Nick Blake

Regulatory & Disciplinary

Nick is experienced in advising upon and/or pursuing on a direct access basis, complaints to the Financial Ombudsman Service in respect of unsuitable advice or unfair treatment by financial advisers or pension providers, particularly in relation to investments in high risk or unregulated investments.

Cases include:

Mr F v Thomas Hall Partnership (THP)

Mr F succeeded in his complaint that THP gave him unsuitable advice to invest in the certain unregulated collective investment schemes (UCIS), which the Ombudsman agreed were unsuitable for him. The Ombudsman found that THP shouldn’t have promoted the these non-mainstream, specialist investments to Mr F, and that risk warnings signed by Mr F were not effective in that they were superficial and “generic” failing to disclose most of the main risks of each fund, other than their unregulated nature and resulting lack of FSCS protection. Mr F was compensated in a six figure sum.

The Estate of Ms R v MW

Ongoing complaint against a SIPP provider arising out of its acceptance of Ms R’s application for a SIPP to hold Store First Ltd store pods. Ms R claims that MW acted unfairly in accepting her request knowing that she was an unsophisticated investor, and when they had failed to carry out any due diligence on Stores First Ltd. The Estate is arguing that MW should compensate it in full and take ownership of the failed investments.

Nick has been appointed to and regularly sits on the Amateur Swimming Association’s Disciplinary and Dispute Resolution, and Appeals panels. He is an active member of the Professional Disciplinary and Regulatory Group within Chambers.