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14.06.16
Two years imprisonment for insider trading offences
A former employee of Schroders Investment Management was sentenced to two years imprisonment yesterday having pleaded guilty to nine counts of insider trading between 2000 and 2013. The case was prosecuted by the Financial Conduct Authority (FCA) at Southwark Crown Court. Insider trading is a form of market abuse and is an offence contrary to…
Read more7.08.15
FCA "identified" Respondent in Notices
In Financial Conduct Authority v Macris [2015] EWCA 490 the Court of Appeal heard an appeal by the Financial Conduct Authority [FCA] against a decision that notices served by it had identified the Respondent and accordingly he ought to have been served with it. The central issue was whether the Respondent was “identified” within the…
Read more1.04.13
FsA abolished and replaced by FCA and PRA
The City has a new behavioural watchdog in the form of the Financial Conduct Authority (FCA). A second new organisation, the Prudential Regulation Authority (PRA), which is part of the Bank of England, is tasked with looking after all deposit-taking institutions, insurers and investment banks. The FCA is headed by Martin Wheatley, who said in a speech last year that,…
Read more27.03.13
Land banking company was operating collective investment scheme
In the FsA v Asset Land Investment Inc and others [2013] EWHC 178 the question for the High Court (Andrew smith J) was whether the land banking scheme operated by the defendant(s) was a “collective investment scheme” within the definition of section 235 FisMA 2000. Investors were sold plots of land at a number of…
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