William Faulkner trading as Policylink and Another v Financial Services Authority: FIN 06/0004
Upper Tribunal Tax and Chancery decision of Judge Oliver, Member Burbidge and Member Hanson on 27 September 2006.
Read the full decision in .
REGULATED ACTIVITIES – Own-initiative variation of permission – Supervisory notice varied a Part IV permission by removal of all regulated activities with immediate effect – Reason for Notice being breaches of threshold condition 5 (suitability) and Principles 1 (conducting business with integrity) and 11 (dealing with FSA in an open and cooperative way) – In his application for permission to conduct regulated activities the Applicant had failed to disclose a number of relevant convictions and had also failed to disclose that he had been the subject of bankruptcy proceedings – Whether notice to that effect is the appropriate action for the Authority to take – Yes – Application dismissed.