*Khan v Financial Conduct Authority

Financial services – Financial Conduct Authority. The Upper Tribunal (Tax and Chancery Chamber) (the tribunal) dismissed the reference made by the applicant against a decision of the Financial Conduct Authority (the FCA) to impose a financial penalty of £80,000 on him in respect of breaches of Principle 1 of the Statements of Principle and Code of Practice for Approved Persons. The tribunal decided that the applicant had behaved dishonestly in respect of the Principle 1 breaches and that in those circumstances, the financial penalty of £80,000 imposed on him had been appropriate.

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