“Invariably all UK regulated businesses will need to consider their procedures and policies, and the potential implications of dealing with any unregulated third-party that could be deemed to be caught in what is under the judgment, the very broad and encompassing acts of “making arrangements” and “advising”.
“Importantly, and as expected, the Court of Appeal upheld the judgment of first instance that Carey had met its obligations under the Conduct of Business principles."
Hallett did not comment on whether Carey would seek to take its case to the Supreme Court.
What do you think about the issues raised by this story? Email us on FTAletters@ft.com to let us know