Palmer v Financial Conduct Authority

Financial services – Financial Conduct Authority. The Financial Conduct Authority (FCA) had issued a decision notice against the applicant, imposing a financial penalty and a prohibition order on him. In considering the reference made by the applicant in respect of that decision notice, the Upper Tribunal (Tax and Chancery Chamber) dismissed the reference, having decided that the FCA had demonstrated that the applicant had failed to act with due skill, care and diligence in performing the functions concerned and that the financial penalty imposed had been justified and was appropriate. The tribunal further decided that there were no grounds for interfering with the prohibition order.

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