Canada Inc Swift Trade Inc and Peter Beck v Financial Services Authority: UTTC 23 Jan 2013

UTTC MARKET ABUSE – share price manipulation – whether demonstrate- yes – FSMA s 118 – whether entering into contracts for difference knowing counterparty would hedge by placing orders for stocks amounts to behaviour ‘in relation to’ qualifying investments – yes- whether open to FSA to take action against dissolved Canadian corporation regulated in Canada and with no place of business in United Kingdom – yes- scale of penalty- reference dismissed.

Citations:

[2013] UKUT B2 (TCC)

Links:

Bailii

Statutes:

Financial Services and Markets Act 2000 118

Jurisdiction:

England and Wales

Financial Services

Updated: 06 February 2022; Ref: scu.509163