In March 2016, the FCA published its Decision Notice refusing authorisation of Money Matcher Limited for debt adjusting and debt counselling activities. Subsequently, the debt management firm appealed to the Upper Tribunal seeking an application for suspension of the FCA notice and an application for privacy relating to the matter.

The Upper Tribunal refused both applications on the basis that, due to lack of evidence, a direction to suspend the effect of the notice may prejudice the interest of the consumers. As the application to suspend the FCA decision was refused, the privacy application was rejected as a natural consequence.