Ford v Financial Services Authority & Anor

Ford v Financial Services Authority & Anor

The inclusion of LPP material in the Warning Notice was peripheral and did not materially affect the decision to issue it or the proposed sanctions. The appropriate remedy is redaction of the LPP material from the Warning Notice and related documents, not quashing the Notice. The FSA must use best endeavours to retrieve and destroy or redact all copies of the LPP material, but excluding all staff who have seen the material is disproportionate. The FSA must take steps to ensure third parties do not retain or use the LPP material and provide evidence of compliance.

Parties
Claimant: Stewart Ford; Defendant: Financial Services Authority; Interested Party: Peter Johnson; Interested Party: Mark Owen
Jurisdiction
England and Wales
Judgment Date
18 April 2012
Procedural Posture
Judicial Review / Remedies Judgment Following Substantive Judgment
Outcome
Application for quashing the Warning Notice refused; other relief granted in part.
Legal Topics
Legal Professional Privilege, Disclosure, Regulatory Investigations, Remedies in Judicial Review
Administrative Law Financial Regulation Legal Professional Privilege Disclosure Regulatory Investigations Remedies in Judicial Review

Case Brief

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Parties

Stewart Ford

Claimant

Financial Services Authority

Defendant

Peter Johnson

Interested Party

Mark Owen

Interested Party

Procedural Posture

Judicial Review / Remedies Judgment Following Substantive Judgment

Legal Issues

  1. 1 Whether the Warning Notice should be quashed due to inclusion of privileged material
  2. 2 What remedies are appropriate for the misuse of LPP material by the FSA
  3. 3 Whether FSA staff who have seen LPP material should be excluded from further involvement

Ratio Decidendi

The inclusion of LPP material in the Warning Notice was peripheral and did not materially affect the decision to issue it or the proposed sanctions. The appropriate remedy is redaction of the LPP material from the Warning Notice and related documents, not quashing the Notice. The FSA must use best endeavours to retrieve and destroy or redact all copies of the LPP material, but excluding all staff who have seen the material is disproportionate. The FSA must take steps to ensure third parties do not retain or use the LPP material and provide evidence of compliance.

Court Disposition

Application for quashing the Warning Notice refused; other relief granted in part.

Orders

  • FSA to redact LPP material from Warning Notice, SIR, and related documents and not use or disseminate unredacted versions.
  • FSA to use best endeavours to retrieve and destroy or redact all copies (hard and electronic) of the LPP material and related documents, subject to retention for litigation and audit purposes.