R (on the application of Grout) v Financial Conduct Authority

Financial services – Financial Conduct Authority (FCA). The applicant, a former junior trader at an investment bank in London, sought judicial review of the Financial Conduct Authority's decision to terminate an investigation into him. The Administrative Court dismissed the application and held that the decision to terminate the investigation had been rational. The matters which it had taken into account had been legitimate considerations and it had been for the FCA to determine what weight to give to them. It could not be said that the weight given to any consideration had been manifestly disproportionate. Further, the decision had been lawful.

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