Rangecourt SA (formerly Banque Havilland) & Ors v FCA
[2026] UKUT 00047 (TCC)
05 Feb 2026
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The Upper Tribunal has handed down judgment in a regulatory reference addressing, amongst other things, corporate attribution under Principle 1, the scope of “business” for the purposes of the same rule, individual liability for breaches of Statements of Principle and penalty levels.
Ajay Ratan acted (as part of a wider team) for the Financial Conduct Authority.
Andrew George KC and Simon Pritchard acted for Edmund Rowland.
Fraser Campbell KC acted for David Rowland who was a third party to the reference.
The judgment is available here.
