What about mis-selling.
Let's say a financial brokerage firm had two platforms one for retails and one for professionals. They claimed that the retail platform is as good as the professional platform and although my needs are institutional, there is no need to go for the professional platform and I could just use the retail platform.
This turned out to be completely false and the execution costs as well as capabilities turned out to be nothing near a professional standard.
In another review with this broker, stating again my needs, they have claimed that there are certain capabilities in the platform which they didn't raise first time round, however, this did not exist. Again, second time round with a larger deposit and a request to review into the platform, I was again pointed to the retail platform promising that the problems in my first time round would be fixed.
However, this was never fixed and the issues persisted leading to losses. And when I have raised a formal complaint with the staff at the most senior level, they then tell me that I should use the professional platform and ditch the retail one.
Do I have a case?
It was as good as as "fit and purpose" for my needs hence there is no reason for me to use the professional platform and I could use the retail one.
Mind you a fact that retail platform pays them more commission than the pro platform