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Financial services and markets tribunal rules on application of financial promotion regime

Financial services and markets tribunal rules on application of financial promotion regime Purpose – The purpose of this paper is to describe the Financial Services and Markets Tribunal ruling on the application of the financial promotion regime, involving Fox Hayes v. Financial Services Authority. Design/methodology/approach – The paper outlines the facts surrounding the case and comments on the ruling. Findings – The Tribunal disagreed with the FSA that the applicant had acted negligently or recklessly. Originality/value – The paper highlights the lack of clarity and guidance on the part of the FSA as to exactly which firms on its list of unauthorised firms it considered as “boiler rooms” and which it did not. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Regulation and Compliance Emerald Publishing

Financial services and markets tribunal rules on application of financial promotion regime

Joanna Gray
Journal of Financial Regulation and Compliance , Volume 16 (2): 8 – May 9, 2008
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Publisher
Emerald Publishing
Copyright
Copyright © 2008 Emerald Group Publishing Limited. All rights reserved.
ISSN
1358-1988
DOI
10.1108/13581980810869832
Publisher site
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Abstract

Purpose – The purpose of this paper is to describe the Financial Services and Markets Tribunal ruling on the application of the financial promotion regime, involving Fox Hayes v. Financial Services Authority. Design/methodology/approach – The paper outlines the facts surrounding the case and comments on the ruling. Findings – The Tribunal disagreed with the FSA that the applicant had acted negligently or recklessly. Originality/value – The paper highlights the lack of clarity and guidance on the part of the FSA as to exactly which firms on its list of unauthorised firms it considered as “boiler rooms” and which it did not.

Journal

Journal of Financial Regulation and Compliance – Emerald Publishing

Published: May 9, 2008

Keywords: Legal decisions; Tribunals

There are no references for this article.