(1) MR JORGE LOPEZ GONZALEZ (2) MR POOJAN SHETH (3) MR DIEGO URRA v THE FINANCIAL CONDUCT AUTHORITY [2025] UKUT 00214 (TCC)
Upper Tribunal Tax and Chancery decision of Judge Zaman on 01 July 2025
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FINANCIAL SERVICES – market abuse – placing and cancellation of “large” orders in BTP Futures on the Eurex Exchange which overlapped with small orders placed by the applicants on the opposite side – whether “large” orders give false or misleading impression or signal to other market participants – whether placed as part of an abusive scheme to facilitate execution of small orders or a legitimate trading strategy being pursued – held – references against prohibition orders dismissed – amount of penalties determined
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Published 1 July 2025