Financial services and markets tribunal rules on application of financial promotion regime

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Journal of Financial Regulation and Compliance

ISSN: 1358-1988

Online from: 1992

Subject Area: Accounting and Finance

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Document Information:
Title:	Financial services and markets tribunal rules on application of financial promotion regime
Author(s):	Joanna Gray, (University of Newcastle upon Tyne, Newcastle upon Tyne, UK)
Citation:	Joanna Gray, (2008) "Financial services and markets tribunal rules on application of financial promotion regime", Journal of Financial Regulation and Compliance, Vol. 16 Iss: 2, pp.192 - 199
Keywords:	Legal decisions, Tribunals
Article type:	Research paper
DOI:	10.1108/13581980810869832 (Permanent URL)
Publisher:	Emerald Group Publishing Limited
Abstract:	Purpose – The purpose of this paper is to describe the Financial Services and Markets Tribunal ruling on the application of the financial promotion regime, involving Fox Hayes v. Financial Services Authority. Design/methodology/approach – The paper outlines the facts surrounding the case and comments on the ruling. Findings – The Tribunal disagreed with the FSA that the applicant had acted negligently or recklessly. Originality/value – The paper highlights the lack of clarity and guidance on the part of the FSA as to exactly which firms on its list of unauthorised firms it considered as “boiler rooms” and which it did not.