FSA challenge in Court of Appeal to finding of Financial Services and Markets Tribunal on question of whether solicitors' firm had contravened financial promotion regime

Abstract

Purpose

The purpose of this paper is to look at a recent Financial Services Authority (FSA) challenge in the Court of Appeal to finding of Financial Services and Markets Tribunal on question of whether solicitors' firm had contravened financial promotion regime (FSA v. Fox Hayes: Court of Appeal (civil division): Lord Justice Longmore, Lord Justice Wilson, Lord Justice Lawrence Collins).

Design/methodology/approach

Examines the FSA's various grounds for appeal and what was an appropriate level of penalty.

Findings

Provides the court of appeal's decisions on point of law in relation to three issues.

Originality/value

This paper will be of interest to regulated firms who fear the consequences of regulatory liability for breaches of FSA rules.

Citation

Gray, J. (2009), "FSA challenge in Court of Appeal to finding of Financial Services and Markets Tribunal on question of whether solicitors' firm had contravened financial promotion regime", Journal of Financial Regulation and Compliance, Vol. 17 No. 3, pp. 349-356. https://doi.org/10.1108/13581980910972278