Nazia Bi and Qadeem Mohammed v The Financial Services Authority: FIN/2010/0002 FIN/2010/0003
Upper Tribunal Tax and Chancery decision of Judge Oliver and Member Bates and Member Senior on 22 September 2011.
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PENALTY – Breach of APER 6 – Decision Notice issued in ignorance of financial circumstances of Applicants – Penalties reduced to take account of hardship – Fuller details of financial circumstances received by FSA after Decision Notice – Whether Tribunal should increase penalties – Implication of Applicants’ non-cooperation with the FSA (APER 4)- Decision Notice made no determination regarding breaches of APER 4 – Whether penalties should be imposed for such breaches - No.