The embattled SIPP provider has seen a new group action launched against it, amounting to 164 cases.
News came yesterday that SIPP provider, Berkeley Burke, had lost a key legal appeal in the world of self-invested personal pensions.
The firm were disputing the claim that it was responsible for failing to perform the required due diligence when accepting unregulated investments in 2014.
The SIPP provider lost its appeal, and is now facing 164 more claims in a group action that is currently before the High Court in Bristol.
Mis-sold SIPP claims experts, Smooth Commercial Law, is acting on behalf of 30 of these cases.
Scott Birchall, Partner at Smooth Commercial Law, commented on the ongoing scandal:
We are pleased to see that today’s ruling shows that Berkeley Burke failed to treat its clients fairly when investing their money into unregulated investments.
It is a significant step forward in ensuring the mis-selling of self-invested personal pensions is finally brought to an end.
We are acting in 30 cases similar to the ongoing case involving Mr Charlton. While each case is unique, it is clear to see a pattern of negligence occurring. Compensation is owed to those affected.
After a freedom of information request to the Financial Ombudsmen Service (FOS) during the summer, it was revealed that 270 complaints of a similar nature were placed on hold while awaiting the outcome of the High Court decision.
The case against Berkeley Burke in relation to a 2014 FOS ruling is still ongoing.
How can Smooth Law Commercial help?
At Smooth Commercial Law, our team of experts have extensive experience in dealing with a whole manner of claims that arise from negligent and/or unsuitable financial advice. We are seeing an increase in mis-sold SIPP claims, and have managed to secure compensation for many of our clients.
Should you have a claim, we can deal with your case and look to recover compensation for not just your loss of investment but also any adverse tax liabilities that you may now be facing as well.
You can contact our experienced team by calling the number at the top of this page or by emailing info@smooth-commercial-law.co.uk.