The PRA has issued two bans and three public censures following the failure of a credit union (‘Enterprise the Business Credit Union’) which had 1,900 members and £7m in savings.
Saima Hanif advised the PRA in respect of the enforcement action.
This enforcement action is the PRA’s first against individuals involved in a credit union and the first action against a non-approved person. The final notices can be viewed: here
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 represented Mr Tinney against the FCA in the landmark Upper Tribunal decision on sanctions for a lack of integrity. She is currently sole counsel in two major FCA investigations, a GFSC investigation and the widely publicised SKAT ‘dividend arbitrage’ litigation.