William Faulkner trading as Policylink and Another v Financial Services Authority: FIN 06/0004

Upper Tribunal Tax and Chancery decision of Judge Oliver, Member Burbidge and Member Hanson on 27 September 2006.

Read the full decision in William Faulkner trading as Policylink and Apsley Homes Estate Agents.

REGULATED ACTIVITIES – Own-initiative variation of permission – Supervisory notice varied a Part IV permission by removal of all regulated activities with immediate effect – Reason for Notice being breaches of threshold condition 5 (suitability) and Principles 1 (conducting business with integrity) and 11 (dealing with FSA in an open and cooperative way) – In his application for permission to conduct regulated activities the Applicant had failed to disclose a number of relevant convictions and had also failed to disclose that he had been the subject of bankruptcy proceedings – Whether notice to that effect is the appropriate action for the Authority to take – Yes – Application dismissed.

Published 1 December 2016