The PRA has issued a statement in response to the Upper Tribunal’s judgement.
Following the Upper Tribunal’s judgement on 6 July 2021, the Prudential Regulation Authority (PRA) accepts the findings that it took a flawed approach in relation to identifying material held in this case. These errors resulted in the late disclosure of certain materials, for which we have apologised to both Mr Forsyth and to the Court. The Upper Tribunal has referred this matter back to the PRA which will consider the matter in light of the Upper Tribunal’s finding that Mr Forsyth did not act without integrity.
