Ernest Thomas Rayner and John Robert Townsend v The Financial Services Authority:FIN/2003/0017 FIN/2003/0018

Upper Tribunal Tax and Chancery decision of Judge Blair QC and Member Bates and Member Palmer on 6 August 2004.

Read the full decision in (1) Ernest Thomas Rayner (2) John Robert Townsend v The Financial Services Authority

FSA: REGULATORY ACTION AGAINST INDIVIDUALS – withdrawal of approval – prohibition order – fit and proper – obligations under Pensions Review – importance of compliance – disposal of assets without making proper provision for review – lack of integrity – proportionality of action – test to be applied.

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