Harvey Knight, partner at law firm Withers LLP, who acted for Mr Tinney throughout the FCA investigation, said: "This is an unprecedented Upper Tribunal judgment.
"With the Upper Tribunal having upheld the FCA's own decision not to fine Mr Tinney, the FCA has also now decided not to pursue a prohibition order against Mr Tinney in the wake of that Upper Tribunal judgment.
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"Put bluntly, Mr Tinney is free to work again in the financial services industry in any role. This is telling. The FCA has serious questions to answer about why it decided to pursue this case."
rachel.mortimer@ft.com
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