James Ayliffe QC

Financial Services CV

James has wide-ranging experience in the financial services sector, including (among other things):

• perimeter issues;
• compliance issues;
• enforcement issues;
• investment advice (including misselling);
• investment management;
• banking;
• collective investment schemes;
• pensions;
• life assurance;
• with profits;
• insurance and banking business transfers;
• Financial Ombudsman Service;
• Financial Compensation Scheme.

He has particular expertise in relation to with profits matters, having acted on a number of major such matters starting with the House of Lords decision in Equitable Life in 2002.

He is currently recommended in The Legal 500 for financial services work.

Some representative cases include:-

• acting for the Policyholder Advocate appointed to represent the interests of policyholders of Commercial Union and Norwich Union (both now part of Aviva) in relation to reattribution of £5 billion inherited estate;
• advising Channel Islands financial regulator regarding issues relating to trading of overseas firms in the Channel Islands through use of serviced offices and other facilities;
• advising the Consumer Association (Which?) regarding issues relating to with profits business;
• acting for notorious market trader facing claim for recovery of £20m of AIM-listed company shares;
• advising "nationalised" bank regarding financial services issues arising from impact of collapse in its share price on staff incentive arrangements;
• acting for wealthy investor on a multi-million pound claim in respect of losses arising from investment in capital redemption contracts;
• advising ACD regarding potential exposure to claims from mismanagement of ICVCs;
• advising well-known UK investment management business regarding establishment of trust accounts to protect interests of customers pending sale of business;
• advising well-known life office regarding management of "blackmail" threats by disaffected appointed representative;
• acting for pension fund trustees on multi-million pound claim for mismanagement of with profits investment;
• acting for investors seeking to recover investments following the collapse of the Bahamas-based Imperial Consolidated Alpha Plus Fund;
• advising on claims arising from mis-selling of split capital investment trusts;
• acting for Equitable Life in high-profile litigation regarding "'guaranteed annuity rates" and advising several well-known life offices on wide-ranging reviews of their with profits businesses following the House of Lords decision in that litigation;
• acting for custodian trustee of property enterprise trust in successful defence of claims by disappointed investors.