7722656 Canada INC (formerly Swift Trade Inc) and Peter Beck v The Financial Services Authority: FS/2011/0017 FS/2011/0018
Upper Tribunal Tax and Chancery decision of Judge Bishopp and Member Palmer and Member Abrams on 23 January 2013.
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MARKET ABUSE 鈥� share price manipulation 鈥� whether demonstrated 鈥� yes 鈥� FSMA s 118 鈥� whether entering into contracts for difference knowing counterparty would hedge by placing orders for stocks amounts to behaviour 鈥渋n relation to鈥� qualifying investments 鈥� yes 鈥� whether open to FSA to take action against dissolved Canadian corporation regulated in Canada and with no place of business in United Kingdom 鈥� yes 鈥� scale of penalty 鈥� reference dismissed.
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Published 1 December 2016