Financial Times: Ex-Shell chief to challenge FSA ruling
“Sir Philip Watts, former chairman of Royal Dutch/Shell, is due to challenge the Financial Services Authority at the Financial Services and Markets Tribunal today.”: “He claimed he had been “identified and prejudiced” when the regulator fined Shell £17m in August 2004 for misleading the market by overstating its oil and gas reserves between 1998 and 2003.”
Monday 25 July 2005
By Kate Burgess
Published: July 25 2005
Sir Philip Watts, former chairman of Royal Dutch/Shell, is due to challenge the Financial Services Authority at the Financial Services and Markets Tribunal today.
Sir Philip, who was forced to resign from Shell in March 2004, first launched his appeal against the FSA in the autumn. He claimed he had been “identified and prejudiced” when the regulator fined Shell £17m in August 2004 for misleading the market by overstating its oil and gas reserves between 1998 and 2003.