In this practitioner insight decision report, Sarah Hitchins, a partner, and David McMenamin, an associate, in Allen & Overy's Litigation and Investigations Group, consider the decision of the Upper Tribunal (Tax and Chancery Chamber) in Jon Frensham v FCA [2021] UKUT 0222 (TCC) (UT/2020/000210) (31 August 2021).

The tribunal decided to dismiss a reference by a financial adviser of an FCA decision notice under which the FCA decided to withdraw his approval and issue a prohibition order as a result of non-financial misconduct on his part.

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