A decision notice on trial – and defeated

As the regulator’s aggressive enforcement strategy continues, more individuals are fighting their corner in the Upper Tribunal. But in a recent case the FSA’s own process was put under scrutiny in the High Court – which has issued a costly quashing order regarding a decision notice that failed to address the claimant’s representations. Steven Francis and Alex Lincoln-Antoniou report.

Steven Francis is a partner and Alex Lincoln-Antoniou an associate at City law firm RPC (Reynolds Porter Chamberlain). Contact them at steven.francis@rpc.co.uk and alex.lincoln-antoniou@rpc.co.uk.

The FSA has been handed a potentially costly and embarrassing judgment by the High Court in a judicial review hearing to determine whether its Regulatory Decisions Committee (RDC) failed to discharge its statutory duties to issue a decision notice with fully particularised reasons.