Was former chairman of Shell Group denied procedural fairness in the FSA's enforcement action against the group? Financial Services and Markets Tribunal gives preliminary ruling

Abstract

Purpose

To discuss the FSA's enforcement action against the Royal Dutch/Shell group, which had been found to have made false or misleading announcements regarding its proved hydrocarbon reserves and reserves placement ratio's 1998‐2003.

Design/methodology/approach

Presents the facts forming the background to the case.

Findings

Finds that the Chairman of Shell's defence in the case contains some justifiable points, although the tribunal's decision went against him.

Originality/value

Arguably, lays the foundation for further discussion of points such as these, foreshadowring a forthcoming publication on the UK financial regulation.

Citation

Gray, J. (2006), "Was former chairman of Shell Group denied procedural fairness in the FSA's enforcement action against the group? Financial Services and Markets Tribunal gives preliminary ruling", Journal of Financial Regulation and Compliance, Vol. 14 No. 1, pp. 123-130. https://doi.org/10.1108/13581980610644815