FSMT SUPERVISORY NOTICE – Application for direction to suspend effect of notice until reference disposed of – Notice varied Applicant’s permission by removing all regulated activities with immediate effect – Reason for notice being breach of threshold condition 5 – In application for permission to conduct regulated activities the Applicant failed to disclose relevant convictions … Continue reading Hussain v Financial Services Authority: FSMT 29 Jun 2007

FSMT SUPERVISORY NOTICE – application for a direction to suspend effect of Notice until reference disposed of – Notice varied a Part IV permission by removal of all regulated activities with immediate effect -reason for Notice being breach of threshold conditions and Principles 1 (conducting business with integrity); 6 (treating customers fairly); and 11 (dealing … Continue reading Agarwala v Financial Services Authority: FSMT 15 Jan 2007

FSMT PROCEDURE – Withdrawal of reference – Permission of the Tribunal – Applicant submits letter purporting to withdraw reference notice lodged after case called on for adjourned hearing but before Authority’s opening – Whether withdrawn before the hearing of the reference – Yes – Financial Services and Markets Tribunal Rules 2001 (SI 2001/2476 r.14(1)) Citations: … Continue reading Eurolife Assurance Company Ltd v Financial Services Authority: FSMT 4 Sep 2002

FSMT PROCEDURE – Public or private hearing – Application for hearing of reference to be wholly in private – Whether necessary having regard to possible unfairness to Applicants – No – Whether necessary having regard to possible prejudice to consumers – No – Financial Services and Markets Tribunal Rules 2001 (SI 2001/2476) Judges: Steven Oliver … Continue reading Eurolife Assurance Company Ltd v Financial Services Authority: FSMT 23 May 2002

FSMT PERMISSION TO APPEAL – Tribunal reduced penalty imposed by Authority from andpound;150,000 to andpound;146,000 – application by Authority for permission to appeal to the Court of Appeal – limited permission granted – FSMA 2000 s137; Financial Services and Markets Tribunal Rules 2001 SI 2001 No. 2476 r24 [2008] UKFSM FSM058 Bailii England and Wales … Continue reading Fox Hayes v Financial Services Authority: FSMT 23 Apr 2008

FSMT PERMISSION TO CARRY ON REGULATED ACTIVITIES – application at the request of an authorised person to vary a permission application refused – refusal referred to Tribunal – reference unopposed – reference determined without an oral hearing – Respondent directed to set aside its refusal and to process the application in the normal way – … Continue reading Watts v The Financial Services Authority: FSMT 25 Jul 2005