Court of Appeal rules on solicitor's liability to make redress to investors

To report on the appeal by the defendants – a firm of sollcitors – against the proceedings taken by the Financial Services Authority.

Outlines the facts and explains the decision.

Finds that this decision serves to illustrate how difficult and fine‐turned a task it is to achieve in law effective yet fair transition between one complex regulatory regime with another that is not precisely identical in terms of its intended effects and application.

Shows a reason why the level of enthusiasm for much more radical substantive legislative change in the FSMA 2000 framework is relatively muted on the part of Government, regulator and industry alike.