We welcome the Court of Appeal’s judgment which found that our decision to ban Mr Markou from financial services was the correct one. The Court of Appeal also determined that it was appropriate to fine Mr Markou £10,000.
Background
- In 2021 the FCA published this Decision Notice[1] in respect of Markos Markou, director and chief executive of a mortgage broker firm, Financial Solutions (Euro) Limited (FSE) seeking to impose a fine of £25,000 and ban him from working in financial services.
- Mr Markou referred this matter to the Upper Tribunal who asked for the FCA to reconsider the proposed ban and directed that a fine should not be imposed. We believed the decision to be incorrect and irrational and referred the matter to the Court of Appeal.
July 2025 update
We issued a Final Notice[2] following the Supreme Court's rejection of Mr Markou's application for permission to appeal the Court of Appeal's judgment of 17 December 2024.