Financial services and markets tribunal turns down costs application from broker whom it had earlier found not to have engaged in market abuse

Abstract

Purpose

The purpose of this paper is to describe how the Financial Services and Markets Tribunal turned down a costs application from a broker it had earlier found not to have engaged in market abuse.

Design/methodology/approach

The paper outlines the facts surrounding the decision.

Findings

The case drives home the importance of insurance against the costs of Tribunal representation for key employees in the financial services industry at risk of FSA enforcement proceedings.

Originality/value

The paper highlights the Financial Services and Markets Tribunal decision to awarding costs.

Citation

Gray, J. (2006), "Financial services and markets tribunal turns down costs application from broker whom it had earlier found not to have engaged in market abuse", Journal of Financial Regulation and Compliance, Vol. 14 No. 4, pp. 418-423. https://doi.org/10.1108/13581980610711199