UK

Betting scheme contravenes Financial Services and Markets Act 2000

Joanna Gray, University of Newcastle-upon-Tyne

On 21 October 2004 the Chancery Division of the High Court gave judgment in the case of Financial Services Authority v Fradley (trading as Top Bet Placement Services) and another . This case raised some interesting issues on the scope of the definition, contained in section 235 of the Financial Services and Markets Act (FSMA) 2000, of a collective investment scheme.