Bayliss and Co (Financial Services) Limited and Clive John Rosier v The Financial Conduct Authority: [2015] UKUT 0265 (TCC)

Upper Tribunal Tax and Chancery decision of Judge Herrington and Member Neill and Member White on 21 May 2015.

Read the full decision in Bayliss and Co. (Financial Services) and Clive Rosier Limited v The Financial Conduct Authority: [2015] UKUT 0265 (TCC).

FINANCIAL SERVICES – independent financial adviser-whether approved person able to demonstrate that he provided suitable advice-whether he took reasonable steps to ensure compliance with regulatory standards-Statements of Principle 2 and 7 Financial Penalty-whether action precluded by limitation-s66(4), (5) FSMAappropriate level of penalty-s66(3) FSMA Fitness and properness of approved person-withdrawal of approvals and prohibition order in relation to significant influence functions-s56 and 63 FSMA Cancellation of firm’s permission-s55J FSMA.

Published 1 December 2016