This from Tim Thomas. A very experienced Junior Barrister, whose principal practice lies in VHCC work. He really DOES know what he is talking about.
I post here a guest blog from Tim Thomas, someone who knows first hand about Operation Cotton
Timothy Thomas is a direct access barrier specialising in Commercial Criminal Fraud at 1 Pump Court. Here he gives his views on how the government should respond to the dramatic disintegration of the Operation Cotton trial last week.
If the Government, in the form of MoJ officials, continue to blame the Criminal Bar for exercising its right in an (albeit rigged) market to reject unfavorable contract terms, it needs to wise up pretty quickly.
The prosecuting authority in Operation Cotton, the Financial Conduct Authority (FCA), bears responsibility (along with the Prudential Regulation Authority) for ensuring that companies, their directors and their employees behave appropriately towards investors when they raise capital. When they do not, the FCA have the power to impose civil sanctions or launch criminal prosecutions.
Such regulation must be at the…
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