The Tribunal has found in favour of David Hobbs, a trader in coffee futures. He was disputing a decision notice handed down against him by FSA for allegedly placing a last minute limit buy order that would have sought to manipulate the coffee options’ reference price. According to the Tribunal, the trade was carried out for legitimate reasons and in conformity with accepted market practices on the coffee futures market. FSA has noted that the broker who executed the order agreed to a settlement in 2010. (Source: David John Hobbs v. FSA FS/2010/0024 and FSA Note)