Financial Ombudsman Service not bound by common law

In determining a complaint under the Financial Services and Markets Act 2000, the financial ombudsman's opinion as to what is fair and reasonable in all the circumstances of the case carries more weight than the common law.

Only when his decision is perverse or irrational can it and any determination made pursuant to it be liable to be set aside on conventional judicial review grounds. So confirmed the Court of Appeal in R (on the application of Heather Moor & Edgecomb Ltd) v Financial Ombudsman & Lodge.

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