Linear Investments Ltd v Financial Conduct Authority

Financial services – Financial Conduct Authority. The Financial Conduct Authority (the FCA) had been right to impose a penalty of £409,300 on the applicant company for breach of Principle 3 of the FCA's Principles for Businesses. Accordingly, on the applicant's reference to the Upper Tribunal (Tax and Chancery Chamber), the tribunal confirmed that the FCA's action was appropriate and dismissed the applicant's appeal against the penalty amount.

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