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United Kingdom Upper Tribunal (Tax and Chancery Chamber)
You are here: BAILII >> Databases >> United Kingdom Upper Tribunal (Tax and Chancery Chamber) >> Arch Financial Products LLP & Ors v The Financial Conduct Authority [2015] UKUT 13 (TCC) (19 January 2015)
URL: http://www.bailii.org/uk/cases/UKUT/TCC/2015/13.html
Cite as: [2015] UKUT 13 (TCC)
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FINANCIAL SERVICES – investment management – management of conflicts of interest - compliance monitoring - separation of decision making within firm acting for different customers – whether property of open ended investment companies managed with the aim of providing a prudent spread of risk as regards liquidity – Principles 2, 3, 8 in respect of alleged breaches by firm and Statements of Principle 6 and 7 in respect of alleged breaches by individual Applicants
Management of conflicts of interest in respect of four specific transactions – whether Applicants acted without integrity – Principle 1 in respect of alleged breaches by firm and Statement of Principle 1 in respect of alleged breaches by individual Applicants Financial penalty and public censure – whether action against individual Applicants prevented by limitation – s66(4), (5) FSMA – appropriate level of penalty – ss66(3), 205 FSMA
Fitness and properness of individuals – withdrawal of approvals – prohibition orders – ss56 and 63 FSMA
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