Bank chief Carlos Fuenmayor fights the FCA over a £99,600 penalty he says unfairly targets his speech. The London‑based head of BancTrust claims the regulator erodes free expression by demanding disclosure of Venezuela and US sanctions. He argues the fines stem from political pressure by Maduro’s regime. This dispute highlights how regulatory scrutiny can clash with political claims and investors.

The FCA labeled Fuenmayor negligent for not revealing a 2019 FINRA suspension and a Venezuelan account freeze that, due to hyperinflation, was worth less than a cent. He countered that the UK never recognised Maduro, so he owed no disclosure duty. The regulator warned the fine protects consumer interests and system integrity, citing his failure to meet expected standards today.

Fuenmayor’s lawsuit at the Upper Tribunal seeks to overturn the £99,600 fine and an earlier proposed £350,000 penalty, arguing the action chills lawful speech among regulated firms. If the court sides with him, the FCA could face a precedent that limits its power to enforce disclosure rules. Investors will watch the case for signals on regulatory reach in environments today.