Judges: Vos LJ Citations: [2014] EWCA Civ 770 Links: Bailii Statutes: Financial Services and Markets Act 2000 56 Jurisdiction: England and Wales Financial services Updated: 09 June 2022; Ref: scu.526265
UTTC FINANCIAL SERVICES – FSMA s 123 – financial penalty – FSMA s 118(5) – whether conduct of Applicant constituted market abuse – FSMA s 56 – prohibition order – whether Applicant a fit and proper person Citations: [2012] UKUT B25 (TCC) Links: Bailii Statutes: Financial Services and Markets Act 2000 56 123 118(5) Jurisdiction: … Continue reading David John Hobbs v Financial Services Authority – FS/2010/0024: UTTC 22 Nov 2012
The Society appealed dismissal for limitation of its claim against the defendant firm of accountants arising from alleged fraud in approval of a solicitor’s accounts. Held: The liability did not arise until the Society decided to make compensation to those who had been affected by the solicitor’s default. The claims in negligence were not time … Continue reading The Law Society v Sephton and Co and others: CA 13 Dec 2004
a land-banking arrangement was held to amount to a collective investment scheme within section 235. The company purported to change its practices following intervention by the FCA. The changes were held by the judge insufficient to take it outside section 235. On two sites, the Crewe land and the Winterton land, involving sales respectively of … Continue reading In re Sky Land Consultants Plc: ChD 3 Mar 2010
The court was asked: ‘Was it unlawful for the Secretary of State for Health, the respondent, who had power to make provisions for the functioning of the National Health Service in England, to have failed to make a provision which would have enabled women who were citizens of the UK, but who were usually resident … Continue reading A and B, Regina (on The Application of) v Secretary of State for Health: SC 14 Jun 2017
Judges: Snowden J Citations: [2020] EWHC 3266 (Ch) Links: Bailii Jurisdiction: England and Wales Financial Services Updated: 28 July 2022; Ref: scu.656640
FSMT PROHIBITION ORDER – whether Applicant fit and proper to perform functions in relation to all regulated activities carried on by authorised persons generally – no in respect of all currently regulated activities – Financial Services and Markets Act 2000 s 56 Citations: [2007] UKFSM FSM049 Links: Bailii Financial Services Updated: 15 July 2022; Ref: … Continue reading Henton Revised v Financial Services Authority: FSMT 9 Nov 2007
FSMT REGULATED ACTIVITIES – performance of – prohibition order – whether Applicant a fit and proper person to perform functions in relation to regulated activities carried on by an authorised person – no – whether the Authority had power to make a prohibition order – yes – reference determined in favour of the Authority – … Continue reading Elliot v Financial Services Authority: FSMT 16 Mar 2006
FSMT PRELIMINARY ISSUE – Applicant prohibited from performing any function in relation to any regulated activity carried on by an authorised or exempt person or exempt professional firm because it appeared to the Authority that he was not a fit and proper person – Applicant had been found to be dishonest by the High Court … Continue reading Henton v Financial Services Authority: FSMT 4 May 2007
Insurance business transfer scheme Judges: Henderson J Citations: [2015] EWHC 3572 (Ch) Links: Bailii Statutes: Financial Services and Markets Act 2000 111(1) Jurisdiction: England and Wales Insurance Updated: 27 June 2022; Ref: scu.556754
Financial Services and Markets Act 2000 – application under s55A for permission to carry on regulated activities – whether applicant fit and proper. Held: L is a person of honesty and integrity. He has been subjected to an unjustified accusation. He has acted and may be expected to act with probity. We remit the application … Continue reading AFC Ltd v Financial Conduct Authority: UTTC 5 Feb 2016
UTTC FINANCIAL SERVICES – Decision Notice refusing permission for authorisation to carry on debt adjusting and debt counselling activities-whether giving of Decision Notice terminated Applicant’s Interim Permission to carry on those activities-Yes-Article 58 Financial Services and Markets Act 2000 (Regulated Activities) (Amendment (No 2)) Order 2013 – s133A (4) FSMA Citations: [2016] UKUT 18 (TCC) … Continue reading PDHL Ltd v Financial Conduct Authority: UTTC 28 Jan 2016
UTTC DECISION NOTICE – publication – whether Upper Tribunal should prohibit publication on grounds of potential serious reputational damage prejudice to civil proceedings or possible settlement discussions – FSMA 2000 S.391– Trib Proc (UT) Rules 2008 14(1) and Sch 3 para 3(3) Citations: [2012] UKUT B28 (TCC) Links: Bailii Statutes: Financial Services and Markets Act … Continue reading Arch Financial Products Llp and Others v Financial Services Authority: UTTC 30 Nov 2012
‘This case raises for the first time before the Court of Appeal the approach that the court should adopt in dealing with applications to sanction transfers of insurance business under Part VII (‘Part VII’) of the Financial Services and Markets Act 2000′ Citations: [2020] EWCA Civ 1626 Links: Bailii Jurisdiction: England and Wales Insurance, Financial … Continue reading Re Prudential Assurance Company Ltd and Rothesay Life Plc: CA 2 Dec 2020
The deceased was a prisoner known to be at risk of committing suicide. Whilst in police custody he hanged himself in his prison cell. The Commissioner accepted that he was in breach of his duty of care to the deceased, but not that that breach was caustive of the death by suicide. Held: Police and … Continue reading Commissioner of Police for the Metropolis v Reeves (Joint Administratix of The Estate of Martin Lynch, Deceased): HL 15 Jul 1999
