FCA v Avacade: High Court case on ‘Arrangements’ and ‘Advice’
On 30 June 2020, Adam Johnson QC (sitting as a Deputy Judge) handed down judgment in Financial Conduct Authority v Avacade Limited (In Liquidation) & Others  EWHC 1673 (Ch). This was the FCA’s enforcement action against Avacade Ltd and others. The decision sets out useful and novel guidance on the meaning of “making arrangements” under RAO article 25 and “advising” under article 53, as well as considering “financial promotions” under FSMA.
The full decision may be viewed here: FCA v Avacade.