James Perman & Co forced to pay FSA costs
Scottish accountancy firm forced to pay costs after losing battle against the FSA
Scottish accountancy firm forced to pay costs after losing battle against the FSA
SCOTTISH FIRM James Perman & Co has been ordered to pay out nearly £9,000 in costs after losing a battle against the FSA.
The regulator had removed James Perman’s permission to carry out financial services, after the firm had refused to have a supervisory visit conducted at its offices.
After James Perman had appealed against a decision by the Upper Tribunal to cancel its permission, the FSA then applied to have its legal costs of £8,665.60 picked up by the accountants.
The tribunal ordered James Perman to pick up the costs, saying the firm’s actions had been “unreasonable”.
“…Its rejection of what in our view was a reasonable offer on the part of the FSA amounted to unreasonable conduct on the applicant’s part and caused the FSA to incur costs/expenses,” the judges said in their decision statement.
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