Russell Adams v Options SIPP

[williaa68]

An interesting case (unbelievable that it took two years for the judgment to be published but that's another story):https://www.eversheds-sutherland.com/global/en/what/articles/index.page?ArticleID=en/Financial-services-and-dispute-investigation/Clarity_for_SIPP_providers

I don't have a dog in the fight but personally I am pleased to see the court confirm that (in effect) execution only means execution only. While some firms have clearly pushed the boundaries as to what it means (HL Wealth 50 etc) and I do think there must be some responsibility on SIPP providers to prevent outright fraud, its hard to impose a due diligence obligation on them if they aren't going to be paid for it....

[Mr Pointy]

Working link:
https://www.eversheds-sutherland.com/global/en/wha...

[williaa68]

Thank you

[Stay in Bed Instead]

I do like common sense judgments forcing the consequences of investors voluntary actions on them.