In this era of record fines and with a broad range of non-monetary enforcement tools at the regulators’ disposal the risks to the financial services professional appear to be ever increasing. However, the Financial Services and Markets Act 2000 does contain a number of vital checks and balances to guard against bad decisions by the […]

Angela Burns v The Financial Conduct Authority (previously the Financial Services Authority) [2015] UKUT 0252 (TCC) – Upper Tribunal finds FCA sanction was not commensurate with facts found proved by FCA (then the FSA) and reduces financial penalty imposed Conflict of interests Angela Burns was an FCA regulated Approved Person holding Controlled Function 2 (“CF2”) […]

On 18 September 2015, the FCA published a press release confirming that it will not prohibit Andrew Wilkins, a former director of Catalyst Investment Group Ltd, from performing any significant influence function. http://bit.ly/1iufols In October 2013, the FCA issued a final notice to Catalyst Investment Group Ltd, censuring it for recklessly misleading investors when promoting […]

Following the Upper Tribunal’s decision concerning two non-executive directors of Arch Financial Products LLP (Arch) the FCA has published final notices. The FCA has: Imposed a £200,000 fine on Robert Addison, Arch’s former compliance officer, for breaches of Principles 1 and 7 of the FCA’s Statements of Principle for Approved Persons, withdrawn his permission to […]

In the case of Andrew Jeffery v FCA, the Upper Tribunal upheld the FSA’s decision to ban Mr Jeffery from carrying out any function in relation to any regulated activity and to impose a financial penalty of £150,000 for breaches of Statements of Principle 1 and 4 of the FSA’s Statements of Principle and Code […]