7722656 Canada INC (formerly Swift Trade Inc) and Peter Beck v The Financial Services Authority: FS/2011/0017 FS/2011/0018
Upper Tribunal Tax and Chancery decision of Judge Bishopp and Member Palmer and Member Abrams on 23 January 2013.
Read the full decision in .
MARKET ABUSE — share price manipulation — whether demonstrated — yes — FSMA s 118 — whether entering into contracts for difference knowing counterparty would hedge by placing orders for stocks amounts to behaviour “in relation to” qualifying investments — yes — whether open to FSA to take action against dissolved Canadian corporation regulated in Canada and with no place of business in United Kingdom — yes — scale of penalty — reference dismissed.
Published 1 December 2016