United Kingdom

FCA v Exall

[2023] EWHC 1130 (Ch)

JurisdictionUnited Kingdom

CourtHigh Court of Justice, Chancery Division (Business and Property Courts) (Master McQuail)

Year2023

StatusBinding authority

Key Principle

On an application by the FCA for directions under section 382(3) FSMA 2000, the court may direct the distribution to qualifying investors of sums the FCA has properly received from enforcement of unauthorised investment activity, adopting a fair and proportionate method (per capita or pro rata, with thresholds) without requiring individual proof of loss, even where the sums were not the subject of a formal section 382(2) restitution order.

Area of Law

General

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