17 January 2014
Hobbs v Financial Conduct Authority [2014] All ER (D) 42 (Jan)
In determining whether to make a prohibition order, the Financial Conduct Authority had to consider: (a) the need to maintain the soundness of the UK financial system; (b) the need to protect consumers from the activities of unfit and improper persons in relation to regulated activities; and (c) achieving credible deterrence against conduct which was unfit and improper (as a means of advancing its operational objectives). Each case should be determined according to its own facts and circumstances.
