The FSA yesterday once again tried to block a retired IFA who is suing the regulator for harassment from taking his case to court.
Due to the complexities of the case a verdict was not delivered on the day and a decision is expected in the next month.
In August 2011, Money Marketing revealed John Calland was suing the FSA under the Protection from Harassment Act 1997, alleging the FSA, the Financial Services Compensation Scheme and the Financial Ombudsman Service worked together to unfairly progress loss assessments and solicit pension complaints from former clients.
Calland, who retired as principal of Calland Insurance and Mortgage Services in December 1997 and is now 73, has been involved in a 10-year battle with three authorities which has seen the FSCS reprimanded for bullying and the FOS reproached for soliciting complaints.
Calland’s QC Hugh Tomlinson alleges the contact and behaviour of the three bodies was “oppressive and unacceptable”.
The FSA’s QC Javan Herberg says the regulator was within its rights to contact Calland and that its actions did not constitute harassment.
The FSA submitted an application to strike out the case but Exeter county court rejected the application in January. AT the time, deputy district judge Karen Rea said Calland’s case is “better than merely arguable” and has “a real prospect of success”.
The regulator appealed against the strike-out decision and another hearing took place yesterday at Bow county court in east London, heard by Recorder Steynor.