After the shock of reading that the FSA had apparently gone soft – or had lost its argument – on Darren Morton and Christopher Parry (who were accused of market abuse – details were in the last Regulatory Roundup), it came as relief to learn that the FSA is back to normal.

It has won a challenge in the High Court, by lawyers acting for Michael McInerney and Neil Rollins, on its ability to prosecute crimes that fall outside FSMA 2000. The two are separately charged with running a boiler room, and laundering the proceeds; and money laundering respectively.

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