On 22 March 2017 the Supreme Court gave judgment in Financial Conduct Authority v Macris.
The issue in the case was whether the respondent was “identified” in a Decision Notice issued by the Financial Conduct Authority in which it had fined JP Morgan. Mr Macris maintained that he was identified and subject to prejudicial criticism, so that he had rights under section 393 of the Financial Services and Markets Act 2000. By a majority the Supreme Court, overturning the Court of Appeal’s decision, held that he was not identified.
Paul Stanley QC acted with Jonathan Crow QC for the Financial Conduct Authority.