Rob Terry of Quindell in his own words on a Full Listing and WHY DID IT FAIL?

Comments

1. ---

   Jsforum

   12 June 2014, 17:48

   The explanation in today’s FT (page 20) is a bit less sensationalist.

2. ---

   mjnandrew

   27 June 2014, 15:39

   27 June 2014
   Freedom of Information: Right to know request
   Thank you for your request under the Freedom of Information Act 2000 (‘the Act’), for
   information (in summary) relating to Roble S.L.
   I confirm that we hold information that falls within the scope of your request. However, we are
   not able to give it to you because this is confidential information which was received by us for
   the purposes of carrying out our regulatory work under the Financial Services and Markets Act
   2000. This means that this information is exempt from disclosure under section 44
   (Prohibitions on Disclosure) of the Act. For a more detailed explanation as to why this
   exemption applies please refer to the annex, below.
   I realise that you may be disappointed with this decision but I hope you understand why we
   are not able to give it to you.
   Yours sincerely
   Information Access Team
   Your right to complain under the FoI Act
   If you are unhappy with the decision made in relation to your request, you have the right to request an internal
   review. If you wish to exercise this right you should contact us within three months of the date of this response.
   If you are not content with the outcome of the internal review, you also have a right of appeal to the Information
   Commissioner at Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire SK9 5AF.
   Telephone: 01625 545 700. Website: www.ico.org.uk
   Annex A
    Section 44 (Prohibitions on disclosure)
   Section 44(1)(a) of the Act provides that information is absolutely exempt if its
   disclosure (otherwise than under the Act) is prohibited by or under any enactment.
   Section 348 of FSMA restricts the FCA from disclosing “confidential information” it has
   received except in certain limited circumstances (none of which apply here).
   Confidential information for these purposes is defined as non-public and non-anonymised
   information which relates to the business or other affairs of any person and which was
   obtained by the FCA for the purposes of, or in the discharge of, any of its functions under
   FSMA and which is not in the public domain. Disclosure of any such confidential
   information is in breach of section 348 of FSMA and is a criminal offence.
   In this case, the information received by the FCA was received for the purpose of
   carrying out our regulatory functions and so falls within Section 348. Consequently the
   FCA is prohibited from disclosing it to you.
   Section 44 is an “absolute” exemption, and so it is not necessary to balance the public
   interests for and against disclosing the information.