David John Hobbs v The Financial Conduct Authority: FS/2010/0024

Upper Tribunal Tax and Chancery decision of Judge Berner, Member O’Neill and Member Burdon on 13 December 2013.

Read the full decision in David John Hobbs v Financial Services Authority: FS/2010/0024.

Financial services – prohibition order – s 56 FSMA – matter remitted to Tribunal by Court of Appeal to address the question whether, even if applicant was not guilty of market abuse, his lying, which in earlier proceedings the Tribunal had found as a fact, demonstrated that he was not a fit and proper person – whether a prohibition order was appropriate in circumstances where applicant had not worked in financial services for a considerable period and gave evidence that he did not intend to do so.

Published 1 December 2016