A financial services ombudsman was free to make an award which differed from that which a court applying the law would make, provided that he concluded that the award he wished to make was one which was fair and reasonable in all the circumstances of the case and provided he had taken into account the matters identified in rule 3.8.1(2) of the compensation scheme made pursuant to the Financial Services and Markets Act 2000.

[2005] EWHC 1153 (Admin)