October 20, 2020

Volume X, Number 294

October 19, 2020

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Alexandra Associates to Appeal FCA’s Victory at Trial Over Unregulated Pensions Advice

Last week we reported on the FCA’s recent success at trial against pensions introducers Avacade and Alexandra Associates with the High Court deciding that Avacade and Alexandra had provided unregulated pensions advisory services to consumers.

It has now emerged that Alexandra and its directors have asked the Court of Appeal for permission to appeal the High Court’s decision on the basis that Alexandra was a mere introducer and should not be liable for investors’ losses.

Solicitors for two of Alexandra’s directors have suggested that there are 27 grounds on which the Deputy Judge, Andrew Johnson QC, made errors of law when reaching his judgment. It is likely that the Court of Appeal will consider the application for permission to appeal (which was orginally refused by the High Court) in the next few months.

In other developments, Alexandra applied for Andrew Johnson QC to recuse himself from further involvment in the case (FCA applications for injunctions and directions for a second trial focussing on investors’ losses) on the basis that the FCA is a client of Andrew Johnson QC’s firm, Herbert Smith Freehills. Since that application Andrew Johnson QC has agreed to remove himself from any future involvment in the case.

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About this Author

Garon Anthony Litigation Attorney Squire Patton Boggs Birmingham, UK
Partner

Garon is a partner in the Litigation Practice Group. He advises clients across the full range of commercial dispute issues, including cyber liability/data breach, professional negligence, banking, pensions and insurance.

Garon regularly acts for clients who are subject to investigations or disciplinary proceedings by national and international regulators, including most recently the Financial Conduct Authority, the Financial Reporting Council and the Dubai Financial Services Authority.

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Mariyam Harunah Financial Services Litigation Attorney Squire Patton Boggs Birmingham, UK
Associate

Mariyam regularly acts for a diverse client base, including, SMEs, FTSE 100 and 250 corporations, public bodies, developers, insurers and individuals.

Mariyam has experience advising on a wide range of matters of both a contractual and tortious nature, including breach of contract, breach of warranty, misrepresentation, defamation, professional negligence, debt recovery and insurance.

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