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The Upper Tribunal determined that Mr Ashton, the former Global head of G10 Voice Spot FX at Barclays, was not identified in two Decision Notices issued to his employer Bank (Barclays) and another Bank (UBS) and therefore that the third party rights provisions in s393 FSMA 2000 did not apply to him. Bacground On 12 November 2014, the FCA published a Final Notice imposing a penalty on UBS for misconduct arising from inadequate controls over…
The FCA has found that Mr Craig Stuart Cameron (Mr Cameron) failed to act with honesty and integrity in performing a significant influence function CF1 (Director) at Burlington Associates Limited (Burlington), in breach of Statement of Principle 1 of the Statements of Principle and has imposed a £350,000 financial penalty on Mr Cameron and made a prohibition order preventing Mr Cameron from carrying out any functions in the regulated sector. The action supports the FCA’s statutory…