Catalyst boss loses Court of Appeal battle over £450k FCA fine

Legal battle over for Roberts

clock • 1 min read

The Court of Appeal has rejected a bid by Timothy Roberts to avoid a £450,000 fine from the financial regulator over failed investment Catalyst.

In a final notice, the Financial Conduct Authority (FCA) said Roberts, former chief executive of Catalyst, would now have two weeks to pay the fine first issued in August 2013 and upheld by the Upper Tribunal in August last year. The Court of Appeal refused his claim in January this year meaning the FCA can now impose the £450,000 fine. It is also free to impose the original ban on his participation in regulated activities.  Catalyst Investment Group was the UK distributor of bonds backed by traded second-hand life policies, issued by Luxembourg-based ARM Asset Backed Securities. R...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA to cut red tape for investment firms in bid to streamline regulation

FCA to cut red tape for investment firms in bid to streamline regulation

Volume of legal text cut by 70%

Linus Uhlig
clock 24 April 2025 • 2 min read
Zero cases of non-financial misconduct opened by FCA in two years

Zero cases of non-financial misconduct opened by FCA in two years

A Freedom of Information request has found

Cristian Angeloni
clock 22 April 2025 • 3 min read
Emma Reynolds: Targeted support is 'exciting opportunity' but 'we need to get it right'

Emma Reynolds: Targeted support is 'exciting opportunity' but 'we need to get it right'

‘Need strong consumer protection in place’

Jenna Brown
clock 22 April 2025 • 3 min read