(Scotland) By the 2014 Act, the Scottish Parliament had provided that each child should have a named person to monitor that child’s needs, with information about him or her shared as necessary. The Institute objected that the imposed obligation to share information was outwith the powers of the Parliament. It extended the information to be … Continue reading The Christian Institute and Others v The Lord Advocate: SC 28 Jul 2016
UTTC FINANCIAL SERVICES – regulated mortgage business – whether applicant fit and proper to carry out any controlled function involving exercise of significant influence – prohibition order – FSMA 2000, s56 Citations: [2012] UKUT B29 (TCC) Links: Bailii Statutes: Fincial Services and Markets Act 2000 56 Jurisdiction: England and Wales Financial Services Updated: 27 March … Continue reading Thommes v Financial Services Authority: UTTC 12 Dec 2012
The Claimants seek to recover from the Defendant, Positive Solutions (Financial Services) Ltd (Positive Solutions), compensation for losses that they have allegedly suffered as a result of the conduct of a Mr Qureshi and a Mr Warren. Master Bowles [2016] EWHC 2030 (Ch) Bailii Financial Services and Markets Act 2000 England and Wales Vicarious Liability, … Continue reading Frederick and Others v Positive Financial Solutions (Financial Services) Ltd: ChD 5 Aug 2016
Reasons for sanction of scheme of arrangement for insurance company. Snowden J [2016] EWHC 944 (Ch), [2016] WLR(D) 226 Bailii, WLRD Financial Services and Markets Act 2000 England and Wales Company Updated: 16 January 2022; Ref: scu.564143
Le Poidevin QC HHJ [2016] EWHC 724 (Ch) Bailii Financial Services and Markets Act 2000 England and Wales Financial Services Updated: 12 January 2022; Ref: scu.561526
Proceedings were brought against the appellant’s associated parties, alleging that they had carred on regulated activities without authorisation, contrary to section 19 of the2000 Act. They had offered various plots of land for sale, suggesting they would be seeking planning development permissions. Held: The appeal was dismissed. The company’s activities operated as ‘collective investment schemes’ … Continue reading Asset Land Investment Plc and Another v The Financial Conduct Authority: SC 20 Apr 2016
UTTC FINANCIAL SERVICES – preliminary hearing – third party rights – s 393 Financial Services and Markets Act 2000 – whether applicant identified in notice – no [2016] UKUT 103 (TCC) Bailii Financial Services and Markets Act 2000 393 England and Wales Financial Services Updated: 02 November 2021; Ref: scu.562428
The regulated bank Kaupthing Singer and Friedlander Ltd (KSF) was in financial difficulties. The Bank of England required KSF to credit to a trust account all future deposits. KSF later went into insolvency. Some deposits had been credited to the trust account but not all. The court was asked whether the sum held was for … Continue reading Brazzill and Others v Willoughby and Others: CA 27 May 2010
The applicants had been imprisoned and held without trial, being suspected of international terrorism. No criminal charges were intended to be brought. They were foreigners and free to return home if they wished, but feared for their lives if they did. A British subject, who was suspected in the exact same way, and there were … Continue reading A v Secretary of State for the Home Department, and X v Secretary of State for the Home Department: HL 16 Dec 2004
Disclosure of Government’s Legal Advice The interested party sought to obtain the legal opinion on which the Prime Minister had based his assertion that the Financial Services and Markets Bill complied with Human Rights. The respondent refused claiming protection under the section, and refused to say whether any advice had been taken. The respondent now … Continue reading HM Treasury v The Information Commissioner: Admn 21 Jul 2009
FSMT PRELIMINARY ISSUE – Applicant prohibited from performing any function in relation to regulated activities because it appeared to the Authority that he was not a fit and proper person – Applicant had been . .
The complainant has requested a copy of the Lehman Report, commissioned by the trustees of Pearl Group. The Financial Services Authority confirmed it held a draft version of the report but considered it exempt from disclosure under section 44 of the . .
FINANCIAL SERVICES – preliminary hearing – third party rights – s 393 Financial Services and Markets Act 2000 – whether applicant identified in notice – yes . .
Part 8 claim brought by Santander UK plc under Part VII of the Financial Services and Markets Act 2000 for the sanction of a banking business transfer scheme. . .
References: [2016] UKUT 302 (TCC) Links: Bailii Ratio: FINANCIAL SERVICES – preliminary hearing – third party rights – s 393 Financial Services and Markets Act 2000 – whether applicant identified in notice – yes Statutes: Financial Services and Markets Act 2000 393 Last Update: 31-Jul-16 Ref: 567364
References: [2016] UKUT 103 (TCC) Links: Bailii UTTC Ratio FINANCIAL SERVICES – preliminary hearing – third party rights – s 393 Financial Services and Markets Act 2000 – whether applicant identified in notice – no Statutes: Financial Services and Markets Act 2000 393 Last Update: 09-May-16 Ref: 562428
References: [2016] UKUT 18 (TCC) Links: Bailii Ratio FINANCIAL SERVICES – Decision Notice refusing permission for authorisation to carry on debt adjusting and debt counselling activities-whether giving of Decision Notice terminated Applicant’s Interim Permission to carry on those activities-Yes-Article 58 Financial Services and Markets Act 2000 (Regulated Activities) (Amendment (No 2)) Order 2013 – s133A … Continue reading PDHL Ltd v Financial Conduct Authority; UTTC 28 Jan 2016
References: [2012] UKUT B29 (TCC) Links: Bailii UTTC FINANCIAL SERVICES – regulated mortgage business – whether applicant fit and proper to carry out any controlled function involving exercise of significant influence – prohibition order – FSMA 2000, s56 Statutes: Fincial Services and Markets Act 2000 56