Upper Tribunal Tax and Chancery decision of Judge Bishopp and Member Palmer and Member Carter on 9 August 2011.
Read the full decision in Michiel Visser Oluwole Modupe Fagbulu v The Financial Services Authority: FS/2010/0001 FS/2010/0006.
MARKET ABUSE — collapse of hedge fund — whether applicants attempted
to manipulate market, breached investment restrictions and misled investors — yes —
whether approvals properly withdrawn — yes — whether prohibition appropriate —
yes — level of financial penalties to be imposed.
Release date: 9 August 2011
Ministry of Justice
HM Courts & Tribunals Service
Upper Tribunal (Tax and Chancery Chamber)
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