Arch Financial Products LLP, Robin Farrell and Robert Addison v The Financial Conduct Authority: [2015] UKUT 0013 (TCC)
Upper Tribunal Tax and Chancery decision of Judge Herrington, Member O'Neill and Member Freeman on 19 January 2015.
Read the full decision in .
FINANCIAL SERVICES 鈥� investment management 鈥� management of conflicts of interest - compliance monitoring - separation of decision making within firm acting for different customers 鈥� whether property of open ended investment companies managed with the aim of providing a prudent spread of risk as regards liquidity 鈥� Principles 2, 3, 8 in respect of alleged breaches by firm and Statements of Principle 6 and 7 in respect of alleged breaches by individual Applicants Management of conflicts of interest in respect of four specific transactions 鈥� whether Applicants acted without integrity 鈥� Principle 1 in respect of alleged breaches by firm and Statement of Principle 1 in respect of alleged breaches by individual Applicants Financial penalty and public censure 鈥� whether action against individual Applicants prevented by limitation 鈥� s66(4), (5) FSMA 鈥� appropriate level of penalty 鈥� ss66(3), 205 FSMA Fitness and properness of individuals 鈥� withdrawal of approvals 鈥� prohibition orders 鈥� ss56 and 63 FSMA.