Statutory cap cannot be exceeded
Bunney v. Burns Anderson plc and Another
“It was outwith the Financial Services Ombudsman’s powers to make a direction under section 229(2) of the Financial Services and Markets Act 2000 that, if implemented, would require a firm to pay a complainant an amount exceeding the statutory cap of £100,000.”
The Times, 20th June 2007
Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.