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LNB News: Permission to appeal sought in case of FCA v 24 Hr Trading Academy

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25 May 2021
Categories: Legal News , Financial services litigation
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The Ministry of Justice has updated its civil appeals case tracker to reflect that an application for permission to appeal the decision of the High Court in Financial Conduct Authority v 24hr Trading Academy Ltd and another [2021] EWHC 648 has been made.

Lexis®Library update: The case concerned breach of the Financial Services and Markets Act 2000 (FSMA 2000) general prohibition and financial promotion restriction.

The High Court has previously delivered a summary judgment in proceedings commenced by the Financial Conduct Authority (FCA), ruling that 24HR Trading Academy Limited (24HR Trading), run by Mohammed Fuaath Haja Maideen Maricar, contravened the FSMA 2000 by providing unauthorised investment advice and unapproved financial promotions to consumers via WhatsApp messages.

Source: The Financial Conduct Authority v 24 Hr Trading Academy Limited & anr

This content was first published by LNB News / Lexis®Library, a LexisNexis® company, on 24 May 2021 and is published with permission. Further information can be found at: www.lexisnexis.co.uk.

Categories: Legal News , Financial services litigation
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