News / 25.05.2016

The appeal against the Supreme Court’s much discussed decision that Experienced Investor Fund (“EIF”) directors have a higher duty, as decided in Compson v Financial Services Commission and Weal v Financial Services Commission has been dismissed by the Court of Appeal. The Court of Appeal has upheld the decision of the Supreme Court to the effect that that EIF Directors have a higher objective standard of due skill, care and diligence when exercising his functions as a director of an EIF.