Catalyst boss loses Court of Appeal battle over £450k FCA fine

Legal battle over for Roberts

The Court of Appeal has rejected a bid by Timothy Roberts to avoid a £450,000 fine from the financial regulator over failed investment Catalyst.

In a final notice, the Financial Conduct Authority (FCA) said Roberts, former chief executive of Catalyst, would now have two weeks to pay the fine first issued in August 2013 and upheld by the Upper Tribunal in August last year. The Court of Appeal refused his claim in January this year meaning the FCA can now impose the £450,000 fine. It is also free to impose the original ban on his participation in regulated activities.  Catalyst Investment Group was the UK distributor of bonds backed by traded second-hand life policies, issued by Luxembourg-based ARM Asset Backed Securities. R...