Financial Services and Markets Act Tribunal

Statutory tribunal, within the Court Service, operating as a court of first instance. Persons disciplined by the FSA have the right to go to the Tribunal. The burden of proof attaches to the FSA. Usually there is an oral hearing on the substantive issues. The Tribunal’s decision on fact is final but points of law may be appealed. The Tribunal can award costs against the applicant or the FSA. The Tribunal consists of a legally qualified chairman and two industry members.

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