Overview

The UK’s Financial Services Authority (FSA) has successfully appealed a first instance decision that had placed certain limits on its ability to assist foreign regulators with information and document gathering. The case concerned a request by the US Securities and Exchange Commission (SEC) for assistance from the FSA in the UK.

The FSA and others v Amro International and Others was an appeal against an order made by Mr Justice Collins which had quashed an FSA requestfor documents and information. Collins J had done so on the basis that the FSA request was overly broad and as such, disproportionate and unnecessary. The Court of Appeal unanimously overruled Collins J and found that the FSA request was a proper one.

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