Investment Decision Reference 2022-0202

Case OutcomeRejected
Subject MatterInvestment
Reference2022-0202
Date20 June 2022
Finantial SectorInvestment
Conducts Complained OfMis-selling
Decision Ref:
2022-0202
Sector:
Investment
Product / Service:
Investment
Conduct(s) complained of:
Mis-selling
Outcome:
Rejected
LEGALLY BINDING DECISION OF THE FINANCIAL SERVICES AND PENSIONS OMBUDSMAN
This complaint relates to the sale of an investment in the Olympiades Building, Avenue des
Olympiades, Olympiadenlaan, 1140 Brussels (the “Olympiades”) by the Provider to the
Complainant, which concluded on 15th March 2007
The Complainant’s Case
The Complainant submits that his relationship with the Provider had commenced some
years prior to 2007 and during this period the Provider had been his lender of funds for
various property purchases and introduced him to a number of investments. In this regard,
the Complainant submits that he trusted”, the Provider to ensure that his “best interests”
were being protected. The Complainant submits that he was not interested in “risky”
investments and that the Provider was aware of his financial profile”. The Complainant
submits that given his relationship with the Provider he considered himself to be an
advisory client” of the Provider.
The Complainant submits that his decision to invest was made on 9th March 2007 following
receipt of an Information Memorandum prepared by the Provider and other promoters, a
presentation on 8th March 2007 and numerous discussions that the Complainant had with
the Provider’s personnel in relation to the advantages” of the investment in the
Olympiades. The Complainant submits that he was “ advised that it was a low risk
investment” and that the Information Memorandum “suggested” it was a “low risk “blue
chip” investment”.

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