Financial Services and Markets Tribunal

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The United Kingdom's Financial Services and Markets Tribunal was an independent judicial body established under Section 132 of the Financial Services and Markets Act 2000, [1] which heard references arising from decision notices issued by the Financial Services Authority (FSA). In April 2010 the tribunal was abolished and its functions were transferred to the Upper Tribunal. [2]

Examples of such decisions that the tribunal could review included:

There were eight legally qualified chairmen (including the President, Stephen Oliver QC) [4] and 19 lay members with special experience of the financial sector - all appointed by the Lord Chancellor. [1] Appeal against decisions of the tribunal, on a point of law, reverted to the Court of Appeal in England and Wales, and to the Court of Session in Scotland.

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References

  1. 1 2 "FCA Handbook. Glossary. Financial Services and Markets Tribunal". Financial Conduct Authority . Retrieved 8 June 2022.
  2. Edward J Swan, John Virgo (5 March 2019). Market abuse regulation (Third ed.). Oxford, United Kingdom. ISBN   9780198759256.
  3. "FSMT Case 011 Legal & General Assurance Society Limited v FSA" (PDF). 19 January 2005. Retrieved 8 June 2022.
  4. Gray, Joanna (February 2003). "Financial Services and Markets Tribunal and the public administration of justice in financial regulation: Eurolife Assurance Company Ltd v Financial Services Authority". Journal of Financial Regulation and Compliance. 11 (1): 81–86. ProQuest   235038492.