UT-2023-000032 - [2024] UKUT 00265 (TCC)

Case Number: UT-2023-000032

Hearing venue: The Rolls Building, London

FINANCIAL SERVICES – decision by the Authority not to authorise the Applicant to carry out regulated activities on the basis that the Applicant would not satisfy and continue to satisfy the threshold conditions for authorisation as required by section 55B(3) of the Financial Services and Markets Act 2000 – whether the decision one which was reasonably open to the Authority – yes – reference dismissed

Judgment date: 02 September 2024

Before

JUDGE MARK BALDWIN

MR. CHARLES FARQUHARSON
MR. MARTIN FRAENKEL

Between

ASHRAF WEALTH MANAGEMENT LIMITED

Applicant

and

THE FINANCIAL CONDUCT AUTHORITY

The Authority

Representation:

For the Appellant: Mr. Gareth Fatchett of FS Legal Solicitors LLP

For the Respondents: Mr. Simon Jones of counsel, instructed by the Financial Conduct Authority

DECISION