header-logo header-logo

Financial Ombudsman acted irrationally

The High Court has handed down detailed guidance for the first time on the correct approach in law to the Financial Ombudsman’s powers to reopen complaints.

In R (Greg Moniak) v Financial Ombudsman Service [2023] EWHC 333 (Admin), the claimant was the victim of fraud, which resulted in his life savings being emptied from his bank account. The fraudsters were convicted and sentenced at the Old Bailey in 2018.

Moniak, unrepresented, brought a complaint to the Ombudsman against his bank, Barclays, for failing to act on alleged red flags. The Ombudsman rejected this, relying partly on a note provided by Barclays on sentencing remarks made by the judge. Moniak then obtained a transcript of the sentencing and summing up, which contradicted Barclays’ note. The Ombudsman also rejected this as not ‘material new evidence’.

However, Moniak, represented pro bono by James MacDonald KC of One Essex Court, succeeded at judicial review. Deputy High Court Judge Obi held the transcripts were material and the Ombudsman acted irrationally.

MOVERS & SHAKERS

Gibson Dunn—London partner promotions

Gibson Dunn—London partner promotions

Firm grows international bench with expanded UK partner class

Shakespeare Martineau—six appointments

Shakespeare Martineau—six appointments

Firm makes major statement in the capital with strategic growth at The Shard

Myers & Co—Jess Latham

Myers & Co—Jess Latham

Residential conveyancing team expands with solicitor hire

NEWS
One in five in-house lawyers suffer ‘high’ or ‘severe’ work-related stress, according to a report by global legal body, the Association of Corporate Counsel (ACC)
The Legal Ombudsman’s (LeO’s) plea for a budget increase has been rejected by the Law Society and accepted only ‘with reluctance’ by conveyancers
Overcrowded prisons, mental health hospitals and immigration centres are failing to meet international and domestic human rights standards, the National Preventive Mechanism (NPM) has warned
Two speedier and more streamlined qualification routes have been launched for probate and conveyancing professionals
Workplace stress was a contributing factor in almost one in eight cases before the employment tribunal last year, indicating its endemic grip on the UK workplace
back-to-top-scroll