Claims Against Barclays Bank Plc

Edwin Coe LLP represents clients who are seeking recompense from Barclays Bank for investment advice particularly in relation to the Absolute Return Fund and the Market Return Fund.

On 14 January 2011, the Financial Services Authority (“FSA”) fined Barclays Bank Plc (“Barclays”) £7.7m for mis-selling two funds – the Aviva Global Balance Income Fund (“Aviva Fund”) and the Global Cautious Income Fund (“Global Fund”) between 2006 and 2008. It is apparent that over 12,000 customers invested in excess of £690m in the two funds.

The FSA found that Barclays failed to take reasonable steps in order to ensure that the advice it gave to customers to invest in those two funds was suitable. Customers were not adequately informed of the significant risks that their capital was open to. Further, the FSA concluded that Barclays’ brochures and other documentation about the funds did not warn customers of any risks.

The FSA stated that the relevant documentation provided to customers did not clearly explain the extent to which investments in the funds was linked to the performance of the stock market. Further, the complexity of the funds meant that they were not understood by inexperienced investors.

If you have lost your investment in funds recommended by Barclays whether in any of the funds mentioned above or any other fund and are seeking advice on the investment advice you had we can assist. Please contact Zahira Hussain at Edwin Coe.