Saima Hanif achieves “unprecedented” outcome against FCA in the Upper Tribunal

Saima Hanif represented Mr Tinney, the former COO of Barclays Wealth, before the Upper Tribunal. The Tribunal made the “unprecedented” decision (Financial Reporter) not to impose a ban or a financial penalty, despite the imposition of a ban by the RDC at first instance and the finding that Mr Tinney breached Principle 1 (lack of integrity).

The Tribunal accepted Ms Hanif’s submissions that the partial ban imposed by the RDC was not in ‘the reasonable range of responses open to the RDC’ and that the RDC had not misdirected itself in deciding that a financial penalty was unwarranted. The judgment is available here.

The case has received considerable interest, with coverage in Citywire (here and here), the Financial Reporter, Law360 and Practical Law.

Saima is recognised by Chambers & Partners as a “fantastic lawyer” who “packs a punch as an advocate”. She has a “high profile” in the field of financial services and is currently sole counsel in two major FCA investigations, an enforcement action where she is representing the PRA and the widely publicised SKAT ‘dividend arbitrage’ litigation.