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Court of Appeal
Longmore, Lewison and Floyd LLJ
19 December 2013
 This is an appeal on points of law arising from a decision of the Upper Tribunal (Tax and Chancery Chamber) by which it upheld the proposed action and finding in a decision notice of the Regulatory Decisions Committee of the Financial Services Authority ("the FSA") which concluded that the first appellant was guilty of market abuse pursuant to section 118 of the Financial Services and Markets Act 2000 ("the 2000 Act") and that the appropriate penalty for such abuse was a penalty of £8 million (reported in  Lloyd's L.R.(F.C). 381ff).