In Clarks v In Focus [2014] EWCA Civ 118, Alistair Schaff QC led on a very important appeal to the Court of Appeal concerning claims for professional negligence against  a financial adviser which had been previously been referred to and determined in the complainants’ favour by the Financial Ombudsman Service (FOS). The Court of Appeal reversed Cranston J. and accepted the submission that the application of res judicata and merger principles prevent a complainant from bringing subsequent court proceedings for claims in excess of the maximum amount awardable under the FOS jurisdiction, in circumstances where the complainant has previously accepted a FOS determination for the maximum sum awardable and thereby rendered it final and binding under the Financial Services Act.

To view the judgment click here.