Eurosure Investment Services Limited v Financial Services Authority: FIN/2003/0015
Upper Tribunal Tax and Chancery decision of Judge Brice on 9 October 2003.
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SUPERVISORY NOTICE - variation of Part IV permission by removal of all regulated activities with effect from 9 September 2003 - reason for Notice being breach of threshold condition 4 (adequate resources) - Applicant without professional indemnity insurance cover - application for a direction to suspend effect of Notice until reference disposed of - whether Tribunal satisfied that such a direction would not prejudice the interests of consumers - no - whether necessary for Notice to take effect on 9 September 2003 - yes - whether removal of all regulated activities proportionate to the concerns being addressed by the Notice - yes - application dismissed - FS&MT Rules 2001 SI 2001 No. 2476 Rule 10(1)(e) and Rule 10(6).