The respondents moved to quash an application for judicial review brought by the applicants, a mortgage broker and its principal.
The applicants sought to quash a notice of proposal issued by the regulator and challenged the regulator's decisions regarding the publication of the notice and its refusal to publish the applicants' response.
The Divisional Court quashed the portion of the application challenging the notice of proposal as premature, finding that the pending hearing before the Financial Services Tribunal provided an adequate alternative remedy.
However, the court declined to quash the claims relating to the regulator's publication decisions, finding it was not plain and obvious that those decisions were unreviewable or did not impair the applicants' legal rights.
The claim for mandamus regarding competitors was also quashed.