Source: All England Reporter
Publisher Citation: [2016] All ER (D) 88 (Mar)
Neutral Citation: [2016] UKUT 103 (TCC)
Court: Upper Tribunal (Tax and Chancery Chamber)

Judge Timothy Herrington and Gary Bottriell

Representation Sara George of Stephenson Harwood LLP for the applicant.
  Paul Stanley QC (instructed by the FCA) for the FCA.
Judgment Dates: 26 February 2016


Financial services - Financial Conduct Authority (FCA) - Regulation of financial services - FCA notifying Deutsche Bank (DB) in Decision Notice of intention to impose financial penalty on DB as result of serious misconduct by DB through attempted manipulation of EURIBOR and LIBOR interest rates - Applicant being former employee of DB whose responsibilities had included making EURIBOR rate submissions on behalf of DB - Applicant claiming FCA including reasons in Decision Notice which had identified him and were prejudicial to him - Whether matters included in Decision Notice identifying applicant in sense and manner provided for in relevant legislation - .

The Case

Financial services Financial Conduct Authority (FCA). On a reference by the applicant to the Upper Tribunal (Tax and Chancery Chamber) (the tribunal) regarding the identification of the applicant in a Decision Notice for the purposes of of the Financial Services and Markets Act 2000, the tribunal dismissed the reference having decided that the applicant had failed to prove that any of the words used in the Final Notice by the Financial Conduct Authority were such as would reasonably in the circumstances lead persons professionally associated with the applicant to believe that he was a person prejudicially affected by matters stated in any of the reasons contained in that notice.

Practice Areas

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