The United Kingdom's Financial Services and Markets Tribunal was an independent judicial body established under Section 132 of the Financial Services and Markets Act 2000,[1] which heard references arising from decision notices issued by the Financial Services Authority (FSA).
In April 2010, the tribunal was abolished and its functions were transferred to the Upper Tribunal.
[2] Examples of such decisions that the tribunal could review included: There were eight legally qualified chairmen (including the President, Stephen Oliver QC)[4] and 19 lay members with special experience of the financial sector - all appointed by the Lord Chancellor.
[1] Appeal against decisions of the tribunal, on a point of law, reverted to the Court of Appeal in England and Wales, and to the Court of Session in Scotland.