FCA granted appeal on trader market prohibition decision

The FCA was granted an appeal by the Court of Appeal against a decision by the Upper Tribunal that found that Mizuho International trader David John Hobbs should not be prohibited from carrying out regulated activities. The Tribunal had found in 2010 that Hobbs had not commited market abuse back in 2007, however it also found his evidence given during the investigation had been unsatisfactory. It said: "We regard Hobbs as having been an unsatisfactory witness...