Former UBS derivatives trader refers LIBOR misconduct penalty to tribunal

The Financial Conduct Authority has published a decision notice regarding its intention to ban Arif Hussein, previously a UBS derivatives trader, from regulated financial services. The decision is contested by Hussein, who has referred the dispute to the Upper Tribunal. After hearing both sides present their cases, the tribunal will either dismiss the reference or remit it to the FCA with instructions to reconsider in accordance with its findings.