Keydata founder Stewart Ford has today won a landmark High Court judgement against the Financial Services Authority (FSA), which was found to have acted unlawfully in its use of legally privileged material in its enforcement investigation.
Ford secured leave to take the FSA to a judicial review in March this year over the regulator's use of legally privileged emails from Keydata's and Ford's former legal advisers, Irwin Mitchell. The FSA obtained the emails, which contained legal advice and attendance notes of meetings with Irwin Mitchell and counsel, after it had successfully applied to the High Court for the appointment of its own nominated administrators, PriceWaterhouseCoopers (PwC), to take control of Keydata. At the FSA's request, PwC gave the FSA full access to Stewart Ford's email account and then waived Keydata...
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