CCI putting FPI/ Utmost case together and taking on big UK insurers with Signature LLP (London)
Please see here and below the Daily Mail’s article regarding the case, published on the ThisisMoney section of the website. The article is heavily critical of the actions of the insurers, noting that they were involved in the promotion and of the funds despite their defence in the case. The damage caused to people’s lives by the insurers’ actions is also placed front and centre in the article.
The Mail has also included a quote from Bob Blackman MP, of the All-Party Parliamentary Group on Personal Banking and Fairer Financial Services, as well as noting that Mr Blackman said that the APPG would investigate the case.
Neither of the defendants provided a comment to the Mail for the story.
The impression given by the article is of two companies that have no real interest in their retail investors, and that they are advancing a dishonest defence to try and avoid liability for offering and marketing the funds. It is a good shot across the bows of the defendants, raising both public pressure by virtue of the article itself and political pressure, by the Mail making the APPG on Personal Banking and Fairer Financial Services aware of their actions. Download article on