FCA Ordered To Pay Ex-Financial Adviser's Costs After Delays
Law360, London (January 29, 2019, 2:43 PM GMT) -- An appeals tribunal has ordered the Financial Conduct Authority to pay £4,440 ($5,850) to a former director of a financial adviser for "unreasonably" dragging out its case accusing him of undisclosed conflicts of interest and failing to give advice to pension clients, according to court documents.
Writing on behalf of the tribunal, Judge Tim Herrington of the Tax and Chancery Chamber said the City regulator's internal enforcement and decisions committee should have been fairer to Alistair Burns during its investigation and prosecution. The FCA had alleged that Burns lacked the competence to ensure that TailorMade Independent was giving bad advice to its clients...
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