FCA wins appeal against judicial review

The Court of Appeal has overturned a High Court ruling which would have allowed a judicial review of a Financial Services Authority's Regulatory Decisions Committee (RDC) determination.

The watchdog, now operating as the Financial Conduct Authority (FCA), was successful on both grounds of its appeal against the earlier ruling. The FCA successfully argued the fact that a defendant can appeal a decision of the RDC to the Upper Tribunal will usually provide an adequate remedy, and the RDC gave sufficient reasons for its decision in this case in any event. However, Law firm Taylor Wessing said yesterday's ruling did not mean that the FCA was immune to the process of judicial review. Litigation and dispute resolution group senior associate Paul Glass said the decision ...