Investors Compensation Scheme Ltd v West Bromwich Building Society

These are set out in the earlier comment on this case when it arose at first instance and was considered in Vol. 5, No. 1, Journal of Financial Regulation and Compliance, p. 78. The investors concerned in this appeal had suffered losses through investment in Home Income Plans arranged by an independent financial adviser (IFA) and the West Bromwich Building Society (WBBS). The IFA was in default and so the Investors Compensation Scheme (ICS) had paid the investors compensation as a result thereof.