Peter is known for his extensive experience of misselling claims and other matters relating to the sale and distribution of financial products. In recent years, he has appeared perhaps more often than any other member of the Bar at hearings concerning a claimant’s date of knowledge for limitation purposes in the context of financial advice (including in the Court of Appeal in the leading recent authority on the subject).
Background in investment management
Peter began his career at a leading City investment bank as one of a team of three advising two Guernsey unit trusts on investment in commodities and natural resource shares worldwide. The trusts invested in hard and soft commodities on markets including the London Bullion Market, the London Metal Exchange, the London Commodity Exchange and the Chicago Board of Trade. The team also advised private clients on investment in gold and precious metals shares and managed a UK authorised unit trust in the oil and gas sector.
Peter then joined the bank’s Institutional Funds Department where he managed UK equity and fixed interest portfolios on behalf of pension funds, charities, two quoted investment trusts and an authorised unit trust in the income sector. He also advised building societies and local authorities on their holdings of short-term money market instruments.
During his time in the City, Peter completed the London Business School’s Investment Management Programme and was awarded the Certified Diploma in Accounting and Finance by the Association of Chartered Certified Accountants.
On starting in practice at the Bar, Peter joined the set of chambers at 11 Old Square which was often referred to as “the building society set” and which later merged to form Radcliffe Chambers. From the beginning, a significant proportion of Peter’s work consisted of litigation concerning the enforcement of mortgages and bank guarantees.
In recent years, Peter has been instructed in over a hundred misselling claims. These claims have concerned interest rate hedging products (including issues of consequential loss under the FCA’s IRHP Review), collective investment schemes (both onshore and offshore and often involving geared property investments), investment bonds, structured deposits and other structured products, mortgages, pension transfers and a variety of esoteric, anomalous and sometimes fraudulent products (often purchased through the medium of a SIPP).
Issues of principle arising in claims in which Peter has acted include:
Matters in which Peter has been instructed include:
Day Trader Sues After Making €10 Million on ‘Dummy’ Trades (The Wall Street Journal, 21 June 2018)
A CPD revolution (Counsel magazine, September 2016)
Redress due to insolvent companies: set-off and floating charges (2018) 1 JIBFL 16 (Butterworths Journal of International Banking and Financial Law)
Consequential loss exclusions in financial misselling claims (2017) 5 JIBFL 277 (Butterworths Journal of International Banking and Financial Law)
Commercial Bar Association (COMBAR) Brexit Report (Financial Services Sub-Group) (24 January 2017) (contributor)
Can ‘active cash’ really beat the Stock Market? (19 June 2016)
Consumer Credit: a timetable for reform (2006) 124LAW (4) 10 (124 Law Ltd)
Seminars and webinars
FORTHCOMING 13 September 2018 (LexisNexis Webinars). Collective investment schemes (co-presenter)
12 October 2017 (Chancery Bar Association Gibraltar Conference). Gibraltar & Brexit: The funds and investment sectors
14 March 2017 (COMBAR seminar, London). Financial Regulation After Brexit (panel member)
28 February 2017 (Chancery Bar Association New Practitioner’s Programme, London). Chancery Limitation Periods (co-presenter)
18 March 2016 (LexisNexis Webinars). The Latest in mortgages
Financial Services Lawyers Association (FSLA)