R v PIA ombudsman & PIA ex parte Burns‐Anderson Independent Network plc

Abstract

The Applicant in this case, The Burns Anderson Independent Network plc, was authorised to conduct investment business under the Financial Services Act 1986, by virtue of its membership of the Personal Investment Authority (PIA). An allegation had been made to the PIA ombudsman that the Applicant was involved in the operation of a holiday time share business known as the Villa Investment Plan. An action group of dissatisfied time share purchasers from the Villa Investment Plan was formed and lodged a complaint with the PIA ombudsman claiming compensation for losses amounting to £8m.

Citation

LJ, M., LJ, M., LJ, A. and Gray, J. (1997), "R v PIA ombudsman & PIA ex parte Burns‐Anderson Independent Network plc", Journal of Financial Regulation and Compliance, Vol. 5 No. 3, pp. 267-270. https://doi.org/10.1108/eb024935