UK's Financial Conduct Authority Statement Regarding David John Hobbs

On 29 July 2013 the Court of Appeal allowed the FCA’s appeal regarding the Tribunal’s decision of 22 November 2012 not to impose a prohibition order on Mr David John Hobbs.

We welcome the Court of Appeal’s decision. The Court of Appeal has remitted the matter to the Tribunal for it to decide whether, in light of the findings made by the Tribunal regarding Mr Hobbs’s conduct during the investigatory and Tribunal processes, a prohibition order should be imposed on Mr Hobbs.

Background

1. The Tribunal’s decision dated 22 November 2012.
2. The FCA’s (then the Financial Services Authority) statement on the Tribunal’s decision.
3. The FCA did not appeal the Tribunal’s finding in its decision dated 22 November 2012 that Mr Hobbs had not committed market abuse. This aspect of the Tribunal’s decision remains unaltered by the Court of Appeal’s decision.