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James Ayliffe QC

Call: 1987    QC: 2008

+44 (0)20 7306

Financial Services

James has wide experience of financial services matters, including

  • FSMA perimeter, compliance and enforcement issues;
  • advice and ‘misselling’ claims;
  • investment mismanagement claims;
  • issues relating to collective investment schemes;
  • life assurance;
  • with profits;
  • pensions (as to which, see further under ‘Pensions’ tab).

Some representative cases include:

  • advising financial services firm regarding authorisation requirements for SIPP trustees;
  • advising City firm regarding the proper interpretation and operation of FCA rules relating to ACSs;
  • advising FCA regarding issues arising in relation to one of its sourcebooks;
  • advising independent expert appointed in relation to the recent introduction by Royal London of a new form of with profits product (‘profit share accounts’);
  • advising trustees of employee benefit trusts regarding claims against investment advisers in relation to losses on failed Lehmans fund;
  • acting for Policyholder Advocate appointed to represent the interests of policyholders of Commercial Union and Norwich Union (both now part of Aviva) in relation to the reattribution of its £5bn inherited estate;
  • advising Channel Islands financial regulator regarding issues relating to trading of overseas firms through use of serviced offices and other facilities;
  • acting for Equitable Life in high-profile litigation regarding ’guaranteed annuity rates’ culminating with the House of Lords decision in Equitable Life v Hyman;
  • advising ‘nationalised’ bank regarding financial services issues arising from the impact of a collapse in its share price on staff incentive arrangements;
  • acting for wealthy investor on multi-million pound claim in respect of losses arising from investment in capital redemption contracts;
  • advising ACD regarding exposure to claims from mismanagement of ICVCs;
  • acting for pension fund trustees on multi-million pound claim for mismanagement of core fund 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 the mis-selling of split capital investment trusts;
  • acting for custodian trustee of Docklands property enterprise trust in a successful defence of claims by investors.