Michiel Visser and Oluwole Modupe Fagbulu v The Financial Services Authority: FS/2010/0001 FS/2010/0006

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to manipulate market, breached investment restrictions and misled investors — yes — whether approvals properly withdrawn — yes — whether prohibition appropriate — yes — level of financial penalties to be imposed.

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