Soheir Ahmed Zaki & Ors v Credit Suisse (UK) Limited  EWHC 2422 (COMM) Judgment has been given by the High Court in London in a claim by a high net worth individual over losses of $69.4 million incurred on 10 structured financial products bought from Credit Suisse (UK) Limited (CSUK). The decision of Mr Justice Teare is of interest as it concerns issues such as the nature of a personal recommendation, the Financial Services Authority's (FSA) suitability rule for investment advice and causation in the context of breach of statutory duty.
Nature of Relationship
unrealistic to suppose that he did not at least from time to time, cross from the territory of information into the territory of recommendation or advice, at least in the sense of either pointing out that a product was advantageous . . . or in agreeing with such an observation by Mr Zeid.5
To view additional stories from Bloomberg Law® request a demo now