Pointon York Limited

Pointon York Limited (“Pointon York”) entered into a creditors voluntary liquidation on 13 November 2018.

Since then the Financial Services Compensation Scheme (“FSCS”) has been investigating the practices of Pointon York, especially in relation to the acceptance of historic high-risk and non-standard investments into its SIPPs.

On 5 June 2020, The FSCS announced;

“Our investigations have focussed on the levels of due diligence carried out by Pointon York before allowing customers to make specific investments under their pensions. From this, we’ve determined that protected claims exist against Pointon York.”

It is important to stress that this announcement does not mean that a claim made against Pointon York will automatically succeed, however, it could potentially lead to customers who have suffered financial losses on pension investments made through a Pointon York SIPP to seek compensation using the claims procedure established by the FSCS.

It is possible that Pointon York, in some instances, failed to comply with their regulatory duties to exercise appropriate levels of due diligence on the investments that were made through the pension products they provided.

Due to the fact that SIPPs provided by Pointon York were often used to invest into high risk, unregulated funds and asset classes, there may be strong grounds for their clients to argue that there has been a failure to exercise this due diligence. It follows that those affected may be able to recover compensation for losses sustained through dealings with Pointon York as a result.

We are currently acting for clients who have suffered losses on pension investments with Pointon York. We have already been successful in many cases where SIPP operators have overseen high risk pension investments into foreign land investments, property developments, storage units, carbon credits, illiquid investments and other high risk investments. Our expertise in these types of claims in well documented given our involvement in many of the ground-breaking cases the FSCS has referred to.

If you are similarly affected then we would like to hear from you as we may be able to assist you in bringing a no-win, no-fee claim to recover your losses. Please call us on 0800 152 2620 for further advice, or fill in the form and one of our solicitors will call you back at a convenient time.

• We have over 15 years’ specialist experience in financial services professional negligence with a team of lawyers working exclusively on these cases.
• You only normally get one shot at making a pension or investment mis-selling claim.  If it is not done properly it can be rejected.  It is important you submit the right evidence, presented in the right way and emphasising important points.  Unlike claims submitted to the Ombudsman who only uphold up to 60% of pension and investment complaints*, if we take your case on and it is within time limits, we are successful in over 95% of our cases.
• We only operate on a “no win, no fee” basis.  If you are not successful you do not pay us a penny.
• We are leaders in pension and investment negligent law and are frequently asked by newspapers, TV and radio for commentary on this area of law.  We also give lectures on our specialist work to other lawyers.
• We are pursuing several ground-breaking group claims.  One such case was Adams v Options SIPP.  Hundreds of our clients had their pensions defrauded by unregulated introducers and advisers.  These advisers had disappeared with the money and the Ombudsman had rejected many complaints because these advisers were unregulated.  We pursued claims against the self-invested personal pension (SIPP) operators for failing to make proper checks on these introducers and other regulatory breaches.  After years of fighting, including losing the first court case, we persuaded the Court of Appeal these pension operators were liable.  Thousands of pensioners have been able to recover their lost pensions as a result.