Quinn v IG Index Ltd

Quinn v IG Index Ltd

The defendant did not breach any relevant statutory duty under COBS or FSMA, and even if there was a breach, the claimant failed to prove that such breach caused his losses, as he would have incurred similar losses with other spread betting providers.

Parties
Claimant: Peter Quinn; Defendant: IG Index Limited
Jurisdiction
England and Wales
Judgment Date
12 October 2018
Procedural Posture
Civil / Final Judgment After Trial
Outcome
Claim dismissed
Legal Topics
Breach of Statutory Duty, Appropriateness Assessment, Client's Best Interests Rule, Causation, Spread Betting Regulation
Financial Services Law Contract Law Tort Law Breach of Statutory Duty Appropriateness Assessment Client's Best Interests Rule Causation Spread Betting Regulation

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 5 Authorities cited 8 Party arguments 2 Amounts and remedies 4
Sign in to unlock

Parties

Peter Quinn

Claimant

IG Index Limited

Defendant

Procedural Posture

Civil / Final Judgment After Trial

Legal Issues

  1. 1 Whether IG Index Limited breached statutory duties under FSMA s.138D(2) and COBS rules by failing to assess appropriateness and act in the claimant's best interests
  2. 2 Whether losses suffered by the claimant were caused by any breach of duty by the defendant

Ratio Decidendi

The defendant did not breach any relevant statutory duty under COBS or FSMA, and even if there was a breach, the claimant failed to prove that such breach caused his losses, as he would have incurred similar losses with other spread betting providers.

Court Disposition

Claim dismissed