a new client was poorly advised in 2014 by a discretionary FCA authorised fund management company. The client invested in the fund management company's leveraged, concentrated, small-company fund. Your client complained to the Financial Ombudsman Service (FOS) after having lost 400,000 on a total investment of 500,000. The fund management company offered no compensation. The FOS offered your client the statutory maximum award and made a recommendation that the fund management company pay the remainder between the statutory maximum and the total level of compensation calculated by the FOS that in this instance is 400,000. Your client believes that he has the following three options:

a) Accept the FOS award of 150,000 and close the case.

b) Reject the FOS award and take the company to court to claim the full 400,000.

c) Accept the FOS award of 150,000 and take the company to court to claim the difference between the FOS's statutory maximum award and the FOS's recommended compensation of 400,000.

Your client asks you if he is correct about the options he believes are available today, the risks involved, and the payouts. Based on the legal provisions available in the UK, what are the implication and feasibility of the options?