Was former chairman of Shell Group denied procedural fairness in the FSA's enforcement action against the group?: Financial Services and Markets Tribunal gives preliminary ruling

Purpose – To discuss the FSA's enforcement action against the Royal Dutch/Shell group, which had been found to have made false or misleading announcements regarding its proved hydrocarbon reserves and reserves placement ratio's 1998-2003. Design/methodology/approach – Presents the facts forming the background to the case. Findings – Finds that the Chairman of Shell's defence in the case contains some justifiable points, although the tribunal's decision went against him. Originality/value – Arguably, lays the foundation for further discussion of points such as these, foreshadowring a forthcoming publication on the UK financial regulation.