Press Release – FCA vs. AVACADE – 4 August 2021
THE FINANCIAL CONDUCT AUTHORITY (FCA) V AVACADE LIMITED (IN LIQUIDATION) (2)ALEXANDRA ASSOCIATES (U.K.) LIMITED (3) CRAIG STANLEY LUMMIS (4) LEEEDWARD LUMMIS (5) RAYMOND GEORGE FOX. 4 August 2021, Sheffield, UK Omid Khub of Zakery Khub Solicitors: ----------------------------------------------------------------------------------------- The analysis of Adams and Avacade has now resulted in two different decisions by the Courtof Appeal. For precise details of the difference, please refer to the records of our analysis ofAdams and Avacade as presented to the Court of Appeal on 7 th and 8 th July 2021. We are carefully considering the judgment of the Court of Appeal, including the viewexpressed...
Press Release – Zakery Khub Solicitors: Litigation & Dispute Resolution
RE: FCA v 24HR Trading Academy Limited and MR M F Maricar - Neutral Citation:[2021] EWHC 648 (Ch). Litigation and Dispute Resolution. Fast-evolving Crypto market and FX Trading – (such as ‘futures contracts’, ‘contract fordifference’ and ‘option’ and ‘securities’) is it a Criminal Offence to introduce?‘Arranging’, ‘selling’ or ‘advising’, which is not always obvious to an untrainedintroducer/promoter, could land them in contravention of FSMA 2000 and lead to a possiblecriminal offence. Having been heavily involved in the High Court’s decision in Avacade as reported byLaw360, FTAdviser, Bloomberg, and International Advisor, etc., and more recently in at theCourt of Appeal in...
Press Release – Zakery Khub Solicitors’ Dispute Resolution Department
Dispute Resolution Department: Zakery Khub Solicitors - Press ReleaseThe Court of Appeal, headed by Sir Geoffrey Vos, the Master of the Rolls, together with Lord Justice Peter Jackson and Lord Justice Popplewell, will hear our clients’ much-anticipated grounds of appeal this morning. Over two days. We hope the Court of Appeal will clarify the hard-fought regulatory issues in this case. Which arise out of the application of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (“RAO”).This saga relates to the relationship between unregulated introducers and FCA regulated IFAs and pension providers. It has always been the case that our...
Press Release – FCA v Avacade
THE FINANCIAL CONDUCT AUTHORITY (FCA) V AVACADE LIMITED (IN LIQUIDATION) (2) ALEXANDRA ASSOCIATES (U.K.) LIMITED (3) CRAIG STANLEY LUMMIS (4) LEE EDWARD LUMMIS (5) RAYMOND GEORGE FOX. 30 June 2020, Sheffield, UK Omid Khub of Zakery Khub Solicitors: Our clients, the Second to Fourth Defendants in the above matter are extremely disappointed about today’s decision. However, they sympathise greatly with those who have lost money on any investments. Our clients operated as an introducer to a number of FCA-regulated SIPP companies and IFAs. Those FCA-regulated companies, (and not our clients), invested investor’s money. Only after approving the investments, and in...
Press Release – FCA v Avacade
THE FINANCIAL CONDUCT AUTHORITY (FCA) V AVACADE LIMITED (IN LIQUIDATION) (2) ALEXANDRA ASSOCIATES (U.K.) LIMITED (3) CRAIG STANLEY LUMMIS (4) LEE EDWARD LUMMIS (5) RAYMOND GEORGE FOX. 30 June 2020, Sheffield, UK Omid Khub of Zakery Khub Solicitors: ----------------------------------------------------------------------------------------- Our clients, the Second to Fourth Defendants in the above matter are extremely disappointed about today’s decision. However, they sympathise greatly with those who have lost money on any investments. Our clients operated as an introducer to a number of FCA-regulated SIPP companies and IFAs. Those FCA-regulated companies, (and not our clients), invested investor’s money. Only after approving the investments, and...
Press Release – FCA vs. AVACADE – 4 August 2021
THE FINANCIAL CONDUCT AUTHORITY (FCA) V AVACADE LIMITED (IN LIQUIDATION) (2)ALEXANDRA ASSOCIATES (U.K.) LIMITED (3) CRAIG STANLEY LUMMIS (4) LEEEDWARD LUMMIS (5) RAYMOND GEORGE FOX.4 August 2021, Sheffield, UKOmid Khub of Zakery Khub Solicitors: The analysis of Adams and Avacade has now resulted in two different decisions by the Courtof Appeal. For precise details of the difference, please refer to the records of our analysis ofAdams and Avacade as presented to the Court of Appeal on 7 th and 8 th July 2021. We are carefully considering the judgment of the Court of Appeal, including the viewexpressed by Lord Justice...
Press Release – Zakery Khub Solicitors: Litigation & Dispute Resolution
RE: FCA v 24HR Trading Academy Limited and MR M F Maricar – Neutral Citation:[2021] EWHC 648 (Ch). Litigation and Dispute Resolution. Fast-evolving Crypto market and FX Trading – (such as ‘futures contracts’, ‘contract fordifference’ and ‘option’ and ‘securities’) is it a Criminal Offence to introduce?‘Arranging’, ‘selling’ or ‘advising’, which is not always obvious to an untrainedintroducer/promoter, could land them in contravention of FSMA 2000 and lead to a possiblecriminal offence. Having been heavily involved in the High Court’s decision in Avacade as reported byLaw360, FTAdviser, Bloomberg, and International Advisor, etc., and more recently in at theCourt of Appeal in...
Press Release – Zakery Khub Solicitors’ Dispute Resolution Department
Dispute Resolution Department: Zakery Khub Solicitors – Press Release The Court of Appeal, headed by Sir Geoffrey Vos, the Master of the Rolls, together with Lord Justice Peter Jackson and Lord Justice Popplewell, will hear our clients’ much-anticipated grounds of appeal this morning. Over two days. We hope the Court of Appeal will clarify the hard-fought regulatory issues in this case. Which arise out of the application of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (“RAO”). This saga relates to the relationship between unregulated introducers and FCA regulated IFAs and pension providers. It has always been...