FSMT PENALTY – penalty of andpound;150,000 imposed by the Authority on the basis that the Applicant had received net profits from the business of andpound;29,975 – in the First Decision in this reference the Tribunal indicated that, on the basis of its then findings, it would reduce the penalty to andpound;70,000 – fresh evidence that the senior partner of the Applicant had also received commissions of andpound;814,039 from the business – whether these commissions were profits of the Applicant – yes – whether the amount of the penalty should be increased from andpound;70,000 – yes – penalty determined at andpound;146,000. – FSMA 2000 s 206(1)
[2008] UKFSM FSM056
Bailii
England and Wales
Updated: 23 October 2021; Ref: scu.268191 br>