Bittar v FCA

The Upper Tribunal has held that former Deutsche Bank AG trader Christian Bittar is entitled to challenge the Final Notice which the Financial Conduct Authority issued against the Bank earlier this year imposing a record fine in relation to Libor and Euribor issues. The Upper Tribunal, applying the Court of Appeal’s recent decision in Macris v FCA, accepted Mr Bittar’s case that the Final Notice included matters which identified him and that he was accordingly entitled to proceed with a challenge to the Notice as a prejudiced third party.

The decision can be read in full here: http://www.tribunals.gov.uk/financeandtax/Documents/decisions/Bittar-v-FCA-preliminary-issue-decision.pdf

Andrew Hunter QC, instructed by K&L Gates, acted for Mr Bittar.