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The Financial Conduct Authority (“FCA”)  has been unsuccessful in its attempted prosecution of a former banker, Konstantin Vishnyak, for destroying documents relevant to an FCA investigation brought against him for suspected insider dealing offences. This marks the first time the FCA has exercised its powers in connection with a destruction of documents offence under section 177(3)(a) of the Financial Services and Markets Act 2000 (“FSMA”). Despite the outcome, it illustrates the risks for firms and individuals in using messaging systems such as WhatsApp.

Read our briefing here.

 

Kate Meakin photo

Kate Meakin

Partner, London

Kate Meakin
Hywel Jenkins photo

Hywel Jenkins

Partner, London

Hywel Jenkins
Jack Moore photo

Jack Moore

Senior Associate, London

Jack Moore

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Kate Meakin photo

Kate Meakin

Partner, London

Kate Meakin
Hywel Jenkins photo

Hywel Jenkins

Partner, London

Hywel Jenkins
Jack Moore photo

Jack Moore

Senior Associate, London

Jack Moore
Kate Meakin Hywel Jenkins Jack Moore