Financial services and markets tribunal orders that costs of successful challenge to enforcement action for market abuse be paid by FSA

Joanna Gray

Journal of Financial Regulation and Compliance, 2007, vol. 15, issue 2, 217-220

Abstract: Purpose - To report and comment on the casePaul Davidson, Ashley Tathamv.The Financial Services Authority. Design/methodology/approach - Outlines the facts and explains the decision reached. Findings - The Tribunal ruled that the decision of the Financial Services Authority (FSA) which was the subject of the references was unreasonable and it directed that the FSA pay the costs or expenses incurred by the applicants in connection with the proceedings. Originality/value - With the costs incurred by the applicants being considerable, the paper offers the following warning: challenges to FSA enforcement action before the Tribunal do not come cheap and if successful applicants before the Tribunal then face a costs burden too their victories will often seem somewhat pyrrhic and the incentives for a meaningful level of challenge to FSA enforcement action, with the attendant public and independent airing of what can be vital legal issues for others too, becomes weakened.

Keywords: Tribunals; Legal decisions; Litigation (search for similar items in EconPapers)
Date: 2007
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:jfrcpp:v:15:y:2007:i:2:p:217-220

DOI: 10.1108/13581980710744101

Access Statistics for this article

Journal of Financial Regulation and Compliance is currently edited by Prof John Ashton

More articles in Journal of Financial Regulation and Compliance from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().