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.
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REGULATED ACTIVITIES 鈥� Own-initiative variation of permission 鈥� Supervisory notice varied a Part IV permission by removal of all regulated activities with immediate effect 鈥� 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) 鈥� 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 鈥� Whether notice to that effect is the appropriate action for the Authority to take 鈥� Yes 鈥� Application dismissed.