UT (Tax & Chancery) UT-2022-0000150 - [2024] UKUT 00254 (TCC)

UT (Tax & Chancery) Case Number: UT-2022-0000150

FINANCIAL SERVICES – Decision Notice issued on basis that the Authority not satisfied an individual was “fit and proper” to perform Chief Executive and Executive Director functions – Decision Notice referred to Tribunal – possible overlap with references made by Barclays –– Decision Notice based in part on findings of other court and Tribunal hearings – whether admissible – whether Tribunal should place weight on them – no witnesses called by the Authority – whether individual dishonest and/or lacked candour when responding to questions asked by the Authority during interviews in 2013 and 2014 – held, yes – whether Tribunal should also make other findings based on evidence put forward by Applicant – yes – if remitted to consider new facts, the outcome would inevitably be the same – Reference dismissed

Heard on 8-10 July 2024

Judgment given on: 24 August 2024

Before

DEPUTY UPPER TRIBUNAL JUDGE ANNE REDSTON

MS SUSAN DALE

MR PETER FREEMAN

Between

SARANAC PARTNERS LIMITED

Applicant

and

THE FINANCIAL CONDUCT AUTHORITY

Respondent

Representation:

For the Applicant: Ian Winter KC, instructed by CMS Cameron McKenna Nabarro Olswang LLP

For the Respondent: Paul Stanley KC, instructed by the Financial Conduct Authority

DECISION