S&B Consultancy Services Limited v Robert Bourn & Anor.

S&B Consultancy Services Limited v Robert Bourn & Anor.

The issue of whether the IAA's performance constitutes regulated activity under section 26(3) FSMA is novel and unsuitable for summary determination; factual investigation at trial is required to resolve the scope of 'performance' and its connection to regulated activities.

Parties
Claimant: S&B Consultancy Services Limited; Defendant: Robert Bourn; Defendant: Matthew Banks
Jurisdiction
England and Wales
Judgment Date
20 September 2022
Procedural Posture
Commercial Claim / Ruling on Application for Summary Judgment And/or Strike Out
Outcome
Application dismissed
Legal Topics
Regulated Activities, Enforceability of Agreements, Summary Judgment, Strike Out, Section 26 Financial Services and Markets Act 2000
Financial Services Law Contract Law Regulated Activities Enforceability of Agreements Summary Judgment Strike Out Section 26 Financial Services and Markets Act 2000

Case Brief

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Parties

S&B Consultancy Services Limited

Claimant

Robert Bourn

Defendant

Matthew Banks

Defendant

Procedural Posture

Commercial Claim / Ruling on Application for Summary Judgment And/or Strike Out

Legal Issues

  1. 1 Whether the Introductory Agency Agreement (IAA) is unenforceable under section 26 of FSMA due to alleged regulated activities by the Claimant
  2. 2 Interpretation of 'performance' under section 26(3) FSMA
  3. 3 Whether summary judgment or strike out is appropriate given the facts and legal uncertainty

Ratio Decidendi

The issue of whether the IAA's performance constitutes regulated activity under section 26(3) FSMA is novel and unsuitable for summary determination; factual investigation at trial is required to resolve the scope of 'performance' and its connection to regulated activities.

Court Disposition

Application dismissed

Orders

  • Claimant's application for summary judgment and/or strike out of paragraphs 43 to 54 of the Defence is dismissed.