Fleurose vs FSA Ltd, [2001] EWCA Civ 2015
Citation:Fleurose vs FSA Ltd, [2001] EWCA Civ 2015
Rule of thumb 1: When disciplinary proceedings are being brought by a licensing body, how strict do the procedures have to be? Fairly strict with evidence & charges provided, but not strict to criminal procedure standards.
Rule of thumb 2: Can a person be accused of something in civil proceedings even if it could lead to them being incriminated? Yes, as long as it is civil proceedings & civil allegations made, this evidence is admissible.
Judgment:
The basic facts of this case were that Mr Fleurose was accused of unfair trading on the stock market & manipulating prices by the Financial Services Authority – this was a disciplinary hearing. The Court held that even though there could have been a criminal charge, because it was not one as such, the evidence obtained from him was admissible. The Court held that in these circumstances there is not the need for stringent procedures like in criminal law but there still had to be fairly strict procedure, ‘Therefore clearly the proceedings had to be fair. We accept for present purposes, as did the judge, that it was for the SFA to prove their case, that the SFA had to inform Mr Fleurose in good time of the nature of the charges, that he must have adequate time and facilities to prepare his defence, a proper opportunity to give and call evidence and question those witnesses called against him. What fairness requires will vary from case to case and manifestly the gravity and complexity of the charges and of the defence will impact on what fairness requires’. Schieman L
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