pensions to pay compensation after split court ruling

‘UK regulated firms will need to consider implications of dealing with unregulated third-parties’ The court of appeal has delivered a blow to Carey Pensions after a judge ordered the firm to compensate one of its former clients. The Adams v Carey Case has been ongoing since 2018. The client sued the pension company after experiencing losses in investments made through his Sipp. Adams was introduced to Carey by an unregulated introducer and agreed to transfer funds from an existing pension i...
United Kingdom Christine Hallett Alan Kentish Tim Hampson Adamsv Carey Supreme Court

Landmark court ruling turns client losses back on Sipp provider

Landmark court ruling turns client losses back on Sipp provider By Michael Klimes 1 st April 2021 12:36 pm The Court of Appeal has overturned a landmark judgment, ruling that a Sipp provider was in fact responsible for their ex-client’s losses. The judgment marks a watershed over how much responsibility a Sipp provider has to vet unregulated investments. It also brings to a conclusion several years of legal wrangling between Russell Adams and his old Sipp provider ...
United Kingdom Christine Hallett Justice Newey Justice Andrews Tim Hampson Tobias Haynes

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